Posted on 03/04/2013 2:09:12 PM PST by lowbridge
The founder of the Subway restaurant chain said that his business wouldn’t exist if he tried to start it today. Fred DeLuca, who at 17 started Subway with a $1,000 loan from friend and later business partner Dr. Peter Buck, cited federal regulations — particularly the ObamaCare socialized healthcare law — as destructive to the entrepreneurial spirit in today’s business climate.
Appearing February 27 on CNBC’s Squawk Street, DeLuca said that federal interference has “continuously gotten worse” with its onerous regulations, so that “it’s tough for people to get into business — especially a small business.”
“I’ll tell you, if I started Subway today, Subway would not exist,” declared DeLuca, “because I had an easy time of it in the ’60s when I started and I just see a continuous increase in regulations.”
DeLuca said that the imposing ObamaCare law is “the biggest concern of our franchisees. They don’t know what to expect. It’s causing a lot of concern.” He added that the costs “will be passed on to the consumer.”
Subway ranks as the world’s largest restaurant chain with more than 38,000 restaurants in 100 countries.
(Excerpt) Read more at spreadlibertynews.com ...
Hey Fred DeLuca,
Few years ago your company stopped cutting meat at local stores and started cutting it at some damn factory in Indiana.
Other than to save money, WHY?
Your product went to hell and I stopped patronizing you at that time. Rather eat horse meat at Taco Bell than eat your bad stuff.
Thank you, Mr. DeLuca.
And as a US Citizen, allow me to apologize in advance for the 27 consecutive years of IRS audits you are about to endure.
I love the Subway in our town, and I haven’t noticed any change in the meats there.
Relevence?!?
Emtrepreneurs will have to become globalists. Once they are ready to start hiring people, they need to expand outside this country.
Reason enough.
I never knew Bo Dietl was a FReeper!
I have not eaten at Subway again after they put boloney on their BMT.
I'm going to guess it was to ensure consistent quality. It won't be HIGH quality, but it will be consistent, and corporate will worry less about a branch manager using horsemeat in their sandwiches.
That seems like a really silly reason to avoid a company but...okey dokey
HOORAY Fred DeLuca!
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