August 22, 2013

Olive Garden, Red Lobster See Sharp Drop In Profits After Anti-Obamacare Campaign Backfires | ThinkProgress

Olive Garden, Red Lobster See Sharp Drop In Profits After Anti-Obamacare Campaign Backfires | ThinkProgress'via Blog this'

BOYCOTT...Ever since Darden Restaurants — the owner of the Olive Garden and Red Lobster chains — first announced its anti-Obamacare campaign, the company has had a tough couple of months. Darden admitted as much when it revised its predictions for latest quarterly earnings down in December, attributing the drop to “recent negative media coverage on Darden [...] and how we might accommodate healthcare reform.” The negative press led the company to reverse course on its threat to shift employees to part-time status to avoid covering them under Obamacare. The latest report on Darden’s earnings prove that was a good move, since the restaurants did take a turn for the worse as a result of their bad publicity. Its net income fell 37 percent: