Fred DeLuca, the founder and CEO of the global sandwich franchise Subway, told CNBC’s Squawk on the Street hosts that he would not have been able to start his restaurant chain in today’s business climate. He said that the business environment has “continuously gotten worse” since he started the company in the 1960s “because there’s more and more regulation.”
DeLuca also called Obamacare “the biggest concern of our franchisees.” “They don’t have enough information, they don’t know what they’re looking forward to,” he said, and warned that business owners will be forced to pass the costs on to consumers. Subway is currently the world’s largest restaurant chain with more than 38,000 restaurants in 100 countries.
Via the Free Beacon.