On May 17, about an hour after Facebook Inc. completed its record $16 billion initial public offering, CKE Inc. announced plans for a more modest IPO. The owner of the Hardee’s and Carl’s Jr. fast-food chains sought as much as $213 million.
CKE Inc., owner of the Hardee’s and Carl’s Jr. fast-food chains, plans to delay an initial public offering until after the presidential election as rising health- care and commodity costs deter investors.
Business leaders, who generally didn’t support President Barack Obama’s policies in the past four years or his re-election bid, weren’t in a more-gracious mood after the results were in. Today’s decline in the U.S. stock markets, the biggest since June, didn’t help.
When California Lieutenant Governor Gavin Newsom begins meetings in Austin with Hardee’s hamburgers chief Andrew Puzder, local Chamber of Commerce Chairman Bobby Jenkins and Texas Governor Rick Perry , it’s because the most- populous state lingers in a funk, even as the U.S. pulls out of the deepest recession in half a century.
California, which sent a delegation to Austin last year to find out how the Lone Star State had beat it in employment growth, surged ahead of Texas to lead the nation in job creation for the last two consecutive months.
I am not an expert on health-care policy, but I do know something about job creation. So when a House Oversight and Government Reform subcommittee asked me to testify about the effect on employers of the Patient Protection and Affordable Care Act, sometimes known as Obamacare, I thought I could offer some insights.