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Non-Tech : Kirk's Market Thoughts

COHR 175.06

-1.9%

3:23 PM EST

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To: zzpat who wrote (5298)	12/14/2017 8:44:57 PM
From: robert b furman	3 Recommendations Recommended By Investor Clouseau Ken Adams toccodolce Read Replies (1) of 26779

I have no graile that explains it. I know having toughed out hard consumer buying periods in the car business it goes in cycles and always the good times come back. The 2008 recession was the worst and most damaging - it is no surprise it takes longer to recover. The other variable that is the 800 pound gorilla was Obama care. At our dealership we fought and bid out health insurance for our employee's family as hard as any one and harder. I wrote our insurance carrier and threaten to self insure if he couldn't reduce a 20% increase to 10% and they did. I don't know anyone who ever did that! Ultimately the premiums increased so high - so fast that we were forced to have our employees participate in the monthly premium - it was a major let down to me personally - but it no doubt impacted our company's overall profitability. Once that occurred the premiums continued to escalate for years. Our company continued to pay more but we also asked employees to pay more. When a company is in that mode their raises were being absorbed by the company - PLUS they were paying more. Obama care gave those who did not work something for free and it was at the expense of the worker class. Is there any doubt why wages have not gone up? Take home pay inherently means you are a worker and wealth redistribution was taking from you. Obamacare was wealth redistribution of the working class and we wonder why the economy's growth is slow for a long time? It was a no brainer from my perspective. Health care premiums were greater than our annual net profit - it was not a question of greed. Our net profits were 2-3 percent and health premiums were going up 20-25 percent annually in a sequential way for years! Had we not made employees partially fund their health insurance we would have been net losers annually. That's not good government, and they wondered why small business was not driving increased employment? You want wage growth and small business to make investments and hire more - inject competition into basic health care insurance programs and watch the economy go to the moon! Rant over! Bob

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