Math has become the bane of conservative “logic” over the last few months. It seems that all of their rhetoric and lies are getting exposed by peons like me who simply do the math. Here’s a fun one for you.
Tonight I read an article from Forbes that showed how flawed John Schnatter’s, the owner of Papa John’s, math was on his per pizza costs for health care. That was interesting, but what really caught my eye was the number of shares he owns and the stock price.
According to the Forbes article, John owns 6,094,409 shares of stock. On Thursday November 8, 2012 the stock price began at $51.70 and has been dropping ever since. As of today, the stock price is now $48.69. This means that John Schnatter’s stock was valued at $315,080,945.30 last Thursday morning. Right now that same stock is valued at $296,736,774.21. This is a loss in value of $18,344,171.09. While he was busy trying to screw his employees and save $5-8 million per year (according to his own estimates), he has lost over $18 million in stock value due to bad press (and a lawsuit he is facing).
I love the power of social media. If he continues to refuse his employees health care and threaten to reduce their hours, I hope the calls for boycotts spread like a virus. I want to see his stock plummet well under $40 per share. At $38 per share he would have lost enough money to have paid for his employees’ health care for a decade. Don’t lose sight of what the public can do to these millionaires who try to hold us hostage to their greed. We’ve already cost him what he would have paid over 2-3 years for health care. Let’s make him lose decades. Continue the boycotts of Papa John’s and every other business who plays games with the livelihood of their workers. Let’s end the American Aristocracy before it begins.
I haven’t done it in a while, but this makes John Schnatter today’s Douchebag Businessman! Congratulations John!