NRF Opposes Clinton Health Plan
an, chairman of the National Retail Federation, predicts 500,000 retail jobs would be lost if the Clinton administration's employer-mandated health care plan were adopted.
Retailers, such as supermarkets, would be especially hard hit because of their low profit margins and large numbers of part-time and seasonal workers, said Brennan in testimony before the House Ways and Means Committee. Clinton's plan would "wreak havoc" on the nation's $2 trillion retail industry and "would result in massive disruption."
Under the Clinton plan, for every $1 a retail employee contributes to his or her company's earnings, employers would have to pay 83 cents to $1.93 for employee health care costs.
Brennan said it is "overly simplistic" to believe that retailers would raise prices to cover massive increases in health care costs. Instead, most will "have no choice but to cut jobs or reduce workers' hours."
SPS POS-Link Software Created
RIVERWOODS, Il. -- SPS Payment Systems here has developed software that eliminates the need for stand-alone credit verification terminals. The software links retailers' personal computer-based point-of-sale systems with the SPS transaction processing network.
Retailers can now authorize, capture and settle credit, debit and check transactions directly through their POS terminals. SPS Link also can route and access such information as electronic mail, inventory levels, and pricing updates.
