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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on November 11, 2011, 10:59:34 AM
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MANUFACTURING
http://www.freep.com/article/20111111/BUSINESS06/111110345/Stryker-cut-5-workforce?odyssey=mod|newswell|text|FRONTPAGE|s
Stryker, the Kalamazoo-based maker of
artificial hips and knees, will cut 5% of its
global workforce by the end of next year to
reduce costs in the face of new fees on
device makers required by the U.S. health
care law.
The job cuts will reduce annual pretax
operating costs by more than $100 million
beginning in 2013, when the medical-
device excise tax is scheduled to take
effect, Stryker said Thursday in a
statement. Stryker had more than 20,000
employees as of Dec. 31, according to
Bloomberg News data.
Stryker expects to record $85 million to
$95 million of the expense in the fourth
quarter of 2011.
"These actions are part of our ongoing
focus on quality, innovation and cost, and
position the company to continue to
provide strong, consistent growth in a
changing environment," CEO Stephen
MacMillan said.
________________________ ______________________
Every obama voter deserves nothing but perpetual ridicule and scorn for what they gave us.
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Bump for Team Kenya
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I didn't see the CEO citing obamacare as the cause.
"These actions are part of our ongoing focus on quality, innovation and cost, and position the company to continue to provide strong, consistent growth in a changing environment," CEO Stephen MacMillan said.
They're reducing operating costs in order to maximize shareholder value. Do you have evidence this will 1) hurt their profits and 2) it's obama's fault?
if your beef is that a CEO cut jobs, well, then I will check your Romney thread on Bain capital to see how pissed you were when he made companies crazy profit by slashing american jobs.
It's a tough position - cutting US jobs is often great for firms bottom lines, and terrible for the nations bottom lines.
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Stryker, the Kalamazoo-based maker of
artificial hips and knees, will cut 5% of its
global workforce by the end of next year to
reduce costs in the face of new fees on
device makers required by the U.S. health
care law.
The job cuts will reduce annual pretax
operating costs by more than $100 million
beginning in 2013, when the medical-
device excise tax is scheduled to take
effect, Stryker said Thursday in a
statement. Stryker had more than 20,000
employees as of Dec. 31, according to
Bloomberg News data.
________________________ _____________________
WTF is wrong w you 180? Forgot how to read?
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the company burned through 70% of it's cash this year making acquisitions and now the CEO is claiming he has to do layoff because of a measly 2.3% tax which it could pass on in the form of higher prices?
::)
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the company burned through 70% of it's cash this year making acquisitions and now the CEO is claiming he has to do layoff because of a measly 2.3% tax which it could pass on in the form of higher prices?
::)
::) ::) Pass on? Pass on to who jackass? All for what? So obama can put more people on welfare?
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::) ::) Pass on? Pass on to who jackass? All for what? So obama can put more people on welfare?
dude - that's the argument we hear from right wingers every time there is talk of raising taxes.....that the business will just pass it along to customers.
Health care costs go up every year. A 2.3% increase would actually be an historically small increase or they could split the difference to do any number of things but the idea that a company who burned through 70% of it's cash this year now has to do a layoff over a 2.3% tax is ridiculous but congrats to you for falling for their lame excuse.....sucker
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dude - that's the argument we hear from right wingers every time there is talk of raising taxes.....that the business will just pass it along to customers.
Health care costs go up every year. A 2.3% increase would actually be an historically small increase or they could split the difference to do any number of things but the idea that a company who burned through 70% of it's cash this year now has to do a layoff over a 2.3% tax is ridiculous but congrats to you for falling for their lame excuse.....sucker
::) ::) Thats on top of the already increasing costs due to onerous mandates! Damn dude - you really are out there.
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::) ::) Thats on top of the already increasing costs due to onerous mandates! Damn dude - you really are out there.
and I'm sure the CEO would like the investment community to think it's Obama's fault and ignore the fact that they have 70% less cash than in the beginning of the year due to acquisitions that Obama forced them (not) to make
schmuck
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and I'm sure the CEO would like the investment community to think it's Obama's fault and ignore the fact that they have 70% less cash than in the beginning of the year due to acquisitions that Obama forced them (not) to make
schmuck
LMFAO. Its NEVER Obama's fault ever for anything right?
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LMFAO. Its NEVER Obama's fault ever for anything right?
some stuff is his fault but not this
of course with you EVERYTHING is his fault
you spent your day trying to find reasons to get hysterical over anything and everything and blame it all on Obama
the funny thing is when you finally get diagnosed as a schizo or manic depressive or whatever your particular mental disorder is you're probably going to be using Obamacare to get your meds
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Since Obamacare’s Passage, Millions Have Lost Employer-Sponsored Health Insurance
4:42 PM, NOV 11, 2011 • BY JEFFREY H. ANDERSONSingle PagePrintLarger TextSmaller TextAlerts
Throughout the Obamacare debate, President Obama repeatedly promised, “If you like your health care plan, you can keep your health care plan.” Now, Gallup reports that from the first quarter of 2010 (when Obama signed Obamacare into law) to the third quarter of this year, 2 percent of American adults lost their employer sponsored health insurance. In other words, about 4.5 million Americans lost their employer-sponsored insurance over a span of just 18 months.
This is not what the Congressional Budget Office (CBO) had predicted would happen. Rather, the CBO had predicted that Obamacare would increase the number of people with employer-sponsored insurance by now. It had predicted that, under Obamacare, 6 million more Americans would have employer-sponsored insurance in 2011 than in 2010 (see table 4, which shows the CBO’s projected increase of 3 million under (pre-Obamacare) current law and an additional 3 million under Obamacare). So the CBO’s rosy projections for Obamacare (and even these paint a frightening picture) are already proving false.
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Whether the decline in employer-sponsored insurance over the past 18 months is a product of Obamacare or of the Obama economy — and whether Obamacare is the principal cause of the anemic performance of the Obama economy — can be debated. But what’s clear is that, more than 25 months before Obamacare would really go into effect — if it’s not repealed first — employers are already dropping employees from their insurance rolls.
Take Walmart, for example — a prominent Obamacare supporter. Gallup writes,
“The nation's largest private employer, Wal-Mart, announced in October that new part-time employees who work less than an average of 24 hours a week would no longer be able to get their health insurance from the company. Wal-Mart laid out several other cuts to its health insurance offerings, including some workers’ ability get coverage for their spouses. Other companies have already made and will likely continue to make similar changes to their health insurance benefits….
“If Wal-Mart's decision is a precursor of how employers intend to manage their healthcare costs, the downward trend in employer-based healthcare will likely continue.”
So in addition to costing about $2.5 trillion over its real first decade (2014 to 2023), looting nearly $1 trillion from Medicare over that time (according to the CBO), forcing Americans to buy government-approved health insurance under penalty of law, and amassing unprecedented power and money in Washington at the expense of Americans’ liberty — if Obamacare stays on the books, you may like your health care plan, but that doesn’t necessarily mean you can keep your health care plan.
It’s time to repeal Obamacare.
More Jeffrey H. Anderson »
« Previous PostNext Post »Article TAGS:Health Care, Obamacare, Repeal
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and I'm sure the CEO would like the investment community to think it's Obama's fault and ignore the fact that they have 70% less cash than in the beginning of the year due to acquisitions that Obama forced them (not) to make
schmuck
I didn't read it but did they say the layoff was due to not having enough cash to pay the employees? If the future cash flow from the acquisitions increases, or the company didn't need all that cash to cover daily operations, the number means nothing.
Do you know if that is the case?
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Since Obamacare’s Passage, Millions Have Lost Employer-Sponsored Health Insurance
www.weeklystandard.com ^ | November 11, 2011 | JEFFREY H. ANDERSON
Posted on November 11, 2011 10:27:58 PM EST by lowbridge
Throughout the Obamacare debate, President Obama repeatedly promised, “If you like your health care plan, you can keep your health care plan.” Now, Gallup reports that from the first quarter of 2010 (when Obama signed Obamacare into law) to the third quarter of this year, 2 percent of American adults lost their employer sponsored health insurance. In other words, about 4.5 million Americans lost their employer-sponsored insurance over a span of just 18 months.
This is not what the Congressional Budget Office (CBO) had predicted would happen. Rather, the CBO had predicted that Obamacare would increase the number of people with employer-sponsored insurance by now. It had predicted that, under Obamacare, 6 million more Americans would have employer-sponsored insurance in 2011 than in 2010 (see table 4, which shows the CBO’s projected increase of 3 million under (pre-Obamacare) current law and an additional 3 million under Obamacare). So the CBO’s rosy projections for Obamacare (and even these paint a frightening picture) are already proving false.
(Excerpt) Read more at weeklystandard.com ...
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Stryker Corp.'s plan to cut its workforce may mean 112 jobs lost in the Kalamazoo area (Obamacare)
www.mlive.com ^ | November 11, 2011 | Al Jones
Posted on November 12, 2011 8:13:43 AM EST by lowbridge
Stryker Corp.'s plans to cut its worldwide workforce by 5 percent by the end of 2012 and take other restructuring steps in order to cut its operational costs could mean a loss of about 1,002 of its worldwide workforce, and a loss of about 112 workers in the Kalamazoo area, if the cuts are made across-the-board.
-snip
Citing "a challenging economic environment and market slowdown in elective procedures," the medical products company said it plans to reduce its annual pre-tax operating costs by more than $100 million beginning in 2013.
The company said the restructuring and cost-cutting are needed to prepare for a new Medical Device Excise Tax scheduled to begin in 2013. Industry officials have said the excise tax will significantly add to the cost of medical products made in the United States.
(Excerpt) Read more at mlive.com ...
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Health Care Law Has Yet to Boost Number of Insured, Gallup Report (Employers dropping coverage)
abc ^ | 11/12/2011 | By Huma Khan
Posted on November 12, 2011 8:47:10 AM EST by tobyhill
The health care law has done little thus far to impact coverage for older Americans, and the number of uninsured remains high, according to a survey released by Gallup today.
About 17.3 percent of Americans did not have health insurance as of the last quarter, one of the highest numbers on record. The drop in coverage was driven largely by an increase in the number of uninsured young people between the ages of 18 and 26. Gallup, however, said the number could be high because it had higher cell phone-only respondents, which likely included more young adults.
Some of the main components of the Affordable Care Act, such as tax credits for small businesses that provide health insurance to their employees, and the establishment of a pre-existing condition insurance plan, have done little to boost Americans’ health coverage, the survey found.
(Excerpt) Read more at abcnews.go.com ...
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the company burned through 70% of it's cash this year making acquisitions and now the CEO is claiming he has to do layoff because of a measly 2.3% tax which it could pass on in the form of higher prices?
::)
Burned through 70% of its cash? Another 30% and you can call them the Barack Obama-approved Solyndra!
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and I'm sure the CEO would like the investment community to think it's Obama's fault and ignore the fact that they have 70% less cash than in the beginning of the year due to acquisitions that Obama forced them (not) to make
schmuck
how dare the expand and try to prosper...
when will these fucks learn that they arent there to make money, they are there to make money for the govt to spend?
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how dare the expand and try to prosper...
when will these fucks learn that they arent there to make money, they are there to make money for the govt to spend?
Well, there's expansion, then there's expansion that "costs you" long term.
Everyone buys shit... But if they don't do anything with it, then it becomes a waste.
Sun Microsystems bought StorageTek.... They basically did nothing with it, and in turn, got bought by Oracle... Now Oracle will do nothing with StorageTek either, but they will basically push Sun as it's "best" offering for it's database solutions, and as such, Sun will probably stay viable.
It's not about what you buy, it's what you do with it after you paid for it.
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the company burned through 70% of it's cash this year making acquisitions and now the CEO is claiming he has to do layoff because of a measly 2.3% tax which it could pass on in the form of higher prices?
::)
Ever hear of this magical little thing called supply and demand? Sure, you can pass on taxes in the form of higher prices, but you'll still end up losing out either way.
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Well, there's expansion, then there's expansion that "costs you" long term.
Everyone buys shit... But if they don't do anything with it, then it becomes a waste.
Sun Microsystems bought StorageTek.... They basically did nothing with it, and in turn, got bought by Oracle... Now Oracle will do nothing with StorageTek either, but they will basically push Sun as it's "best" offering for it's database solutions, and as such, Sun will probably stay viable.
It's not about what you buy, it's what you do with it after you paid for it.
dont know the history here but there a plenty of reasons to buy shit and not do anything with it. The first of which is to simply eliminate a competitor.
This however has nothing to do with the issue as hand.
A company was acquiring additional companies presumably for the opportunities that company would afford the parent company.
and straw is upset that they spent money on acquisitions and not on obamas health care law. They shouldnt have to spend money on obamas new taxes etc b/c of his horrible health care law.
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dont know the history here but there a plenty of reasons to buy shit and not do anything with it. The first of which is to simply eliminate a competitor.
This however has nothing to do with the issue as hand.
A company was acquiring additional companies presumably for the opportunities that company would afford the parent company.
and straw is upset that they spent money on acquisitions and not on obamas health care law. They shouldnt have to spend money on obamas new taxes etc b/c of his horrible health care law.
All joking aside - Straw has got to be the most misguided poster I have ever come across.
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The Wheels Are Falling Off Of President Obama's Health Care Plan
Forbes ^ | 11-14-11 | Capital Flows
Posted on November 14, 2011 11:38:43 AM EST by Driftwood1
ObamaCare has yet to be fully implemented, yet small businesses and families are already taking an economic hit from it, says Karen Harned, executive director of the National Federation of Independent Business Small Business Legal Center.
Before the ink was dry on the Patient Protection and Affordable Care Act (aka ObamaCare), the wheels started to fall off. Lawsuits were immediately filed challenging the constitutionality of the individual mandate, small businesses wanted the burdensome 1099 requirement immediately repealed, and coalitions were formed to overturn other costly provisions of the law.
In the past few months, the Health and Human Services Department, which oversees the implementation of ObamaCare, joined in by announcing they are dropping the Community Living Assistance Services and Supports (CLASS) Act from the law because it’s unsustainable.
But that’s only the beginning. Small businesses and families are already taking an economic hit from the law, and it has yet to be fully implemented. Health insurance premiums are up 9% from last year according to the Kaiser Family Foundation’s 2011 Employer Health Benefits Survey. And our own survey of small businesses revealed that 1 in 8 small employers have either had their health insurance plans terminated or have been told their plan won’t be available in the future.
The health care law is no economic stimulus. Rather, it is a serious impediment to economic and job growth for the entire country.
(Excerpt) Read more at forbes.com ...
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dont know the history here but there a plenty of reasons to buy shit and not do anything with it. The first of which is to simply eliminate a competitor.
This however has nothing to do with the issue as hand.
A company was acquiring additional companies presumably for the opportunities that company would afford the parent company.
and straw is upset that they spent money on acquisitions and not on obamas health care law. They shouldnt have to spend money on obamas new taxes etc b/c of his horrible health care law.
why would I be "upset" about what that company decides to do with it's money (and how did you even arrive at that conclusion)
All I did was point out the company burned through it's cash and the CEO is now trying to pretend a measly 2.3% tax is the reason he has to layoff people
someday perhaps you'll figure out that people go use the media and make excuses to cover up the results of their own actions
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http://www.businessinsider.com/stryker-taxes-super-committee-2011-11
Only a moron like Obama and straw could find this sensible.
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http://www.businessinsider.com/stryker-taxes-super-committee-2011-11
Only a moron like Obama and straw could find this sensible.
meh
just another article repeating the same excuse given by the CEO
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IRS regulation dump: Obamacare’s job-killing medical device tax
Michelle Malkin ^ | 2/3/12 | Michelle Malkin
Your Friday IRS regulation dump: Obamacare’s job-killing medical device tax Share By Michelle Malkin • February 3, 2012 04:21 PM
If it’s Friday, it’s another White House dump day. Cue the dump truck horn: Doot! Doot! Doot!
While Obama sycophants are busy trumpeting deceptive jobs numbers, the administration is quietly moving forward with job-killing Obamacare regs and taxes. The IRS today released rules to impose the $20 billion Obamacare medical device tax scheduled to take effect next year.
At a time when the White House is touting its government initiatives to champion “innovation,” the Obamacare innovation tax on medical device/diagnostic manufacturers will kill an estimated 43,000 jobs.
The very job creators President Obama purports to support are balking at the tax regs and have called for repeal. The Advanced Medical Technology Association, America’s leading association for med tech manufacturers, blasts the new rules:
“[The proposed IRS regulations] highlights the need for prompt action by Congress and the Administration to repeal this anti-competitive, job-killing tax,” Stephen J. Ubl, AdvaMed president and CEO said in a statement.
“Failure to repeal the device tax flies in the face of the President’s comments during the State of the Union about the need to reform our tax system to make our nation more competitive in the world market, a view shared by members of Congress from both parties,” Ubl went on to explain, adding that “the tax will create a number of complex administrative and technical burdens that must be addressed.”
(Excerpt) Read more at michellemalkin.com ...
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