Skip to comments.Medical giant Stryker cuts 1,170 jobs, citing ObamaCare
Posted on 11/16/2012 2:08:04 PM PST by Arthurio
Medical supply giant Stryker is the latest company to announce job cuts in anticipation of coming costs associated with ObamaCare, even though the man who inherited a fortune from the company's founder is a fan.
The company will cut 1,170 jobs, or five percent of its worldwide workforce, despite the fact that the founder's grandson was one of the largest contributors to President Obamas re-election campaign. Medical tech scion Jon Stryker, whose net worth is currently estimated at $1.2 billion, contributed $2 million to the Priorities USA Action super PAC and has given $66,000 in contributions to Obama and the Democratic Party. Stryker does not run the company.
A "medical device excise tax" included in the mandate imposes a 2.3 percent levy on medical device manufacturers and suppliers, which critics say will raise prices on everything from pacemakers to prosthetics to stents. Companies will be required to pay the tax regardless if they have a profit or loss for the year. The tax is estimated to cost the medical device industry $20 billion.
Read more: http://www.foxnews.com/politics/2012/11/16/medical-supply-giant-stryker-corp-makes-pre-emptive-strike-against-pending/#ixzz2CQSVGzqf
(Excerpt) Read more at foxnews.com ...
More people getting their blue slips..
“who inherited a fortune from the company’s founder is a fan.”
There’s your problem right there. Richie Rich, the poor little rich kid.
Well this kid is hardly unique. Builder of businesses can leave their kids cash, but seldom their brains.
"I pulled Striker's Record but you aren't going to like it."
and the HITS just keep on a comin’......we’re rapidly reaching the point at which it will be impossible to resuscitate
the Golden Goose....
My God, its worse than I thought.
I bet the kid has brains but doesnt know how to use it.
Just bet the kid went to an Ivy League school and had his brain thoroughly washed by the socialist elite faculty.
Send your kid to college and ruin their minds. Before you send your kid to college make sure they know how the world really works.
The goose is cooked. Alls we gots left are the feathers.
what to do.... what to do....
anybody seen any tar?
Stryker corp is a big liberal supporters. They deserve what they get.
It’s a great time to shed the dead and dying wood. Lose the druggies and the alkies and the old and lazy. Obamacare is a great excuse.
And dad didn't.....
Too late. I bought Stryker long ago. It’s part of my retirement plan. And knowing that it was suffering from an Obamacare tax, I bought more in the run up to the election, confident that Romney would win. Alas. Well, let’s see, I can’t sell my house, now either. Hello Bank. But I do have a large cardboard box that is big enough for me and my two dogs, and I have found a perfect place for it under a freeway bridge.
Wonder how many jobs will affect the facilities in Michigan,Grand rapids, Kalamazoo and Portage? also wonder how will this affect the production and usage of the Stryker get around knee replacement? it is going to get bad for people to get artificial knees. It is bad enough the Stryker just through a recall of some medical products - what medical product it fails me right now. Lets see styker makes medical beds and other equipment.
Okay I do not like it supports the democrats but stryker has a lot medical products that ar utilized hey I live with some styker products - craniofacial surgical products - titanium plates and screws in the upper and lower jaw.
also titanium plates and screws in the cervical vertebrae.
HOORAY Stryker! Prepare. Persevere.
Jon Stryker is a rich GAY DemoRAT fan. His grandfather would be rolling over in his grave if he knew.