Obamacare forces Medical company STRYKER to cut 5% of Workforce

[freemkt]

Originally Posted by EdwardA

All the article says is the job cuts are because of some vague fees stemming from Obamacare. What fees are those? What has happened to journalism in this country?

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.

Can you say "medical-device excise tax"?

[freemkt]

Originally Posted by GreyDay

BTW, you'd really be upset if I told you a micro screw to fix, saw a metatarsal fracture runs about $800.

Yipe, that's one expensive micro screw.

"He bwoke my widdle head, he cwushed my widdle metatarsal." - Tweety

[Coachgns]

Originally Posted by freemkt

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.

Can you say "medical-device excise tax"?

So you'd rather read Fox News' version than Stryker's own Press Release?
OK - to each his own.

Every company has been doing things like this forever.

[313Weather]

Originally Posted by Coachgns

By citing only a PART of Stryker's reason for the cutback, the post is misleading. Stryker's Press Release stated:

"The targeted reductions and other restructuring activities are being initiated to provide efficiencies and realign resources in advance of the new Medical Device Excise Tax scheduled to begin in 2013, as well as to allow for continued investment in strategic areas and drive growth despite the ongoing challenging economic environment and market slowdown in elective procedures."

So how much is related to new taxes, and how much to "drive growth?"

They also announced pre-tax restructuring charges of 150 - 175 million. How much will that save them in taxes, increasing their bottom line? More than half of it will be taken in 2011, 2 years before the new excise tax.

Stryker's stock price dropped about 50% from late 2007 to mid-2008. Is that Obama's fault too?

And their sales are at an all time high right now, as are their profits, and their stock price. And that is with them claiming that there is a "market slowdown in elective procedures" which use their products. Isn't it more likely that Universal health Care will cause an INCREASE in those procedures, thus driving sales even higher?

This is just Stryker doing what most corporations have been doing forever - increasing the bottom line. Don't go blaming Obama!

Pretty much.

And we already know the real reason businesses are struggling in the economy, lack of demand. Of course anyone who has a clue on basic ecnoomics know you can't stimulate sufficient demand when over 25 million people are un/underemployed and you're adding to that number more. People need money in their pockets in order to demand products.

And the Detroit Free Press hasn't done real journalistic reporting ever since Detroit lost its place as a top 5 media market. It's a shame they're the best Michigan has though.