Sunday, February 19, 2012

20,000 XL Jobs Killed by Obozo: Twice That Coming in Med Supply Ind'y

Best sharpen up your burger-flipping skills and move to a resort area where Queen Michelle or King Obozo like to visit.

...Mass.-based Zoll Medical Corp., which makes defibrillators and employs some 1,800 workers in the U.S. and around the world, says the medical device tax will cost the company between $5 million and $10 million a year. Its profit in 2009 was $9.5 million. “Running our company at close to break even would not be a sustainable position for us,” CEO Richard Packer said in a public statement, “so we will be forced to look at alternatives.”

Those “alternatives” include cutting payroll, cutting R and D and passing on the costs to patients, of course. Industry estimates put the tax-induced job losses at 43,000. So far, the number-crunchers at 1600 Pennsylvania are mum on the number of potential jobs — and lives — destroyed by the medical innovation death tax.

Plenty more stories of other firms contemplating either serious cutbacks OR simply moving out of the US altogether.

HT:  Malkin
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5 comments:

  1. Beer, Bicycles and the VRWC2/19/2012 7:33 PM

    It's part of the plan.

    ReplyDelete
  2. neomom2/19/2012 11:14 PM

    I wonder how Jeff Immelt feels about it? Although he'd have to crawl out from under Obamas desk to notice.

    ReplyDelete
  3. Beer, Bicycles and the VRWC2/20/2012 4:18 AM

    This is why Immelt is sending his Wisconsin operations overseas.

    ReplyDelete
  4. Noreen2/20/2012 6:31 AM

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    ReplyDelete
  5. neomom2/20/2012 9:22 AM

    Only X-Ray so far Deek.... So far.

    ReplyDelete