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Medical giant Stryker cuts 1,170 jobs, citing ObamaCare
Fox ^

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 Obama’s 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 ...


TOPICS: Extended News; News/Current Events; Politics/Elections
KEYWORDS: jonstryker; obamacare; patstryker; stryker

1 posted on 11/16/2012 2:08:06 PM PST by Arthurio
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To: Arthurio

Buyer beware!


2 posted on 11/16/2012 2:12:14 PM PST by Bitsy
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To: Arthurio

More people getting their blue slips..


3 posted on 11/16/2012 2:14:01 PM PST by JoanneSD
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To: Arthurio

http://www.youtube.com/watch?v=OqLjBJPi1Jw


4 posted on 11/16/2012 2:14:02 PM PST by massmike (At least no one is wearing a "Ron Paul - 2016" tee shirt........yet!)
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To: Arthurio

“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.


5 posted on 11/16/2012 2:16:57 PM PST by A_Former_Democrat (Elections do have consequences, young people of America)
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To: A_Former_Democrat

Well this kid is hardly unique. Builder of businesses can leave their kids cash, but seldom their brains.


6 posted on 11/16/2012 2:23:20 PM PST by Average Al
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To: Average Al

builder(s)


7 posted on 11/16/2012 2:23:55 PM PST by Average Al
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To: massmike

"I pulled Striker's Record but you aren't going to like it."

8 posted on 11/16/2012 2:24:11 PM PST by dfwgator
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To: Arthurio

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....


9 posted on 11/16/2012 2:26:42 PM PST by jimsin (w)
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To: dfwgator

My God, its worse than I thought.


10 posted on 11/16/2012 2:28:51 PM PST by Vince Ferrer
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To: Average Al; A_Former_Democrat
Well this kid is hardly unique. Builder of businesses can leave their kids cash, but seldom their brains.

I bet the kid has brains but doesn’t 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.

11 posted on 11/16/2012 2:36:55 PM PST by Pontiac (The welfare state must fail because it is contrary to human nature and diminishes the human spirit.)
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To: jimsin

The goose is cooked. Alls we gots left are the feathers.

what to do.... what to do....

anybody seen any tar?


12 posted on 11/16/2012 2:41:35 PM PST by AdSimp
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To: Pontiac

Stryker corp is a big liberal supporters. They deserve what they get.


13 posted on 11/16/2012 2:45:07 PM PST by Rodm
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To: Arthurio

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.


14 posted on 11/16/2012 2:45:24 PM PST by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: Pontiac
"Just bet the kid went to an Ivy League school and had his brain thoroughly washed by the socialist elite faculty."

And dad didn't.....

15 posted on 11/16/2012 2:53:02 PM PST by Average Al
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To: Bitsy

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.


16 posted on 11/16/2012 3:09:21 PM PST by MrChips (MrChips)
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To: Bitsy
Think of it as a “Tax the sick” scheme.
17 posted on 11/16/2012 3:42:50 PM PST by spudville
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To: Arthurio

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.


18 posted on 11/16/2012 4:24:38 PM PST by hondact200 (Candor dat viribos alas (sincerity gives wings to strength) and Nil desperandum (never despair))
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To: Arthurio

HOORAY Stryker! Prepare. Persevere.


19 posted on 11/16/2012 7:41:08 PM PST by PGalt
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To: A_Former_Democrat

Jon Stryker is a rich GAY DemoRAT fan. His grandfather would be rolling over in his grave if he knew.


20 posted on 11/16/2012 8:31:31 PM PST by wetgundog (" Extremism in the Defense of Liberty is no Vice")
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To: wetgundog

His employees can now thank him for supporting Obammy.


21 posted on 11/17/2012 3:31:55 AM PST by Amberdawn
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To: Amberdawn

Jon Stryker does’nt work, in the traditional sense, and he does not work at Stryker. He spends his days funding liberal and Gay agenda issues and think tamks.

FUBO


22 posted on 11/17/2012 4:54:59 AM PST by wetgundog (" Extremism in the Defense of Liberty is no Vice")
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