Stephanie
Diamond Member
- Jul 11, 2004
- 70,230
- 10,864
- 2,040
you voted for it
SNIP:
Most presidents dont impact the country until their inauguration. However, president Obama took less than 48 hours after his reelection to begin the legacy of his second term. On day one, the Dow Jones Industrial Average dropped over 300 points, and followed that with a near 150 point drop on day two. This showed an immediate nervousness in the business community for what lies ahead. Even bigger than this though is the number of people joining the unemployment line.
By the Thursday following the election, thousands of employees faced the loss of their jobs. These layoffs transcended many industries, including the coal and healthcare fields. Here is a list of just a few of the major employers letting people go:
Welch Allyn 275 employees to be let go
Stryker (medical device manufactuere) 1,170 jobs to be cut from global workforce
Boston Scientific (currently shifting assets to China) 1,200-1,400 jobs to be cut
Medtronic Reducing 1,000 jobs
Smith & Nephew 770 layoffs
Abbott Labs 700 layoffs
Covidien 595 layoffs
Kinetic Concepts 427 layoffs
St. Jude Medical 300 layoffs
Hill Rom 200 layoffs
Dana Holding Corp. (an Ohio based auto parts manufacturer) To cut $24 million from budget/labor costs
Total: ~6,000+ jobs
Of course, the latest is causing quite a stir. Hostess, maker of the ever-love Twinkie, is closing their doors and letting 18,500 employees go. This has hit Americas obese population like a sugar brick. Unfortunately, they have no one to blame but themselves and their votes. While the headlines read that labor negations are to blame, the bigger story is an uncertain economy and new taxation. Part of the increased labor cost is Obamacare, and as a result the union was asked to reduce benefits and/or employee hours. Instead, another company cannot financially succeed in a nation of increased tax burden. It appears that once again, actions, like supporting free healthcare, results in consequences, the reality that nothing is ever free.
all of it here
Editorial: Obamacare, the ultimate job killer | The Tribune Papers
SNIP:
Most presidents dont impact the country until their inauguration. However, president Obama took less than 48 hours after his reelection to begin the legacy of his second term. On day one, the Dow Jones Industrial Average dropped over 300 points, and followed that with a near 150 point drop on day two. This showed an immediate nervousness in the business community for what lies ahead. Even bigger than this though is the number of people joining the unemployment line.
By the Thursday following the election, thousands of employees faced the loss of their jobs. These layoffs transcended many industries, including the coal and healthcare fields. Here is a list of just a few of the major employers letting people go:
Welch Allyn 275 employees to be let go
Stryker (medical device manufactuere) 1,170 jobs to be cut from global workforce
Boston Scientific (currently shifting assets to China) 1,200-1,400 jobs to be cut
Medtronic Reducing 1,000 jobs
Smith & Nephew 770 layoffs
Abbott Labs 700 layoffs
Covidien 595 layoffs
Kinetic Concepts 427 layoffs
St. Jude Medical 300 layoffs
Hill Rom 200 layoffs
Dana Holding Corp. (an Ohio based auto parts manufacturer) To cut $24 million from budget/labor costs
Total: ~6,000+ jobs
Of course, the latest is causing quite a stir. Hostess, maker of the ever-love Twinkie, is closing their doors and letting 18,500 employees go. This has hit Americas obese population like a sugar brick. Unfortunately, they have no one to blame but themselves and their votes. While the headlines read that labor negations are to blame, the bigger story is an uncertain economy and new taxation. Part of the increased labor cost is Obamacare, and as a result the union was asked to reduce benefits and/or employee hours. Instead, another company cannot financially succeed in a nation of increased tax burden. It appears that once again, actions, like supporting free healthcare, results in consequences, the reality that nothing is ever free.
all of it here
Editorial: Obamacare, the ultimate job killer | The Tribune Papers
