Thursday, March 25, 2010

Plus le deluge...

Zoll Medical has had it too good for too long. It must be punished to increase equity in our society...
The bill passed by the House Sunday night contains a particularly damaging version of the $20 billion hit for the medical device industry, meaning Zoll and other medical device makers could well be headed for hard times.

"We believe that the tax will cost us somewhere between $5 million and $10 million a year," says Richard Packer, Zoll's chairman and chief executive officer. "Our profit in 2009 was $9.5 million."

That would be a devastating blow. Zoll employs about 1,800 people. Roughly 1,600 of them are in the United States, and about 650 of those are in Massachusetts. Once the new tax kicks in, that could all change. "We can't run this company at a break-even or a negative rate," says Packer, "so we will be forced to look at alternatives."
Thank God - THANK GOD! - that we have Obamacare in place to provide health insurance for all of those workers that will be put out of work by ... Obamacare...

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