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Boston Scientific Corporation Message Board

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  • newyorksalute newyorksalute Aug 20, 2012 6:58 PM Flag

    more layoffs

    BSC is way undervalued here, so I rate is a buy. A profitable company (not including those darn special charges) and a company with margins above get that at under $8 is a good long term bet.
    All is not doom and gloom in the industry, but Obamas medical device tax will cost about 35,000 jobs in the next few years based on industry experts. A company like BSC cannot take a $110 million dollar hit straight off the bottom line and not react. If that means assemblying products in Costa Rica, Mexico, Puerto Rico, Ireland or where ever, companies are going to outsource. Yes, the product that comes back for sale in the US is still taxed, but the goal is to recoup the $110 million dollar Obama hit by decreasing the cost of assembly. The layoffs may have started in Ireland due to their rules for layoff announcements. No doubt, the US plants will bear the brunt of the layoffs.
    But the main point of this thread is that these layoffs are in part due to Obamas tax increase on the medical device industry. As an employee of a medical device company, you have to decide which one of these candidates is going to protect your job and your childrens chance at a job down the road. As the past poster said, you do not have much without economic opportunity. The economy has to be the #1 issue.

24.21-0.09(-0.37%)Aug 30 4:02 PMEDT