Abbott 4th quarter profit falls 6% on...

Abbott 4th quarter profit falls 6% on buyout costs | The Columbus Dispatch

There are 63 comments on the Columbus Dispatch story from Jan 26, 2011, titled Abbott 4th quarter profit falls 6% on buyout costs | The Columbus Dispatch. In it, Columbus Dispatch reports that:

Abbott Laboratories says its fourth-quarter net income dropped 6 percent on costs connected with a number of acquisitions.

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Cut cut cut

New York, NY

#1 Jan 26, 2011
How old is this story? Abbott announced this morning they are cutting 1900 jobs; six-percent of its workforce.

http://chicagobreakingbusiness.com/2011/01/ab...
Kasich and Fox News

Dublin, OH

#2 Jan 26, 2011
1900 lost Jobs on Kasich's watch.
tom the traveler

United States

#3 Jan 26, 2011
from the article:

"Abbott blamed the cuts on new fees and pricing pressures associated with the health reform law and a "challenging regulatory environment" at the Food and Drug Administration, which approves new drugs."

I guess this must be Bush's fault and the fact that Kasich worked for Lehman Bros.
Give me a break

Columbus, OH

#4 Jan 26, 2011
Kasich and Fox News wrote:
1900 lost Jobs on Kasich's watch.
Really? Kasich is responsible for Chicago, too?

"Of the cuts, about 1,000 would be in manufacturing operations in Illinois where the largest concentration of Abbott’s estimated 90,000 employees around the world are at its sprawling headquarters in the northern Lake County suburbs of Chicago. The company said about half of the job cuts would take place now with the remainder over the next several years."

Chicago...and today Obama gets glowing praise for his SOTU address about the economy. Give me a break!
fed up

Reynoldsburg, OH

#5 Jan 26, 2011
Kasich and Fox News wrote:
1900 lost Jobs on Kasich's watch.
Sorry chum that's a national figure. So those jobs were lost of Barry's watch. This is an AP story. The big D hasn't yet even realized Abbott has a major presence here.
honkyTonk

Collierville, TN

#6 Jan 26, 2011
You guys voted the Republicans in office thinking their focus is to save and create job. When has this happened on the Republican watch???
Bodie

Chillicothe, OH

#7 Jan 26, 2011
Add in 1,700 Lowe's managers nationwide and its another great day in America.
Al M

Vandalia, OH

#8 Jan 26, 2011
honkyTonk wrote:
You guys voted the Republicans in office thinking their focus is to save and create job. When has this happened on the Republican watch???
You have it all wrong. In my book, Republicans=GOOD, Democrats=VERY BAD. So anything that happens to the economy, the working man, etc., etc., etc., under a Republican governor is for our own benefit. If a Democrat is in office,(e.g., Ted Strickland), then all things that happen are BAD. This includes such things as the "new" GM building the Chevy Cruze in Lordstown. All that did was give hope & comfort to a group of unionized workers who should have all lost their jobs and joined the rest of the real world long ago. Union = bad, non-union is best; Democrats are pro-union, so all Democrats are bad, especially for the rest of us who choose to be unaffiliated. Clear?
The OH Life

Columbus, OH

#9 Jan 26, 2011
Kasich and Fox News wrote:
1900 lost Jobs on Kasich's watch.
Sorry Moron, it's not effecting just local, it's national... and if it were local, you can point the finger to your buddy Teddy and his decisions...or lack there of. Kasich's adminstration is currently reviewing the policies and regulations that have been set prior to him giving Strickland the boot.
Joker

United States

#10 Jan 26, 2011
Obama strikes again. Democrats harm 1900 families so far today.
Observer

Walbridge, OH

#11 Jan 26, 2011
Cut cut cut wrote:
How old is this story? Abbott announced this morning they are cutting 1900 jobs; six-percent of its workforce.
http://chicagobreakingbusiness.com/2011/01/ab...
Sounds like you are criticizing. Why? Your source published the story today, also.
Observer

Walbridge, OH

#12 Jan 26, 2011
tom the traveler wrote:
from the article:
"Abbott blamed the cuts on new fees and pricing pressures associated with the health reform law and a "challenging regulatory environment" at the Food and Drug Administration, which approves new drugs."
I guess this must be Bush's fault and the fact that Kasich worked for Lehman Bros.
Before you go thinking that health reform caused a loss of jobs, look at one of the reasons they are cutting. The health reform law is keeping health plans from covering drugs that are more expensive but offer no or little extra advantage.(See source listed by "cut, cut, cut" above.) Isn't that what we do every week when we shop for the best value items at the grocery store?
Witness

Grove City, OH

#13 Jan 26, 2011
Save them jobs Governor Kasich --save them jobs!!
BDD

Chicago, IL

#14 Jan 26, 2011
I just lost my job (2 weeks ago) here in Chicago, related to
the pharma industry. THANK YOU OBAMACARE!
BDD

Chicago, IL

#15 Jan 26, 2011
Kasich and Fox News wrote:
1900 lost Jobs on Kasich's watch.
This is in part because of Obamacare.
Progressive Ohioan

Columbus, OH

#16 Jan 26, 2011
It wouldn't have anything to do with the fact that Abbott has created anything INNOVATIVE, now would it??? We certainly don't hear of Abbott as much as we hear of Bristol/Meyers/Squibb or Pfizer or Merck??

Bite it Abbott and go out and create something that is actually beneficial and cures people. You're in a free market economy. Compete to WIN or perish.....
Matt Tullis

Mansfield, OH

#17 Jan 26, 2011
"Abbott blamed the cuts on new fees and pricing pressures associated with the health reform law and a "challenging regulatory environment" at the Food and Drug Administration, which approves new drugs."

Says Abbott: Why do we actually have to prove our drugs do what we say they'll do, and that they don't actually kill people? It's just not fair. We want more money dammit! I mean, really, insect parts in baby formula is no big deal. Kids eat bugs anyway.
Oh Brother

New York, NY

#18 Jan 26, 2011
Give me a break, I hate when the pharmacutical industry complains because of regulations, etc. are hampering their advancement of science. Think about it folks, with all the diseases out there such as AIDS and Cancer you would think one of these facilities would have a cure by now. Or could it be they want to milk society of every dollar they have for profits, because you know if they found a cure for everything they wouldn't have a job. What's more important a diet pill or an advanced drug for Cancer???? Research needs spent on the most important matters, so more regulation is needed.
This is WallStreet

Euclid, OH

#19 Jan 26, 2011
This isn't due to Obamacare..this is Wall Street's fault. Wall Street investors and their never-ending expectation of continually growing profits. If they were more capable of taking the long view and being more practical in their outlook, then corporations wouldn't feel so much pressure to keep the profits unrealistically growing. And corporations should have a little more ingenuity in cutting costs instead of the same old tired approach of laying people off.

Capitalist greed strikes again!
Sam

North Chicago, IL

#20 Jan 26, 2011
Let's just say it's not just sales/marketing & manufacturing, it's everyone. 8 engineers walked to the door this morning.

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