Well, um, surprise?
(Daily Caller) General Electric is telling its investors that Obamacare is to blame for recent losses in the company’s health care division, The Daily Caller has learned.
“Hospitals and clinics appear to be delaying purchases and responses to the ACA [Affordable Care Act],†stated GE senior vice president and CFO Jeffrey S. Bornstein in the company’s first-quarter earnings call.
General Electric CEO Jeffrey Immelt, an outside economic adviser to President Obama, confirmed at a shareholder meeting Wednesday that the health sector is experiencing uncertainty.
Asked at the meeting about Obamacare’s impact on the company’s earnings, Immelt responded, “I think there’s still a lot of uncertainty in health care and we’ll just have to see that over time.â€
Uncertainty is a part of business. When Government steps in and makes the uncertainty artificially worse, especially in a huge sector of the economy, that’s a major problem. Government should take a light touch, should certainly only implement rules that are very specific, and should act mostly like refs, keeping things honest with agreed upon rules. Not causing problems and economic hardship.
[…] H/T The Pirate’s Cove […]
It’s possible that as the cost of healthcare in the US continues to drop that companies such as GE, (even though they have several million new healthcare customers), will not gain as much profit. Or this could a problem for this quarter. It’s not unusual for CFO’s to blame others for poor performance.
The government is responsible to all citizens, not just the shareholders of GE. Health care providers, drug companies and device manufacturers like GE now have millions of new customers (and increasing) and should be able to find ways to take advantage of their windfall.
You lie down with dogs…
Jeffery, what color is the sky in your bubble?
Alan please tell us about YOUR bubble.
Are you in the anti science anti sex bubble covered by Fox News?
The uber right has consistently been wrong about what would happen with the Affordable Care Act
As far as GE they have been doing VERY well under Obama parking their profits overseas so as not to be taxed. Usually they earn a profit of about 10 billion a year.
John, what about your bubble? At least ours are here on earth. “The uber right has been consistently wrong about what would happen with Obamacare.” Actually, if one weren’t in a bubble one would know that the right has been consistently correct about this disaster. Obama said it would be cheaper, you could keep your doctor, and you could keep your plan. The right predicted the opposite of all those things. Guess who was lying? Yes, Obama. Good guess. And Jeffery- “as the cost of healthcare continues to drop. “Continues”? Where? John- if you’re looking for someone in a bubble, look to your cohort.
[…] William Teach wrote about General Electric’s statement that Obaminablecare is hurting it’s health care equipment sales. […]