Healthcare giant Johnson & Johnson (JNJ) reported a beat on both the top and bottom line expectations as it posted its Q2 2018 earnings. This was aided by a double-digit growth in Pharmaceutical business and the accelerating sales momentum in the Medical Devices business. https://news.alphastreet.com/johnson-johnson-beats-on-top-and-bottom-lines-in-q2/
How can this company keep exceeding revenue projections with better than 23% profit every quarter but.... offer the absolute, bottom rung pay & health care plan for their employees?Worst vacation plan in the industry? Would our share holders really bolt if we "only" made 20% profit but had exceptional health care & benefits for our employees? Plus, how much is our industry leading turnover costing? Has anyone done the math to learn if our profitability would even change? Benefit costs go up 40% but turnover goes down to single digits instead of one of the highest in pharma?? Might be even money. I know this for sure- the Credo is complete bullshit. Actual Credo- J&J is committed to sucking every dime out of our customers while paying our employees the absolute bottom wage that we can and operate at the very bottom threshold of the law. "We may not ever do what is right but we will win in court!"
All valid points. JNJ sells themselves on the carrot of healthcare in retirement. I would love to know the % of new hires that ever make it long enough to qualify for this carrot. My guess is it's pretty low, that's why it's never published.
By the time this country gets a new democratic president, he/she will be a socialist. That will mean single payer and you can say goodbye to the majority of your take home pay with big gov't. Glad I am out of the work force and was born when I was and enjoyed what will end in the future when the socialist democrats confiscate your $$$.
