Smoking ban benefactor J & J suffers revenue losses, plans deep job cutsFrom NYT comes this story:
In what had already been a year of drastic job cuts in the drug industry, the health care giant Johnson & Johnson said Tuesday that it would eliminate 6 to 7 percent of its worldwide work force — about 7,000 to 8,200 jobs — as part of a corporate revamping.
CTA has little sympathy for J & J whose partner Robert Wood Johnson Foundation (RWJF) funds smoking ban lobbyists to help boost alternative pharmaceutical nicotine products that J & J manufactures.
J & J, thru RWJF, has had an even larger negative effect on jobs around the world by promoting smoking ban legislation on private properties. Legislation which has eliminated hundreds of thousands of jobs.
The lesson here should be: Rent seeking companies reap what the sow.