Johnson & Johnson estimates profit loss upon Venezuelan devaluation
The company projects that devaluation will translate into a loss of four cents per share in the first quarter, yet it will not hit profits in 2013
J & J said that the charge is equivalent to about four cents per share and will not hit the company's estimated income in 2013 (USD 5.36-5.45 per share), Reuters informed.
Early in February, Venezuela devaluated the bolivar from VEB 4.30 to VEB 6.30 per US dollar. This is the country's fifth devaluation in 10 years.
José Vicente Rangel clearly said: "We are not conducting negotiations threatened with a gun in the head." He warned behind closed doors in the midst of the social upheaval occurred during the oil strike in 2002 and 2003. Dissenting Timoteo Zambrano answered back that no other option was available: "The thing is that otherwise, you do not negotiate."