Today on the Morning Update, Blue States follow a predictable pattern. Take control. Increase spending, add regulations, increase taxes, add new ones, which eventually drive wealth and job creators away. Vermont wanted to be like California. Like New York. And so they are.
00:00 Introduction and Overview of Perrigo’s Business Model
01:26 Financial Performance and Challenges in Vermont
03:18 Impact of Political Climate on Business Operations
Watch on the ‘Grok Rumble Channel if the embedded video does not load.
Ep 167 links:
- https://www.perrigo.com/history-convenient-healthy-solutions
- file:///C:/Users/steve/Downloads/FINAL%20-%20Perrigo%202025%20Annual%20Report.pdf
- https://vtdigger.org/2026/05/06/perrigo-to-lay-off-161-as-company-heads-toward-vermont-site-closure/
- https://fred.stlouisfed.org/series/VTLF
- https://www.youtube.com/watch?v=qTAmpXJBoCk
Authors’ and Speakers’ opinions are their own and may not represent those of GraniteGrok.com’s sponsors, readers, authors, or advertisers.
Transcript [lightly edited]:
Welcome to your Friday, May 8th, 2026, morning update.
In 1887, a general store owner named Luther Perrigo had an idea. He decided he would, for free, private-label everyday products for other general stores, put their name on them so they could develop brand loyalty for every local general store that was interested. 138 years later, this idea has evolved into a massive business, which manufactures and distributes over-the-counter medicines, non-prescription type stuff, and general personal care items all over the world.
And they’re doing pretty well for themselves.
Their 2025 financial highlights, adjusted earnings per share of 275 up 7 % year over year,
Adjusted operating income up 2.3 % year over year, adjusted operating margin expansion of 70 basis points, year-end cash and cash equivalents of 532 million, supported by 239 million in operating cash flow. They’re doing just fine, but not in Vermont. They manufactured baby formula for stores with store branding.
And last year, they announced that they are closing the facility. Why would a company that’s doing so well close a facility in Vermont?
Perrigo has operated in Georgia, Vermont (Yes, there is a place called Georgia, Vermont) since 2010, which was during an expansion period. They were growing. They still kind of are. Things look pretty good, but not for their plant in Vermont. Last year, they deemed the current situation as not cost-effective.
The company cited aging infrastructure and evolving regulatory requirements in its statement. Vermont made it too difficult for them to do business there. One suggests that their land use rules kind of interfered with any idea about expansion, and they’re in a very old facility, which is too expensive to update given the current regulatory requirements.
I would imagine that the Democrat party’s domination of that state tax structures, cost of living, just about everything else, have had a serious impact on their ability to operate there effectively, efficiently, and profitably. Over 400 people in Vermont are going to lose their jobs. This appears to be a trend that has been developing and getting worse over the last few years.
Vermont kind of bounced back after COVID, but for the last few years, labor force participation has been in a slow steady decline. Vermont is killing itself and the Democrat Party is probably to blame. That’s a warning. Vermont wanted to be like New York State. They wanted to be like California. And don’t act surprised. They are. And you get the same results. But here’s a bigger warning.
This will happen everywhere Democrats take control for any prolonged period of time.
If you just don’t elect them, you won’t end up like California. You won’t end up like New York. You won’t end up like Vermont.
That’s it for today.
That’s it for this week.
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