Posted on 03/25/2010 10:56:56 AM PDT by From The Deer Stand
Deere Says New Health Care Reform Law Will Increase 2010 Expense By $150 Million After-Tax
MOLINE, Illinois (March 25, 2010) — Deere & Company announced today that the Patient Protection and Affordable Care Act signed into law this week will adversely impact its expenses for fiscal 2010. As a result of the legislation, the company's expenses are expected to be about $150 million higher on an after-tax basis, primarily in the second quarter. This impact was not included in the 2010 outlook for net income attributable to Deere & Company of approximately $1.3 billion disclosed in the company's first-quarter earnings report on February 17th.
I fel bad for John Deere, but, ah, they just now figured this out? Where were they during the fight?
deere, caterpillar, verizon . . . all reporting that this bill will cause enormous problems . . . and the bill is only a couple of days old.
I predict massive job losses and factory closings, in addition to dumping insurance coverage onto the government plan.
Everybody but General Motors.
Sounds like they are trying to push what is left of our industry out of the country!
more loss of employment.
exactly.
and the hits just keep coming! Obamacare: DAY 1
Yeah!....All this will be forgotten by November!
Anyone thinking about picking up a tractor better do so in short order. If you think the sticker shock is bad now just wait.
Thats the second large manufacturing company to publically state that Obi-care will cost them big money, causing them to be less competitive with foreign companies.
Dems comprehend economics like kindergarteners comprehend quantum mechanics ... not at all.
That was the plan all along - bingo! single payer.
Remember that great quote Citizen - “The only thing to fear, is Fear itself”. We have already anticipated that the government insurance plan will be the only one that you can rely on as the others are based on fear and greed.
And pay no heed to those evil companies and factory closings. With these dire times, now is not the time for profits. Companies that do not stay open because they are more concerned with making money rather than the Worker will be taken care of in the same manner that we have put GM back on track as we rebuild America.
What really pisses me off is that this is all done by design. Cause businesses to fail, unemployment to skyrocket, and then the entire welfare state will collapse.
Then Obama and the Feds will be "forced" to rebuild a new society from the ashes.
The plan is so obvious, why don't more people see it?
Depending on what plan we choose, the company pays 100% of our monthly premiums, and we pay a reasonable yearly deductible. I have a feeling we are not going to like the change.
Tax receipts are already decreasing. Did the CBO include this in its estimates. Fat chance of that being the case.
I think businesses should have told the demons directly that if you impose this law on us we will shed jobs by the millions and there is nothing they can do about it.
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