Posted on 03/31/2010 7:44:05 AM PDT by SeattleBruce
NEW YORK (Reuters) - AT&T Inc said on Friday it would record a $1 billion non-cash charge for the current quarter related to the new U.S. health care reform law, as lawmakers called on the company and three other large employers to testify about expected cost hikes.
AT&T's charge appeared to be the largest in a series of charges announced by U.S. companies this week.
A House Energy and Commerce subcommittee said on Friday it will call on the chief executives of AT&T, Caterpillar , Verizon and Deere to testify on April 21 about how the reform might adversely affect their ability to provide health insurance.
"The new law is designed to expand coverage and bring down costs, so your assertions are a matter of concern," the subcommittee said in the letters.
(Excerpt) Read more at abcnews.go.com ...
I love this idiocy: ‘”The new law is designed to expand coverage and bring down costs, so your assertions are a matter of concern,” the subcommittee said in the letters.’
In what world is it acceptable for legistlators to vote on something they’ve not read, nor explained in real terms to the populace.
NOT ACCEPTABLE. Vote the RATS OUT!
I heard that the liberal view of this is that companies want to embarrass the president, and that they came out with this news of higher expenses to ruin his moment of victory.
AT&T, Deere CEOs Called by Waxman to Back Up Health-Bill Costs
Juan Williams yesterday claimed that they want tax deductions and are making a ruckus.
IN a dictatorship?
I must be stupid. Could somebody please explain to me how expanding a program will bring down costs? I guess I just thought that when something is expanded, it will cost additional money for the expansion. Therefore, more money has been spent. If more money is spent, aren’t costs increased?
I guess they’ll just have to “nationalize” those companies that bring up embarassing truths.
Well if that’s the case, then they ought wonder why the same corporations gave money to get Obama elected. (Answer: corporations give money to both candidates).
They should tell Waxman “GFY!” and send him a copy of Sorbanes-Oxley. But they will go and tiptoe around and let themselves be browbeaten for daring to follow the law.
Waxman is the one who needs schoolin’, but it won’t happen.
“I heard that the liberal view of this is that companies want to embarrass the president, and that they came out with this news of higher expenses to ruin his moment of victory.”
I say the fight is LONG from over and whether it’s us, at the ballot box in November and in 2012, or these CEOs dealing a dose of market reality like this.
Now to the point that they might be saber rattling for tax benefits. Good. This isn’t as smooth sailing and momentous, as the spin meisters around obaMAO led him to believe.
So sorry.
Pelosi : “But we have to pass the bill so that you can find out what is in it, away from the fog of the controversy.”
http://healthcare.nationalreview.com/post/?q=ZTcxYWFkMmQ1ODA1Mzk5MzkwMDNmNWNlMzUwNTViNWM=
“I guess they’ll just have to “nationalize” those companies that bring up embarassing truths.”
The financial/market civil war begins...LOCK AND LOAD.
Oooopsie! And when the Obama Libs start experiencing the joy of a layoff due to company over-taxation etc etc etc, I wonder if they’ll wake-up?
Breaking: Boeing to Recognize Charge Associated With Health Care Law ($150M!)
http://www.freerepublic.com/focus/f-news/2483847/posts
Oooopsie! And when the Obama Libs start experiencing the joy of a layoff due to company over-taxation etc etc etc, I wonder if they’ll wake-up?
+++++++++++++
They won’t. But more and more indies that voted obaMAO will..
Looks like your independent analyses are wrong!!!
Yet they are too PC to have said anything before the vote.
“Yet they are too PC to have said anything before the vote.”
Yeah, but obaMAO’s soft support is peeling away faster than a sunburn...;)
Maybe they said something but the MSM was too pro-BHO to report it. Then again, all they'd have to do was call Fox News. (But, we're talking about AT&T. You're probably right.)
General Electric Co., the world’s biggest maker of jet engines, power-plant turbines and locomotives, said today it doesn’t anticipate taking a charge tied to the health-care law.
GE, of Fairfield, Connecticut, doesn’t see any “material effect” from the law, spokeswoman Anne Eisele said today.
This from an article linked in one of the threads on the topic... will post link when i find!
“This from an article linked in one of the threads on the topic... will post link when i find!”
The financial civil war on the health fraud bill has commenced...11/2010 is coming soon - a mere 7 months away. (Can’t come soon enough!)
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