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 ...
LOL, we really need to start a thread of our favorite ways to mess with Oboyma's name.
Straight out of “Atlas Shrugged”. The RATS will pass laws that make it illegal for any business to go out of business or even layoff any workers.
Obama is killing America one job at a time. Or, in this case, 11,000 jobs at a time.
That will be 11,000 just to start with... As price go up so do job losses....
The law, and reality will soon kick in, and their song and dance will change. There is no possible way that their bottom line will go unaffected by Obamacare. They're going to have to 'fess up soon.
This has come back to bite them. They don't want the truth out there about what health care is going to do to companies' earnings.
Be sure to thank our President and the DemocRATS for this.
The companies will only pass the cost down to it’s consumers. And Obama tells us that only the rich will pay for this socialist program.
Enjoying those anti-family hiring policies, AT&T? LOL!
Moral: big corporations should get away from the policy of hiring likely Democrats, supporting feminist causes, etc.
You have to vote for it to see what’s in the bill.
And the idiots did
I love this idiocy true Obama sheep.
I’ve been frustrated lately that it seems no one in the media, conservative or not, is mentioning that AT&T, CAT, Deere, etc., are all required by law to issue communications like this.
Mr. dumbass Henry Waxman’s obvious revenge move is laughable. The SEC requires publically traded companies and corporations to file statements whenever there are significant impacts to operating costs. Failure to do so can result in future charges of knowingly withholding information which can negatively impact its shareholders and the value of its stock price. A billion dollars is a significant impact that WILL affect future earnings. DUH!
The bottomline: These Companies are complying with the law!!!! Waxman needs to eat shit and die.
How many thousands of companies are in exactly the same situation as AT&T and the other few that have so far announced healthcare charges?
“LOL, we really need to start a thread of our favorite ways to mess with Oboyma’s name.”
LOL, yeah mockery and ridicule being one of the ways we apply reverse Alinsky rules (back in their face - and you know they hate it (even though they’ve applied it against us in the RAT press for decades!)
“There is no possible way that their bottom line will go unaffected by Obamacare. They’re going to have to ‘fess up soon.”
Even if they have to do an Enron faceplant...
“The companies will only pass the cost down to it’s consumers. And Obama tells us that only the rich will pay for this socialist program.”
The big LIE from the RATS...they think and act as if we’re STOOOPID...or as Glenn Beck likes to say, ‘they think we’re all dumb, dumb, dummies!’
“I’ve been frustrated lately that it seems no one in the media, conservative or not, is mentioning that AT&T, CAT, Deere, etc., are all required by law to issue communications like this.”
There were something like 400 stories about this in the RAT press since last Friday. I don’t think we’re done hearing about the reality of this WARTHOG of a health fraud bill.
Bring this up with all your friends, co-workers and colleagues...make the Obamunistas OWN this crap sandwich.
You can do it nicely, diplomatically, if you wish...;)
Think about the total aggregated costs rippling through the private sector thanks to the socialist hogs. It's got to amount to million(s) of jobs and just untold opportunity costs for all of us in the US economy.
It's stupefying and why we fought this disease tooth and nail, and continue to do so.
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