Posted on 03/31/2010 7:02:41 PM PDT by brianhumeck
Retirees and other people on Main Street who invest in mutual funds better get ready to lose money because of the health care reform bill. Even those foolish people who supported it will lose money.
Even if it the health care bill is repealed and replaced later, companies are losing 2010 1st quarter profits directly related to the health care bill. There’s no getting that money back unless you won’t be retiring for a while. Here’s another company losing millions due to Obamacare.
(Excerpt) Read more at gleestreet.com ...
So my new and updated list:
ATT 1 billion
Caterpillar 100 million
Deere & Co. 150 million
AK Steel 31 million
3M 90 million
Valero Energy 20 million
Prudential 100 million
Allegheny Tech 5 million
ITW 22 million
Boeing 150 million
Xcel Energy 17 million
Goodrich Corp 10 million
Honeywell 13 million
Lockheed Martin Corp 96 million
Ingersoll-Rand Plc 41 million
Bottom line to date: 1.845 Billion in charges
—add:
Illinois Tool 22 million-—
That’s ITW, Illinois Tool Works. I’ll expand the name on my list.
Ping
At this rate, we are looking at 10-20 billion, perhaps more sucked right out of the economy.
BM and Bump!
Ok, That’s my problem. I had ITW and Illinois Tool in the list. Thanks
Sold tire business in 1988, BF Goodrich became Goodrich Corp in 2001.
There’s a new one this morning: Eaton Corp 25 million.
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