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Prudential to take $100M health care charge in 1Q (ObamaCare)
AP ^

Posted on 03/29/2010 8:56:26 PM PDT by Chet 99

NEW YORK — Insurer Prudential Financial Inc. said Monday that it will take a $100 million charge in the first quarter in relation to the recent health care overhaul legislation. The life insurance and annuities provider said in a regulatory filing that it will take the charge against earnings in the first quarter.

Prudential joins a growing list of companies that have said they will take accounting charges because of the health care bills. AT&T said last week it would take a $1 billion charge in the first quarter. AK Steel Corp., 3M Co., Caterpillar Inc., Deere & Co. and Valero Energy have also said they would take smaller charges.

(Excerpt) Read more at google.com ...


TOPICS: Business/Economy; Front Page News
KEYWORDS: 111th; bho44; bhoeconomy; bhohealthcare; democrats; economy; healthcare; healthcontrol; healthinsurance; jobs; obamacare; prudential; socialisthealthcare; taxes; unemployment; unempoyment; waxman
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1 posted on 03/29/2010 8:56:26 PM PDT by Chet 99
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To: Chet 99

I am looking forward to Taxman Waxman’s “investigation” of reality.


2 posted on 03/29/2010 9:01:56 PM PDT by FormerACLUmember (The urge to save humanity is almost always a false front for the urge to rule. - H. L. Menken.)
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To: Chet 99
It's starting to look as if Obamacare may have wiped out several billions of dollars of first-quarter profits. Wow! Quite an "accomplishment" - if you're a dyed-in-the-wool marxist, that is.

Plato on Obama, medium
3 posted on 03/29/2010 9:03:55 PM PDT by Oceander (The Price of Freedom is Eternal Vigilance -- Thos. Jefferson)
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To: Chet 99

Well, Prudential doesn’t know CRAP about insurance, and they have crappy accountants working there so this is obviously politically motivated grandstanding. /s


4 posted on 03/29/2010 9:04:09 PM PDT by Attention Surplus Disorder (Voters who thought their ship came in with 0bama are on their own Titanic.)
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To: Attention Surplus Disorder

Bambi will have Holder slap a gag order on them. How dare they criticize his ‘defining moment?’


5 posted on 03/29/2010 9:10:36 PM PDT by ARepublicanForAllReasons (President Zero, walking in the footsteps of Hugo Chavez)
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To: ARepublicanForAllReasons

I know you are at least halfway kidding, but you conjure a very intriguing image.

I would LOVE to see a WWF tag team match between corporate disclosure requirements under SarbOx which require immediate disclosure of adverse impacts from operating conditions, and a Justice Department gag order to keep those impacts under wraps.


6 posted on 03/29/2010 9:20:12 PM PDT by Attention Surplus Disorder (Voters who thought their ship came in with 0bama are on their own Titanic.)
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To: Chet 99

"Shut up, Shut up, SHUT UP!!!!"

7 posted on 03/29/2010 9:24:30 PM PDT by Mr. Jeeves ( "The right to offend is far more important than any right not to be offended." - Rowan Atkinson)
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To: Chet 99

Somebody should add up all the costs that private sector businesses will have to bear because of Obamacare. Who is going to pay all those costs. Consumers, of course. Doesn’t that amount to raising indirect taxes on people? The cost of Obamacare is far more than figures touted by Obama, because his figures donot include costs born by private sector


8 posted on 03/29/2010 9:25:25 PM PDT by kp2hot
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To: Attention Surplus Disorder
How dare Prudential, John Deere, Caterillar, 3M, et al obey the law? Don't they know it's ILLEGAL!? (to criticize the One).
9 posted on 03/29/2010 9:29:02 PM PDT by ARepublicanForAllReasons (President Zero, walking in the footsteps of Hugo Chavez)
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To: ARepublicanForAllReasons
El Presidente Zero:

"I'd rather be a really good Marxist one-term President than a bad patriotic two-term President."

10 posted on 03/29/2010 9:37:19 PM PDT by ARepublicanForAllReasons (President Zero, walking in the footsteps of Hugo Chavez)
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To: Attention Surplus Disorder

I sincerely hope all companies that incur cost over this will show an itemized charge on our bills. I want them to clearly show the American consumer just how much O-Bummers free health care is costing them.


11 posted on 03/29/2010 9:51:24 PM PDT by chaos_5
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To: Chet 99

bttt


12 posted on 03/30/2010 2:06:01 PM PDT by opentalk
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To: Chet 99
Their executives will be getting a subpoena invitiation to Waxman's Wild and Wacky Show Trials any moment now!
13 posted on 03/30/2010 2:06:22 PM PDT by bamahead (Few men desire liberty; most men wish only for a just master. -- Sallust)
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To: chaos_5
I sincerely hope all companies that incur cost over this will show an itemized charge on our bills.

They are legally required to by the SEC and Sarbanes-Oxley.

14 posted on 03/30/2010 2:09:07 PM PDT by Ditto
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To: Chet 99

Wait until UPS announces the impact on their business. They have boatloads of retiree’s who have health benefits and it is a very generous plan. It will top AT&T’s $1B charge.


15 posted on 03/30/2010 2:09:17 PM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Chet 99
Prudential joins a growing list of companies that have said they will take accounting charges because of the health care bills. AT&T said last week it would take a $1 billion charge in the first quarter. AK Steel Corp., 3M Co., Caterpillar Inc., Deere & Co. and Valero Energy have also said they would take smaller charges.

"This is nothing but straight up racism!"

16 posted on 03/30/2010 2:23:25 PM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: Chet 99

Waxman’s going to need a change of venue for his inquisition. Perhaps the new Washington Redskins stadium? I hear they’re in the proces of installing 100-feet wide, state-of-the-art high definition LED displays at each end zone.


17 posted on 03/30/2010 3:16:21 PM PDT by Mad_Tom_Rackham (It is the duty of the patriot to protect his country from its government -- Thomas Payne)
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To: AdmSmith; Berosus; bigheadfred; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; ...
Insurer Prudential Financial Inc. said Monday that it will take a $100 million charge in the first quarter in relation to the recent health care overhaul legislation. The life insurance and annuities provider said in a regulatory filing that it will take the charge against earnings in the first quarter. Prudential joins a growing list of companies that have said they will take accounting charges because of the health care bills. AT&T said last week it would take a $1 billion charge in the first quarter. AK Steel Corp., 3M Co., Caterpillar Inc., Deere & Co. and Valero Energy have also said they would take smaller charges.

18 posted on 03/30/2010 5:25:52 PM PDT by SunkenCiv ("Fools learn from experience. I prefer to learn from the experience of others." -- Otto von Bismarck)
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To: FormerACLUmember

As I am....I pray CSpan carries them live.


19 posted on 03/30/2010 8:46:49 PM PDT by cranked
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To: Wyatt's Torch
Wait until UPS announces the impact on their business. They have boatloads of retiree’s who have health benefits and it is a very generous plan. It will top AT&T’s $1B charge.

Not to mention Chrysler, GM, and Ford ...

And lets not forget ALL of the teacher's unions out there ...

20 posted on 03/30/2010 8:49:00 PM PDT by Lmo56
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