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 ...
I am looking forward to Taxman Waxman’s “investigation” of reality.
Well, Prudential doesn’t know CRAP about insurance, and they have crappy accountants working there so this is obviously politically motivated grandstanding. /s
Bambi will have Holder slap a gag order on them. How dare they criticize his ‘defining moment?’
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.
"Shut up, Shut up, SHUT UP!!!!"
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
"I'd rather be a really good Marxist one-term President than a bad patriotic two-term President."
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.
bttt
They are legally required to by the SEC and Sarbanes-Oxley.
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.
"This is nothing but straight up racism!"
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.
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.
As I am....I pray CSpan carries them live.
Not to mention Chrysler, GM, and Ford ...
And lets not forget ALL of the teacher's unions out there ...
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