Posted on 03/31/2010 9:33:20 AM PDT by SonOfDarkSkies
The CEOs of some of the country's biggest companies are being summoned to Washington to defend claims that the health care reform law would cost them millions -- a move Republicans say amounts to intimidation.
Democratic Rep. Henry Waxman, chairman of the House Energy and Commerce Committee, on Friday fired off letters to the heads of Caterpillar, Verizon, AT&T and Deere after they and other firms reported that the health care overhaul would dig deep into their bottom lines.
Caterpillar claimed it would raise costs by $100 million in the first year and imperil coverage for its 150,000 employees and retirees. Deere estimated it would raise expenses by $150 million.
Waxman, in his letters, called these estimates a "matter of concern" and said they "appear to conflict with independent analyses" showing the law would lead to a decrease in premium costs for large companies.
(Excerpt) Read more at foxnews.com ...
“Cowgirl”???? We have five Quarter Horses. All cutting bred.
Looks like Lenin.
Why is this a surprise. This is what Facists do.
This is what central planning looks like people. It would be better named “central intimidation”.
The need to disclose the impairmnet of earnings is not an obscure rule, but apparently neither Congress nor the administration knew about it. Any MBA knows this, and most investors do too.
These people do not have the capability to manage our economy. The new healtcare system is going to fail early.
They are. Sarbanes-Oxley.
This is lousy reporting - the whole picture changes when one realizes they’re reporting this because the law says they have to.
If the leaders of the insurancer companies that write medical insurance had any sense, they would go out of bussiness today before quitting time.
Joseph McCarthy: Capitalist looking for communists.
Henry Waxman: Communist looking for capitalists.
Where’s the shame?
They should tell congress to go $%#k themselves and read their MANDATORY SEC quarterly filings like everyone else. This is intimidation and our business leaders do not have to play ball. VERY un-American, we are looking more like a marxist regime every day thanks to the Dems.
I have made/am making phone calls today to Deere, Caterpillar, and AT&T -— and now Boeing -— giving them encouragement to stand up and tell the truth. I told them that us average folks who run businesses ourselves understand and are behind them. I said to tell Waxman and his goon squad that business IS NOT a welfare organization tasked with providing jobs and benefits for the masses -— business hires employees when there is enough work that we need more people to do it, and that benefits are used to hire and retain quality employees -— no more, no less. I said to tell the senators that people who buy stock are “loaning” money to the company with the expectation of “interest” on their investment, and that the company has an obligation to the stockholders just like it does to bankers that hold loans. I told them to stand up for business because once the government takes over the big businesses, they will be coming for us little guys as well and we don’t have the resources to fight like they can. It may not do any good, but I though a voice of encouragement just might help these guys right now!
Howard Hughes told the Senate to cram it in their arse... he won too!
LLS
I’d tell Thundernose:
“Exactly what LAW requires us to fly to DC to listen to you babble?”
That’s just my point. If these big companies stuck together, Congress couldn’t do a thing. As big as AT&T is, they could do it by themselves.
They can and they had better do it for ALL of us. I agree with you... just was making a statement.
LLS
Since free speech is a right secured by the Constitution, I’d love to see one of these CEO’s bring a title 1983 (civil rights) lawsuit against Waxman.
What we need are a lot more Ollie North moments when this backfires on them. The Clarence Thomas “high-tech lynching” speech was another good example.
“The CEOs of some of the country’s biggest companies are being summoned to Washington to defend claims that the health care reform law would cost them millions — a move Republicans say amounts to intimidation.”
Another round of companies who will be leaving this country.
I remember when they went after him. It was ridiculous and it’s no wonder companies are leaving.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.