Job Creation Here We Come [Jonah Goldberg]
Press release:
DEERE SAYS NEW HEALTH CARE REFORM LAW WILL INCREASE 2010 EXPENSE BY $150 MILLION AFTER-TAX
MOLINE, Illinois (March 25, 2010) — Deere & Company announced today that the Patient Protection and Affordable Care Act signed into law this week will adversely impact its expenses for fiscal 2010. As a result of the legislation, the company’s expenses are expected to be about $150 million higher on an after-tax basis, primarily in the second quarter. This impact was not included in the 2010 outlook for net income attributable to Deere & Company of approximately $1.3 billion disclosed in the company’s first-quarter earnings report on February 17th.
03/25 10:03 AM
Deere and CAT both getting hit is really going to hurt West central Illinois. Peoria and the Quad Cities are so close in the same area. I grew up smack dab in between the 2 in Knox County, and A LOT of people from that area are employed by both those companies. Nice hit to the people of Obama’s own state, I pray for my friends who still work at Deere and CAT.
Verizon has some announcement about lost benefits due to this passage too. I just heard it but haven’t seen anything concrete.