Posted on 03/25/2010 9:04:26 PM PDT by Libloather
Companies Take Health-Care Charges
Deere Joins Caterpillar, AK Steel in Toting Up Costs of Overhaul; White House Disputes Accounting
BY KRIS MAHER, ELLEN E. SCHULTZ AND BOB TITA
MARCH 26, 2010
In the wake of Washington's health-care overhaul, some companies are taking big one-time charges for anticipated costs, fanning tension with the administration over the legislation's impact on corporate America.
Three companies that were among vocal opponents of the legislation have warned they would see an immediate impact on their earnings as a result of the loss of deductions on tax-free subsidies they receive for providing retiree prescription-drug benefits.
On Thursday, Deere & Co. said it would take a $150 million one-time charge in the current quarter related to the loss of deductions. Earlier in the week, Caterpillar Inc. reported a ...
(Excerpt) Read more at online.wsj.com ...
RUSH: And don't forget, it was Caterpillar that said the health care bill is going to cost them $100 million. Now, this is going to lead to more unemployment, folks, and it's gonna lead to fewer health care benefits. That's just this year, for John Deere and Caterpillar. And those are big corporations. Small businesses are also being hit. I can give you details if you wish.
They can’t afford it because the Rats intention is to drive them out of business or force them to drop health care insurance and then the people will demand Obamacare.
Buh Buh...Obama told me my health care premiums would go down, and that would allow my employer to raise my salary...
I wish a handful of these big company CEOs would call their own SUMMIT and invite Obama to come and hear how things actually are.
Why don’t they? Buncha pansies, is why. I’m sick and tired of them being the victim but not having the guts to stand up to his face and tell him this bullsh!t is killing jobs and hurting their business and the economy.
Since the media ain’t gonna do it, Rush and a few others have to tell the truth.
No holds barred, take no prisoners, name names and make these red bastards pay dearly for the consequences of nearly one hundred years of insidious and unrelenting attacks on capitalism and judeo-christian morality.
The days of marxists operating in the open in your face and you'll like it or else are fast drawing to a close.
THESE RED SONS OF BITCHES THINK THEY CAN STEAL THE PRODUCTIVE CLASS MONEY BY THE ELECTORAL PROCESS.
WRONG.
I passed this around my office today people couldn’t believe it. America IS waking up.
Fear not, Zero and his minions will see to it the government owns Catipillar and cell phone companies soon. Everyone will get a cell phone for free.
Bama is trying to take out the Private sector plain and simple...be it Insurance Companies, Banks, or Manufacturing. They will all eventually have to be “saved” by the gov’t....Obama will take over and Nationalize many companies to stabalize the economy......That will be the “disaster” barry will use to insist he needs to focus on the economy not run an re-election campaign. He will give himself emergency powers put off the elections and that’s all folks.....
If each of the S&P 500 companies has to pay an additional $100M this year (using Caterpillar as the example), then the total tax for the US Gov’t is (I hate doing math in public) $50B! And the S&P 500 represents just a fraction of our economy. That is job producing capital that is being drained into the cess pool of the Treasury Dept.
My office is all college edumacated folks.
And they are placid.
God Save the Republic!
And that's called - competition.
This is where I often wonder why we aren’t more like the democrats.
If we were more like the democrats - we would immediately find a Caterpillar employee. Or preferably - a married couple with kids who both work for caterpillar.
Their jobs are in jeapordy! They could lose their house!
They will lose health coverage and O’Care doesn’t kick in right away!
Sob, sob, sob.
We need to sob more!
A CEO's first responsibility is to his/her shareholders. Quite frankly, I am impressed that these companies have come out so quickly on the impact of the legislation on their bottom line. Of course, their motivation is probably more to set Wall Street expectations on a drop in profits (I think John Deere's profits will drop at least 15% per a friend who works their) than to make a political statement.
Lest you forget, small business owners were invited to talk to the president. There were some good ideas presented to mr. Obama. What was the president's response? He blamed bankers for not lending money to small businesses. No matter what anyone says to him, he turns a deaf ear if it is not in line with his Marxist ideology.
The voters need to tank Obama and the democrats. And in this case, CEOs are starting to provide useful, meaningful information that the voters can digest and be able to connect dots.
They come after the educated independents first.
Only those who do not already have a cell phone will get one for free. Even those that don't want a cell phone (fear of brain cancer) will be forced to carry one.
The economy will crash real soon from the burden being put on it by a gaggle of fools who couldn’t run a lemonade stand. Adding new taxes on top of the expiring Bush tax cuts will put the final nail in the coffin. The depression might save us from these commie bastards.
Yeah, right......
Like the "ego maniac in chief" would listen........
Cloward-Piven Strategy comes to fruition. The dream and lifetime goal of of Obama, Pelosi,Reid and Clinton comes to reality
And soon they will be saying “Se Habla espanol” More of the few American Giants that will abandone the USA and it’s workers due to Governmental meddling and controls that make it impossible to operate a business in Obammy’s AmeriKa!
They’ve been giving away “free” cell phones and for a while now...
https://www.safelinkwireless.com/EnrollmentPublic/home.aspx
Pansies? If you think Obamacare is damaging to their business, just wait until they piss off the Obamacare mafia. They'll ram through a law that says that any company named after the larval stage of an insect must pay a 40% excise tax on their gross sales while their competitors stand behind Obama smiling as he signs the bill.
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