Skip to comments.AT&T will take $1B non-cash charge for health care
Posted on 03/26/2010 12:06:00 PM PDT by mlocher
NEW YORK AT&T Inc. said Friday it will take a $1 billion non-cash charge in the first quarter related to the health care overhaul.
AT&T's charge is the largest announced so far. Earlier this week, AK Steel Corp., Caterpillar Inc., Deere & Co. and Valero Energy announced similar accounting charges, saying the health care law that President Barack Obama signed Tuesday will raise their expenses.
AT&T said the charge is to reflect the change of the tax treatment of Medicare subsidies. Companies say the health care overhaul will make a subsidy that companies receive for retiree drug coverage taxable in 2011.
(Excerpt) Read more at news.yahoo.com ...
Time for AT&T to start laying off Obama voters.
All of the fees and taxes “for” healthcare will go into the coffers right now to make it appear the debt recovery is on track and doing better for upcoming elections.... there won’t be anything there for the actual health care overhaul...
That money represents about 13,333 50K jobs. Nice going BO.
What happens when people start going to doctors office demanding their free health care?
There has GOT TO BE at least one case so far (democraps are pretty stupid)
AT&T is union , right? aren’t they all P-BO followers?
Boy will they ever get a surprise next week when the company tells them what gets cut.
My next door neighbor was so sure Obama was "The One". I'm going to heckle him~!
“AT&T Inc. said Friday it will take a $1 billion non-cash charge in the first quarter related to the health care overhaul.”
On one hand, I hope that charge taken in the 1st Qtr will cover them for the entire year. On the other hand, I hope it is JUST for one quarter. And that they will need another for the next qtr., etc. Maybe when folks quickly see the disaster this Nationalized Healthcare crap is they will help to oeverwhelmingly throw the commie rats out reject it.
And the hits just keep on coming...
I think he well may be "The One" - in a Damian kind of way.
Everything we buy will be more expensive from now on and watch these companies start moving employees to Costa Rica or wherever.
We should keep a running list of these companies:
AT&T Inc. - $1 BILLION
Caterpillar - $100 Million
Verizon - ??
AK Steel Corp — ??
Deere & Co. — ??
Valero Energy — ??
Man, that’ll represent a lot of jobs.
A foresee a whole lot of Hope and Change exemptions coming CWAs way.
Keep in mind, job loss is one of Soetero’s objectives.
So if all of these companies pass the tax increase cost directly to end users it will have a dramatic effect on their voting in November correct?
AT & T does contribute to both parties equally
I’m sure they have... “where’s my pie”
Add 3M to the list :
3M Co. said Friday that it expects to record a non-cash charge of $85 million to $90 million after tax, or about 12 cents a share, in the first quarter of 2010 as a result of the recently passed healthcare bill. The charge is due to a reduction in the value of the companys deferred tax asset from a change to the tax treatment of Medicare Part D reimbursements, it said.
This is an old thread of an even older booklet, written in 1938 about the New Deal, same as the Big F’n Deal. An Excerpt of the booklet:
... by suggestion that in the modern environment the individual, through no fault or weakness of hie own, had become helpless and was no longer able to cope with the adversities of circumstances.....
After the acts that were necessary to gain economic power the New Deal created no magnificent new agency that had not the effect of making people dependent upon the Federal government for security, income, livelihood, material satisfactions, or welfare. In this category, its principal works were these:
For the unemployed, to, any number, the WPA, making them directly dependent on the Federal government for jobs, besides that they were kept off the labor market; ......
For home owners in distress, the HOLC, making them dependent on the Federal government for temporary out-door employment, rehabilitation, and vocational training, besides that these too, were kept off the labor market;........
For those who live by wages and salaries the SSB, making them dependent on the Federal government for old-age pensions and unemployment insurance; also for stern protection against the consequences of their own personal thriftlessness, since half of what goes into the social security reserve fund is taken out of their pay envelopes by the government, whether they like it or not, the government saying to them, “We will save it for you until your winter comes.” And since there is no saying anything back to the government this becomes compulsory thrift.
No individual life escaped, unless it was that of a desert rat or cave dweller.
Soon AT&T will apply to the state public service commissions for a rate increase because their costs went up.... and they will get it.
I have never been a “heckler”. I hate it and have always thought it childish. There is a very real possibility that if I were in your shoes I'd heckle that guy. You know, a little...