Skip to comments.AT&T will take $1B non-cash charge for health care
Posted on 03/26/2010 12:57:05 PM PDT by TexasNative2000
AT&T Inc. will take a $1 billion non-cash charge in the first quarter because of the health care overhaul and may cut benefits it offers to current and retired workers.
The charge is the largest disclosed 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
(Excerpt) Read more at news.yahoo.com ...
Unemployment at 12% in two months as the left maliciously and systematically crushes democracy and the economy.
Don’t worry, this bill will create over 400k jobs instantly./s
Make that 17,800 IRS jobs.
I guess the 3000% reduction in premiums included the total reduction in pay as a result of being unemployed.
I believed that the market already discounted the values when Obama looked like a sure bet. Hopefully, the market can move forward with less uncertainty.
This is breathtaking.
Who needs to invest in R&D when you can pay taxes instead?
Oh, this is looking real good.
ObamaControl is more like it.
Perfect! Consider that stolen! ;^)
...and may cut benefits it offers to current and retired workers.
Republicans, if you don’t make it clear to retirees/seniors that
Obama/Reid/Pelosi have firmly gripped “the third rail”,
you deserve to evaporate as a political party.
Both my husband and I work for AT&T, are shareholders, and are approaching retirement. This ‘reform’ bill pulls the rug out from under all of us. It’s disgusting.
that's the problem, less profit = less tax, well done libs!
So...here comes the public option as the ONLY option.
Will that figure- roughly $1B- be ongoing or is this a one time hit?
Obama has reached out and put the touch on us.
Yes, and their retirees are going to be bounced OUT of the drug plan and dumped on medicare as Caterpillar, Verizon, and thousands of other companies with retirement programs that cover prescription drugs are going to do.
The law of unintended consequences strickes Obama.
Yep; we could see this coming. Heck, my health insurance carrier raised premiums some months ago in anticipation of ObamaCare. You know that other insurance companies will follow suit. And many other employers, facing spiraling costs, will have to do something to make up for the shortfall they will experience. Benefit cuts, high prices for goods and services, cutting jobs — all on the horizon as a result of this monstrosity.
Where the hell were these stories, which was entirely predictable, in the MSM before this monstrosity passed. NOW THEY TELL US!
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