Skip to comments.AT&T, Deere CEOs Called by Waxman to Back Up Health-Bill Costs (Rats don't like the consequences)
Posted on 03/28/2010 4:28:51 AM PDT by tobyhill
Representative Henry Waxman called the chief executive officers of AT&T Inc., Verizon Communications Inc., Caterpillar Inc. and Deere & Co. to provide evidence to support costs the companies plan to book related to the new health-care law.
Waxman of California, chairman of the House Energy and Commerce Committee, and subcommittee Chairman Bart Stupak of Michigan released letters they wrote to the executives, saying their plans to record expenses against earnings as a result of the law contradict other estimates. The lawmakers requested the executives appear at hearing Stupak plans on April 21.
The new law is designed to expand coverage and bring down costs, so your assertions are a matter of concern, Waxman and Stupak, both Democrats, wrote in the letters yesterday. They also appear to conflict with independent analyses.
AT&T, the biggest U.S. phone company, is among employers that have announced plans to book costs related to the health- care law signed this week by President Barack Obama. The 10- year, $940-billion legislation is intended to cover 32 million uninsured Americans and provide benefits such as restricting premiums and ending the practice of denying coverage for pre- existing conditions.
(Excerpt) Read more at businessweek.com ...
Tell the criminals to pack sand.
OK, boys and girls, this is the way it’s going to be. Not only are you going to take your medicine, you’re going to LIKE it.
Waxman and Stupid Stupak just contradicted Obama’s claim that premiums for companies will decrease between 15% and 20%.
Next up, “premiums would have increased more if we hadn't acted”.
This is gonna be popcorn time, I’m thinking.
I heard earlier today that about 3500 companies participate in this program. And if publicly traded, they ALL have to report these losses within the quarter they are announced. Which is the first quarter of 2010. That is the law.
The deadline of which is Wednesday this upcoming week.
The Pig Man is trying to intimidate these companies.
Not only do Americans get screwed by this health bill we have to have people like the Pig Man Waxman harass them.
More discussion here. Good explanation at post #34. http://www.freerepublic.com/focus/f-news/2481533/posts
Of course we must trot out DemonRAT lapdog GE to say “we don't expect to have higher costs this year”.
Who to believe....?
Hey Nostrilus, can we give them a Show Trial like you love to put on for the media? Somehow, I’ll bet he doesn’t want cameras around when these guys start quoting figures.
No Charge at GE
General Electric Co., the worlds biggest maker of jet engines, power-plant turbines and locomotives, said today it doesnt anticipate taking a charge tied to the health-care law.
GE, of Fairfield, Connecticut, doesnt see any material effect from the law, spokeswoman Anne Eisele said today.
I also think that it should have a big ole'
ATT is required by law to tell their shareholders the truth. Waxman and the rest of his lying politician cronies are under no such constraint.
Yeah. No doubt. This is most extremely interesting in how its going to play out.
You don’t think it’ll amount to telling truth to power do you?
The fact is, the more “victories” the Democrats accumulate, the more they “own”.
Waxman and Stupak. Thank you, Dems, for providing two such excellent examples of your intellectual prowess. “Holy crap,” as Frank Barone would say.
Let's see if I got Waxman's rant about right.
Guess certain members of Congress won’t have much of a recess. They will be too busy threatening CEOs (and news media) between now and Tuesday.
Most of the media simply won’t report the losses.
3 Percent? That's 3 orders of magnitude below the savings of 3000% as claimed by our dear leader.
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.