The HCR Ponies come home to roost.

[lastparker]

ELEVEN, count them, ELEVEN posts until one of the little morons gets it.....

Omaha Steve  (1000+ posts)        Fri Mar-26-10 05:24 PM
Original message
AT&T will take $1B non-cash charge for health care
 Source: AP

By BARBARA ORTUTAY

NEW YORK (AP) - AT&T Inc. will take a $1 billion non-cash accounting 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. On Friday, 3M Co. said it will also take a charge of $85 million to $90 million.

All five are smaller than AT&T, and their combined charges are less than half of the $1 billion that AT&T is planning. The $1 billion is a third of AT&T's most recent quarterly profit. In the fourth quarter of 2009, the company earned $3 billion on revenue of $30.9 billion.

AT&T said Friday that the charge reflects changes to how Medicare subsidies are taxed. Companies say the health care overhaul will require them to start paying taxes next year on a subsidy they receive for retiree drug coverage.


Read more: http://apnews.excite.com/article/20100326/D9EMHME00.htm...

 

next come nine boring posts rejoicing over this imagined hit to big business.... then the light bulb goes on:

crazylikafox  (936 posts)      Fri Mar-26-10 07:02 PM
Response to Reply #9
11. Unfortunately, they'll cut their employee benefits instead, and blame it on Obama
 Then the PUBS will say they were right, Obama messed with your Employer Health Care.

F**k

Nikki Stone1  (1000+ posts)     Fri Mar-26-10 08:48 PM
Response to Original message
15. The race the bronze is starting.
 "If you like your insurance you can keep it" was always contingent on the companies' desire to keep supplying it.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x4321894

ETA:  This whole exchange reminds me of the scene in Hunt For the Red October when the Russians realize they just maneuvered their sub to be hit by their own missile.   

[Carl]

Unlike the DUmmies this is something we all knew would happen and are not a bit surprised.
The only guessed at law of unintended consequenses fallout is yet to begin.

[jinxmchue]

Unlike the DUmmies this is something we all knew would happen and are not a bit surprised.
The only guessed at law of unintended consequenses fallout is yet to begin.

I really have my doubts that the consequences were unintended in this case.  Obama and the Democrats aren't that stupid.

[Texacon]

I really have my doubts that the consequences were unintended in this case.  Obama and the Democrats aren't that stupid.

Ahhhh but their followers are!

Wait until the renters at the DUmp start getting their letters from the landlord.  Wailing and gnashing of teeth will start THEN they will start trying to spin it.

KC

[BlueStateSaint]

Ahhhh but their followers are!

Wait until the renters at the DUmp start getting their letters from the landlord.  Wailing and gnashing of teeth will start THEN they will start trying to spin it.

KC

And that, my friends, is what is called a "catastrophic kill."

[crockspot]

Wait until they find out about the little known long term care program they slipped into the bill that will deduct 240 bucks a month from their paychecks... well, at least the ones who work.

http://www.foxnews.com/politics/2010/03/26/little-known-long-termhealth-care-provision-budget-buster-say-critics/

[jukin]

Wait until they find out about the little known long term care program they slipped into the bill that will deduct 240 bucks a month from their paychecks... well, at least the ones who work.

http://www.foxnews.com/politics/2010/03/26/little-known-long-termhealth-care-provision-budget-buster-say-critics/

Three guesses (& the first two do not count) on what favorite union of Obama's will be in charge of the program.

[Duke Nukum]

I really have my doubts that the consequences were unintended in this case.  Obama and the Democrats aren't that stupid.

Obama coming out the day after signing the bill and saying, "The sky isn't falling" just shows how much contempt he has for both his own followers and the American public and how little he values our intelligence.

[BEG]

Wait until they find out about the little known long term care program they slipped into the bill that will deduct 240 bucks a month from their paychecks... well, at least the ones who work.

http://www.foxnews.com/politics/2010/03/26/little-known-long-termhealth-care-provision-budget-buster-say-critics/

I heard about that yesterday or the day before.  For the DU'ers reading this thread, you have to OPT OUT because you are automatically enrolled in it.  Change you can believe in.......

[Tucker]

golfguru  (346 posts)      Fri Mar-26-10 09:09 PM
Response to Original message
16. That means $350 Billion less in tax paid by AT&T 
 based on 35% tax bracket

Stupid is strong with this one.

[Freeper]

Wait until they find out about the little known long term care program they slipped into the bill that will deduct 240 bucks a month from their paychecks... well, at least the ones who work.

http://www.foxnews.com/politics/2010/03/26/little-known-long-termhealth-care-provision-budget-buster-say-critics/

For now at least you can opt out. Wonder if will be mandatory too soon.

[The Village Idiot]

For now at least you can opt out. Wonder if will be mandatory too soon.

Of course it will be mandatory soon if the libtards get their way.

[Texacon]

Wait until they find out about the little known long term care program they slipped into the bill that will deduct 240 bucks a month from their paychecks... well, at least the ones who work.

http://www.foxnews.com/politics/2010/03/26/little-known-long-termhealth-care-provision-budget-buster-say-critics/

Oh my Lord!!  What a horrible thing!  If you put in the maximum of $240/month x 60 months (five years) = $14,400.00 and you're vested.

You will be able to draw $75.00/DAY after you are vested .... let's see ... You will burn through your 'investment' in 192 days (6 months and 12 days) then you will be living on OTHER PEOPLE'S MONEY!  This is a liberal wet dream!!

KC

[The Village Idiot]

Oh my Lord!!  What a horrible thing!  If you put in the maximum of $240/month x 60 months (five years) = $14,400.00 and you're vested.

You will be able to draw $75.00/DAY after you are vested .... let's see ... You will burn through your 'investment' in 192 days (6 months and 12 days) then you will be living on OTHER PEOPLE'S MONEY!  This is a liberal wet dream!!

KC

Another super duper entitlement

[Texacon]

Another super duper entitlement

No shit.  How can they spend the money .... let me count the ways.  Screw it.  I don't have enough time in a day to make that list.

KC

[NHSparky]

And the really sad part is, there are plenty of places out there that sell LTC "insurance"...