Farm-equipment manufacturer John Deere "said it expects its expenses to rise by around $150 million on an after-tax basis, mainly in the second quarter, as a result of the legislation."
Verizon "told employees in an email Tuesday that Verizon's costs will go up in the near term, pinpointing a tax-subsidy reduction for retiree health benefits."
Heavy-equipment manufacturer Caterpillar "said that its first-quarter earnings will be hit with a $100 million after-tax charge under tax law changes attached to the new health care reform legislation."
AK Steele Holding Corp., "the third largest U.S. steelmaker by sales, said it will record a non-cash charge of about $31 million resulting from the health-care overhaul signed into law by President Barack Obama. The charge will be recorded in the first quarter of 2010."
Valero Energy "will take a $15 million to $20 million charge to second-quarter earnings for the same reason."
Medical-device maker Medtronic "warned that new taxes on its products could force it to lay off a thousand workers."
This deal sounds awesomer and awesomer as time goes on.....
More......
1 comment:
One point I think has been totally missed. That is that our system treats uninsured when they walk into the emergency rooms. And that, to cover that cost, the hospitals charge higher rates if you ARE insured.
So if "everyone" is going have insurance, because that's the law, shouldn't the ER subsidy go down. I would expect a wash. Higher premiums through higher taxes on plans. Lower premiums since ER sibsidies disappear. Somehow I bet the taxes will go up but the premium savings will never materialize.
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