Caterpiller, John Deere, 3M, AK Steel, AT&T...

[Headless Thompson Gunner]

How much is the new health care bill going to cost businesses?  So far, the following companies have announced new charges appearing in their accounting statements to reflect the costs of Obamacare:

Caterpiller: $100 million

John Deere: $150 million

3M:  $85 million

AK Steel:  $31 million

AT&T:  $1 billion (!)

Valero Energy:  $15 million

Honeywell:  ~$35 million

I'm sure we'll hear from moar companies in the coming weeks...

[RevDisk]

UTC is gonna get nailed for at least half a billion, just from that $2k per employee tax.

[Bigjake]

Invacare has stated that if this passed, they would pull up stakes and move to Mexico, as they would no longer be profitable under Pbocare's taxes.

[Inor]

Hmmm, it might not be a bad idea to buy some "in the money" puts on these if I can find out which reporting period they are going to report the liability...  (Although looking at 3M, it looks like it might already be priced in?)  Something to ponder though.  

[MillCreek]

Are those charges for current and future retiree medical benefits?   Boy, other than some union people, I wonder who gets retiree medical benefits any more.

[Gowen]

Wow, that's money that they cannot/will not be used to hire new employees with, that could go into R&D, employee wages or stock dividends to investors.  This will mean higher priced products to you and I.  Lower wages to current employees or at the least a pay freeze.

Thank you obama.  Trickle down poverty.

[sanglant]

and more jobs moving away from free? states. well i guess THE obama really did help the poor,,,,,,,,,,, in mexico and china.

[Mabs2]

Heh.  I mentioned something like this to a buddy of mine yesterday.
I told him that the new bill will basically tax everybody.
His response was, "They only tax people who make a certain amount and you and I will never ever make that much."
Then I told him that if he thought we wouldn't be effected by our employers being taxed this much he was dumb.
His response to that was, "Pfft, yea, the only thing it'll do to them will make them maybe not break profit records every year."
I wasn't sure he was serious, until he told me to stop watching that Faux News BS.

[Perd Hapley]

"Pfft, yea, the only thing it'll do to them will make them maybe not break profit records every year."

Oh, Democrats.  They want prosperity, they just don't want anyone to be prosperous. 

[Mabs2]

Oh, Democrats.  They want prosperity, they just don't want anyone to be prosperous. 

Yea, he worked for Wal-Mart for a very long time.  He pretty much detests big businesses.

[HankB]

Boy, other than some union people, I wonder who gets retiree medical benefits any more. 

My mother gets medical benefits thanks to my late father's pension arrangements.

My current employer offers retiree medical benefits as part of the pension program, provided you retire before 2013; that was the arrangement when I was hired. Retire after that and retiree medical is sharply curtailed. (I can take an early retirement in 2012, but would get shafted on my pension - plenty of years of service, but I'm still too young. So I'm getting screwed either way.  )

[RoadKingLarry]

AT&T has already been cutting head count, both union and non union workers.
I expect it to continue. Being pretty low on the totem pole I'll be surprised if I don't get hit before the year is out.

[Jamisjockey]

Invacare has stated that if this passed, they would pull up stakes and move to Mexico, as they would no longer be profitable under Pebocare's taxes.

Enough of this PEBO crap.   

[mtnbkr]

AT&T has already been cutting head count, both union and non union workers.
I expect it to continue. Being pretty low on the totem pole I'll be surprised if I don't get hit before the year is out.

So was/is Verizon, which was one of the motivating factors in my leaving.  I wasn't under immediate threat, and with a clearance, was fairly valuable to them.  Still, I went looking and found a better job for more money, so it's all good.

Chris

[makattak]

http://online.wsj.com/article/SB10001424052748704100604575146002445136066.html

Oh, the Democrats are angry about this, too...

Meanwhile, Henry Waxman and House Democrats announced yesterday that they will haul these companies in for an April 21 hearing because their judgment "appears to conflict with independent analyses, which show that the new law will expand coverage and bring down costs."

So, these companies are REQUIRED by the SEC to disclose changes to their long term expenses or face criminal charges. But since it is politically inconvenient for the Democrats, they're going to bring them before congress to try to crucify them.

Hmm... I always wondered what the beginnings of a Latin-American thugocracy would feel like.

[Marnoot]

...or at the least a pay freeze.

My pay's already frozen, this just means it'll be frozen longer or frozen until my employer axes my division to cut costs in order to pay for the healthcare, melting my pay to zero.

[alex_trebek]

http://online.wsj.com/article/SB10001424052748704100604575146002445136066.html

Oh, the Democrats are angry about this, too...

So, these companies are REQUIRED by the SEC to disclose changes to their long term expenses or face criminal charges. But since it is politically inconvenient for the Democrats, they're going to bring them before congress to try to crucify them.

Hmm... I always wondered what the beginnings of a Latin-American thugocracy would feel like.

I feel warm and fuzzy, like the gentle glow of a ray of sunshine. Benovolency makes everyone feel like this.

Seriously though:

were these costs longterm (20 years) or per year for the forseeable future? I must have missed that part... 

[Bigjake]

Enough of this PEBO crap.   

He called the tune, I'm just mocking it.




Besides, I'm lacking a better term for this nonsense.  "Pelosi Care"  gives the harpy way too much credit,  It's Obama's baby.

[Waitone]

Why do you think Obama thought it necessary to hit the campaign trail to convince the subjects of the value of his health legislation.  He knew the charges were coming because company lobbyists said so.  All things considered it may be fortunate the impact was so soon; just to keep the taxpayer's interest from waning.

[sanglant]

there's always P.BO or about 15 names i ain't going to post. let's just say he would prefer P.BO.

[roo_ster]

President Elect Barack Obama = PEBO, PEBOcare

Problem being, he is no longer president elect, he is the actual, "took oath of office" POTUS.

IMO, BHO deserved ribbing for his "Office of the President Elect," but that time is past.

Now, PBOcare is accurate, as is BOcare.  CommieCare is nice & provocative. 

[Bigjake]

Now, PBOcare is accurate, as is BOcare.  CommieCare is nice & provocative. 

Those are pretty good substitutes.

  my original, offensive post has been modified 

[Ron]

Not to point out the obvious but we actually have a stickied thread at the top of this forum about using derisive nicknames ie. Nicknames... McStain, Hitlery, George W Fistful, etc....

[Bigjake]

Semantics.

I'm not comparing the guy to mass murderers or commie dictators (redundant)  I'm using the name that the arrogant wanker gave himself. 

[Monkeyleg]

So now we're calling the president a wanker? That's even more of an insult than the other names in this thread.