AT&T's charge appeared to be the largest in a series of charges announced by U.S. companies this week. As a result of the legislation, the company, which ended 2009 with 282,000 employees, said it will be evaluating prospective changes to the health care benefits it offers to employees at retirees.
According to reports, Verizon Communications (VZ.N), the second biggest U.S. phone company, told employees that tax burdens under the new law would likely filter down to employees.
Other companies that announced health care reform related charges include Deere (DE.N), a maker of farm equipment, which sees a $150 million charge for its current quarter, and Caterpillar (CAT.N), which warned of a $100 million charge.
Answer by grlygrlz2 at 5:46 PM on Mar. 26, 2010
Shares of Valero Energy (NYSE:VLO) are trading 2.2% lower to $19.42 Friday after the largest independent U.S. refiner said it expected to take a first-quarter charge of $15 million to $20 million due to the tax impact of a new healthcare law
Answer by grlygrlz2 at 5:48 PM on Mar. 26, 2010
AK Steel 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. Costs that will be passed on to employees benefits.
Answer by grlygrlz2 at 5:50 PM on Mar. 26, 2010
Answer by itsmesteph11 at 5:51 PM on Mar. 26, 2010
Answer by Anouck at 5:51 PM on Mar. 26, 2010
Answer by grlygrlz2 at 5:52 PM on Mar. 26, 2010
Answer by Anonymous at 5:52 PM on Mar. 26, 2010
Answer by Anonymous at 5:53 PM on Mar. 26, 2010
Personally, I'm not going to believe anything till I see it.
Anouck you believed in the HC bill before seeing it all.. Hrmmmmmmm
Answer by grlygrlz2 at 5:54 PM on Mar. 26, 2010
Answer by AngelDawn7 at 5:55 PM on Mar. 26, 2010