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Obama Healthcare casues AT&T and four other US corporations to announce cuts in benefits. Is this the CHANGE you believe in?

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.

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grlygrlz2

Asked by grlygrlz2 at 5:45 PM on Mar. 26, 2010 in Politics & Current Events

Level 39 (106,530 Credits)
Answers (58)
  • 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.

    grlygrlz2

    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

    grlygrlz2

    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.

    grlygrlz2

    Answer by grlygrlz2 at 5:50 PM on Mar. 26, 2010

  • Thanks for that validation LOL I just posted a mention to that. It's just beginning. I wish these people would have been more forceful about what they would have to do before this passed
    itsmesteph11

    Answer by itsmesteph11 at 5:51 PM on Mar. 26, 2010

  • These are all very large companies, of course they're going to complain! They will ALWAYS complain if something effects their bottom line (think bonuses and such). What did you expect them to do, jump for joy because their executives might only get a $1.5 million bonus instead of $2 million?

    Personally, I'm not going to believe anything till I see it.
    Anouck

    Answer by Anouck at 5:51 PM on Mar. 26, 2010

  • Make that 6 total.. AK Steele just came in...
    grlygrlz2

    Answer by grlygrlz2 at 5:52 PM on Mar. 26, 2010

  • Business need to tighten their belts like the rest of us.
    Anonymous

    Answer by Anonymous at 5:52 PM on Mar. 26, 2010

  • **Businesses**
    Anonymous

    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

    grlygrlz2

    Answer by grlygrlz2 at 5:54 PM on Mar. 26, 2010

  • So people losing their jobs and having reduced benefits are ok with you, Anouck? How incredibly cold hearted.
    AngelDawn7

    Answer by AngelDawn7 at 5:55 PM on Mar. 26, 2010

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