Companies already reporting potential profit loss due to Obamacare - DFWstangs Forums
 
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post #1 of 14 (permalink) Old 03-26-2010, 05:49 PM Thread Starter
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Companies already reporting potential profit loss due to Obamacare

The first two companies to officially announce potential losses stemming from ObamaCare are Iowa's Deere & Co. and Caterpillar from Peoria, Illinois. This is presumably the beginning of a long list of companies that are going to blame the new law for losses in future.

Caterpillar confirmed that it will bear amounts in tune of an estimated $100 million in increased costs for the year 2011. The same melody was sung by, John Deere on Thursday, when he too announced that his company will be shelling out $150 million additionally for 2010 due to the "overhauling" of America's health care and health insurance systems. Deere revealed that the $150 million sum that his company will incur will almost be an 11% pinch from its profits for this year. That is certainly going to hurt.

Deere and Caterpillar have already stated that the new retiree drug coverage tax as a part of the recently passed health reform bill would have a negative impact on both, retirees and companies, which to an extent, is not a wrong notion. Here's how they explain it.

Protesting the then-possibility of the proposed tax, Deere, Caterpillar, Verizon, among others wrote to Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi on December 11, 2009. An excerpt from the letter read, "The change would make the 28 percent subsidy taxable to employers, effectively reducing the value of the subsidy".

"Taxing the subsidy means that more companies will eliminate or reduce the coverage and more retirees will shift to Medicare Part D, which will create more cost for both the government and retirees", the letter said.

For a letter that is coming from the corporate companies, this does make sense, for a change. But, like everything, it has to have a catch somewhere. The catch in this is apparent. Losses to the companies. Simple enough!
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post #2 of 14 (permalink) Old 03-26-2010, 06:12 PM
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Well we all saw this coming. I really believe that it's Barry's intent to crush the economy of this country. Thereby crushing this country. I mean, he is communist after all. That's what they do. They kill business, so that they can control the business.

But you know, I think that this country will survive 'ol dog dick. It's the next time that the Commies win that worries me. I mean if we got barry, then who's next?

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post #3 of 14 (permalink) Old 03-26-2010, 06:29 PM
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AT&T said Friday that it is preparing for President Obama's health care overhaul to cost the telecommunications giant an additional $1 billion in expenses in the first quarter, possibly forcing the company to cut benefits it offers to current and retired workers.
http://www.foxnews.com/politics/2010...w-cut-profits/

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post #4 of 14 (permalink) Old 03-26-2010, 08:37 PM
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im sure this will help create some jobs! go obama you da man

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post #5 of 14 (permalink) Old 03-26-2010, 09:11 PM
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im sure this will help create some jobs! go obama you da man
It will, in India.

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post #6 of 14 (permalink) Old 03-26-2010, 10:31 PM
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30% unemployment.

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

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post #7 of 14 (permalink) Old 03-26-2010, 10:32 PM
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It will, in India.
Damn. You know I told my self that I'd never move there, and never have to work there. Now it looks like I have to.

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post #8 of 14 (permalink) Old 03-26-2010, 11:02 PM
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30% unemployment.
This.
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post #9 of 14 (permalink) Old 03-27-2010, 09:36 AM
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30% unemployment.

If we are lucky.

I said it before.

Small businesses will all but die.
Mid size businesses will move out of this country.

The large company's will just pass on the costs to us.

I work for a mid size company. We where officially informed 90% of the product we make will move to Mexico. We assume this is a lie, and it will all move south. They are just telling us 90% so some of us will stay to the end so they wont loose any production during the process.

Is it time yet?



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post #10 of 14 (permalink) Old 03-27-2010, 09:40 AM
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As depressing as this is (I work for ATT and my mom, dad and uncle are retiree's), it humerous too. I say that because I was at the Dr's office the other day and they had CNN going on in the waiting room and they were talking about if you had healthcare through work then nothing would change.
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post #11 of 14 (permalink) Old 03-27-2010, 09:46 AM
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Nothing will change?

I'll be out of a job.
You will be paying a lot more in taxes. How is this, "nothing will change"?



All men should know Honor first, above all else!

Honor is not holding your hand out for something you did not earn.
Honor is not forcing your ideas, or belief on others.
Honor is not something given to you by way of job, or title.

Honor is learned, earned, practiced and respected by all decent men and women.
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post #12 of 14 (permalink) Old 03-27-2010, 10:02 AM
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yeah according to CNN they broke it down and said it boils down to this. If you have health coverage through work then nothing changes, if you pay for yours and make less than $88k it will go down, more than $88k and it goes up.

I was giggling thinking to myself, if it was only that simple! These are the same sheep that believe the IRS wont punish people without coverage, they will just offer another deduction for those that choose to take the opportunity to get health coverage.
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post #13 of 14 (permalink) Old 03-27-2010, 10:34 AM
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my next door neighbor voted for obama and had his signs and shit all in his yard at election time. he just told me yesterday that his company just shut its doors. i asked how the "obamacare" would have effected it and he said that was the final piece that killed his company.

think he wished for a voting mulligan?

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post #14 of 14 (permalink) Old 03-27-2010, 12:27 PM
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I have a friend that also voted for Barry the Communist. However, he was one of the ignorant people who simply bought into the "Change" crap. I asked him if he liked his large gun collection, being free, not giving all his money away to someone else, etc etc etc. He of course, like any human being with some semblance of a brain, said yes. Then I told him that he was a republican, and if he valued those things to never ever vote democrat again.

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