Donks intimidate CEO's over heal care debacle...

[BDKJMU]

That is true but that doesn't necessarily mean AT&T is providing the same benefits to all of its retirees that CAT is providing.

All of these charges could very well be legit. But they could just as easily be BS too. They should be able to substantiate them with no problem.

AT&T and CAT are only two of the companies reporting these projected losses. This Congressional subpoena also includes Verizon, 3M, John Deere, Valero, and AK Steel so far. If all these companies (and many many more) are reporting the same type of numbers, its a pretty good bet that these projections are legit.

Considering the average CEO of a big multinational corporation is about 10X smarter than an average Congressperson, Waxman has probably bit off more than he could ever chew.

AT&T is claiming a billion. Verizon came out yesterday claiming close to a billion.

"....Craig Mathias, founder of wireless consultant Farpoint Group, said consumer prices for communications services may climb in about a year as the economy recovers.

“The money is going to come from somewhere,” Mathias said. “Guess where it’s going to come from? Us customers.”
http://www.bloomberg.com/apps/news?pid= ... OdGHWujF9I" onclick="window.open(this.href);return false;

[native]

AT&T and CAT are only two of the companies reporting these projected losses. This Congressional subpoena also includes Verizon, 3M, John Deere, Valero, and AK Steel so far. If all these companies (and many many more) are reporting the same type of numbers, its a pretty good bet that these projections are legit.

Considering the average CEO of a big multinational corporation is about 10X smarter than an average Congressperson, Waxman has probably bit off more than he could ever chew.

AT&T is claiming a billion. Verizon came out yesterday claiming close to a billion.

"....Craig Mathias, founder of wireless consultant Farpoint Group, said consumer prices for communications services may climb in about a year as the economy recovers.

“The money is going to come from somewhere,” Mathias said. “Guess where it’s going to come from? Us customers.”
http://www.bloomberg.com/apps/news?pid= ... OdGHWujF9I" onclick="window.open(this.href);return false;

Why the hell is this a surprise to Obama and the 85% of the demokrats who voted for this abortion?

[FargoBison]

Hearings canceled...

House Democrats abruptly canceled hearings into major US companies' responses to their massive health care overhaul after receiving documents revealing that companies were considering dropping all of their employees' health benefits in response to the healthcare bill.



Documents obtained by Fortune and published on CNN show that AT&T and other major companies -- including Verizon, Deere and Caterpillar -- considered eliminating their employee benefits program and simply paying a fine to the government for those they employed without insurance. The fine for AT&T would have amounted to $2,000 per employee, costing the company a grand total of $600 million a year. Maintaining benefits, meanwhile, will cost the firm some $4.6 billion.

Democrats requested documents from the four companies after they announced they were taking massive write-downs to earnings as a result of costs incurred by the bill. Liberals said the huge firms were overstating costs as a result of the bill, presumably to make it look bad.

After receiving documents from the companies, however, Democrats issued a brief memo the write-downs were "proper and in accordance with SEC rules."

http://rawstory.com/rs/2010/0506/att-ve ... employees/" onclick="window.open(this.href);return false;

[danefan]

Sounds good to me. They showed their work papers and all is better. Well at least its within the regs. Now...about those regs...

[AZGrizFan]

AT&T is claiming a billion. Verizon came out yesterday claiming close to a billion.

"....Craig Mathias, founder of wireless consultant Farpoint Group, said consumer prices for communications services may climb in about a year as the economy recovers.

“The money is going to come from somewhere,” Mathias said. “Guess where it’s going to come from? Us customers.”
http://www.bloomberg.com/apps/news?pid= ... OdGHWujF9I" onclick="window.open(this.href);return false;

Why the hell is this a surprise to Obama and the 85% of the demokrats who voted for this abortion?

Because they live in that little bubble they filmed "The Truman Show" in....

[Baldy]

Hearings canceled...

House Democrats abruptly canceled hearings into major US companies' responses to their massive health care overhaul after receiving documents revealing that companies were considering dropping all of their employees' health benefits in response to the healthcare bill.



Documents obtained by Fortune and published on CNN show that AT&T and other major companies -- including Verizon, Deere and Caterpillar -- considered eliminating their employee benefits program and simply paying a fine to the government for those they employed without insurance. The fine for AT&T would have amounted to $2,000 per employee, costing the company a grand total of $600 million a year. Maintaining benefits, meanwhile, will cost the firm some $4.6 billion.

Democrats requested documents from the four companies after they announced they were taking massive write-downs to earnings as a result of costs incurred by the bill. Liberals said the huge firms were overstating costs as a result of the bill, presumably to make it look bad.

After receiving documents from the companies, however, Democrats issued a brief memo the write-downs were "proper and in accordance with SEC rules."

http://rawstory.com/rs/2010/0506/att-ve ... employees/" onclick="window.open(this.href);return false;

Shame...and I was looking forward to seeing Waxman get his ass handed to him from one of the CEO's.
Maybe next time.

[Chizzang]

Do I hear the bell toll...
How long before the whole bill is simply "voided" and tossed in the dumpster

the good news is (hopefully) something was learned that can be applied to a future bill the actually address the problems associated with our present Health Care system

We'll see I guess....

[houndawg]

Do I hear the bell toll...
How long before the whole bill is simply "voided" and tossed in the dumpster

the good news is (hopefully) something was learned that can be applied to a future bill the actually address the problems associated with our present Health Care system

We'll see I guess....

Not a chance when corporations can make unlimited campaign contributions. The game is over. It's now officially not our government and all debate is merely academic.



What those CEOs need is a good old-fashioned kneecapping, Baader-Meinhoff style.

[AZGrizFan]

Do I hear the bell toll...
How long before the whole bill is simply "voided" and tossed in the dumpster

the good news is (hopefully) something was learned that can be applied to a future bill the actually address the problems associated with our present Health Care system

We'll see I guess....

Not a chance when corporations can make unlimited campaign contributions. The game is over. It's now officially not our government and all debate is merely academic.



What those CEOs need is a good old-fashioned kneecapping, Baader-Meinhoff style.

You're absolutely right. Those damned CEO's should just PAY the $4.8 billion and FUCK THE STOCKHOLDERS, right?

I mean, what's $4.2 billion among friends?

At my firm, we have 60 employees. I could either pay the $120,000 fine, or keep the coverage that we have at a cost of $816,000 last year. Hmmmmm......