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BOHICA Obama
Lower profits will translate into even less jobs with an already record unemployment rate.
AT&T to Book $1 Billion Cost on Health-Care Reform (Update2) - Bloomberg.com
AT&T to Book $1 Billion Cost on Health-Care Reform
By Ian King and Amy Thomson
March 26 (Bloomberg) -- AT&T Inc. will book $1 billion in first-quarter costs, the most of any U.S. company, related to the health-care law signed this week by President Barack Obama.
A change in the tax treatment of Medicare subsidies triggered the non-cash expense, Dallas-based AT&T said today in a regulatory filing.
AT&T, the biggest U.S. phone company, joins Caterpillar Inc., AK Steel Holding Corp. and 3M Co. in recording non-cash expenses against earnings as a result of the law. Health-care costs may shave as much as $14 billion from U.S. corporate profits, according to an estimate by benefits consulting firm Towers Watson. AT&T employed about 281,000 people as of the end of January.
Companies like AT&T, that have large employee bases, are going to have higher health-care costs and, therefore, lower earnings unless they can negotiate something or offer less to their employees, ............
AT&T to Book $1 Billion Cost on Health-Care Reform (Update2) - Bloomberg.com
AT&T to Book $1 Billion Cost on Health-Care Reform
By Ian King and Amy Thomson
March 26 (Bloomberg) -- AT&T Inc. will book $1 billion in first-quarter costs, the most of any U.S. company, related to the health-care law signed this week by President Barack Obama.
A change in the tax treatment of Medicare subsidies triggered the non-cash expense, Dallas-based AT&T said today in a regulatory filing.
AT&T, the biggest U.S. phone company, joins Caterpillar Inc., AK Steel Holding Corp. and 3M Co. in recording non-cash expenses against earnings as a result of the law. Health-care costs may shave as much as $14 billion from U.S. corporate profits, according to an estimate by benefits consulting firm Towers Watson. AT&T employed about 281,000 people as of the end of January.
Companies like AT&T, that have large employee bases, are going to have higher health-care costs and, therefore, lower earnings unless they can negotiate something or offer less to their employees, ............