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Little fascists like Waxman are throwing a little hissy fit, so they want to bring the full wrath of government down on these companies, to deter any other would be complainers from sending out a press releases that reveals the damage caused by 0bamaCare,
I know I disagreed with you in another thread today, but I can't really disagree with you on this one. There does not seem to be any room for differences of opinion where health care reform is concerned, and silencing differences of opinion is never a good idea. People are smart to this, and as I said in the other thread, the Democrats will probably pay for this at the polls in November.
The WSJ weekend edition covered this. It is apparently a "spanking" that is to be administered by Waxman to the CEOs for pointing out the problems to their companies with Obama care.
In the US, dissention is now strongly discouraged and one should shut up and accept what the Fuhrer says and does.
Correct me if I'm wrong, aren't publicly held companies required to notify shareholders etc. of anything negative that might affect their earnings? Isn't that what these companies are doing? So they obey the law and now they are going to get jumped? Sounds pretty backwards to me.
This unwillingness to accept any difference of opinion or "back talk" from private companies is not the way America is supposed to work. I'm not really all that politically savvy about too many issues, but this stuff just scares me. I hope our voices will be heard in November.
I wonder if Henry Waxman has Chavez asperations. You know, you say things critical of Chavez, you go to jail. In Waxman's case, you say things critical of a bill Waxman supported, you're being critical of Waxman so he'll pull together a committee (his favorite place to be, in front of tv cameras) and call you to testify before congress though you've committed no crime to warrant testifying before congress. If anything, members of Congress should be called to testify before the people they claim to represent.
The new law is designed to expand coverage and bring down costs, so your assertions are a matter of concern. They also appear to conflict with independent analyses. The Congressional Budget Office has reported that companies that insure more than 50 employees would see a decrease of up to 3% in average premium costs per person by 2016. The Business Roundtable, an association of chief executive officers from leading U.S. companies, asserted in November 2009 that health care reform could reduce predicted health insurance cost trends for businesses by more than $3,000 per employee over the next ten years.
Basically, Congress is saying, you've said this is going to cost you lots of money, now prove it. And they're right to do so, in light of the reports noted in the letter.
Correct me if I'm wrong, aren't publicly held companies required to notify shareholders etc. of anything negative that might affect their earnings? Isn't that what these companies are doing? So they obey the law and now they are going to get jumped? Sounds pretty backwards to me.
That is what the WSJ journal said.
They are REQUIRED to report this information before the end of the quarter, which is tommorrow.
The outrage is on the part of the Congressmen and Obama, who were made to look like fools by the companies simply reporting the financial damage to shareholders, as required by law. But then again, this is not the old America, therefore the laws that may expose Barry's mistakes are probably null and void, until, of course, it suits thier purposes for them to be intact.
Today, Neil Cavuto.....Waxman, Stupak calling for heads of ATT, Deere, Caterpillar to testify about their recent statements claiming they'll take financial hits from healthcare reform. They've been asked to supply emails and other supporting documents.
Those asking for the material should politely be told to go to hell.
They are REQUIRED to report this information before the end of the quarter, which is tommorrow.
They are not required to disclose it at all unless the non-cash charge to reduce the value of an asset they have booked for the present value of future tax-related receivables is significant. If they do decide to disclose it, it must be in the earnings statement for the same quarter in which recognition of the change in asset valuation took place. There is no requirement that first quarter earnings statements be issued before the end of the quarter.
Quote:
Originally Posted by hawkeye2009
The outrage is on the part of the Congressmen and Obama, who were made to look like fools by the companies simply reporting the financial damage to shareholders, as required by law. But then again, this is not the old America, therefore the laws that may expose Barry's mistakes are probably null and void, until, of course, it suits thier purposes for them to be intact.
Those who look the most like fools are those who know nothing about this situation yet yammer on and on as if they did. The alleged financial damage to affected companies is -- once again -- trivial. Congress and the administration were perfectly well aware of the effect of the language they wrote and passed and of the accounting necessity to disclose resulting non-cash charges to the extent that these were significant. What's at question is the math that some companies have used to calculate the charges. That has not been disclosed.
123 Billion Consolidated Revenue
12 Billion Net Income
9.7 Billion paid to stockholders
34 Billion Cash from Operating Revenue
They've reduced from 304000 employees to 283000 over the last 4 years
The also claim that for 26 consecutive years, increases to it is quarterly dividends........including 20% in the past three years.
Hey, they only spent 9 million on lobbyists, last year - and fly former CEO Ed Whitacre to his Detroit job with GM on a regular basis (many times a week).
123 Billion Consolidated Revenue
12 Billion Net Income
9.7 Billion paid to stockholders
34 Billion Cash from Operating Revenue
They've reduced from 304000 employees to 283000 over the last 4 years
The also claim that for 26 consecutive years, increases to it is quarterly dividends........including 20% in the past three years.
Hey, they only spent 9 million on lobbyists, last year - and fly former CEO Ed Whitacre to his Detroit job with GM on a regular basis (many times a week).
No tears from me.
You don't seem to understand is that AT&T is more than rich people in suits. They have a bunch of regular people supporting their families. There are probably people who have retired from the company who now get health benefits that will no longer receive them after the fees begin to take effect.
No tears from me either - just an intense stare.
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