Friday, March 26, 2010

Healthcare hurts

From here.
AT&T Inc. announced today that it will take a $1 billion non-cash accounting charge in the first quarter because of the health care overhaul and may cut benefits it offers to current and retired workers.

The charge is the largest disclosed so far. Earlier this week, AK Steel Corp., Caterpillar Inc., Deere & Co. and Valero Energy announced similar accounting charges, saying the health care law that President Barack Obama signed Tuesday will raise their expenses.


AT&T also said Friday that it is looking into changing the health care benefits it offers because of the new law. Analysts say retirees could lose the prescription drug coverage provided by their former employers as a result of the overhaul.

Read it all.

And this is only the beginning. Are we loving that change yet?


1 comment:

Kate said...

And you don't think that there just might have been a little bit of politics involved in that statement? Why assume that they are telling the truth?