Home > News > And Even More Employers Forced To Cut Benefits And Jobs…

And Even More Employers Forced To Cut Benefits And Jobs…

Oh, yeah.  2010 elections will be a bloodbath for Dems.

They must have left out the word "Destroy."

As noted in several places, the new health-care bill has already made the cost of employees more expensive and taken away capital that could otherwise have been used to hire workers.

Farm-equipment manufacturer John Deere "said it expects its expenses to rise by around $150 million on an after-tax basis, mainly in the second quarter, as a result of the legislation."

Verizon "told employees in an email Tuesday that Verizon’s costs will go up in the near term, pinpointing a tax-subsidy reduction for retiree health benefits."

Heavy-equipment manufacturer Caterpillar "said that its first-quarter earnings will be hit with a $100 million after-tax charge under tax law changes attached to the new health care reform legislation."

AK Steele Holding Corp., "the third largest U.S. steelmaker by sales, said it will record a non-cash charge of about $31 million resulting from the health-care overhaul signed into law by President Barack Obama. The charge will be recorded in the first quarter of 2010."

Valero Energy "will take a $15 million to $20 million charge to second-quarter earnings for the same reason."

Medical-device maker Medtronic "warned that new taxes on its products could force it to lay off a thousand workers."

Moonbattery: When They said HCR Was a Jobs Bill…

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: