Here’s the latest, from AT&T. Bet this will encourage them to hire a lot more people:
AT&T Inc. said it plans to take a non-cash charge of about $1 billion in the first quarter following the passage of the health-care reform bill earlier this week, according to a filing submitted by the company Friday. The telecommunication giant will also evaluate changes to its health care benefits for employees and retirees.
But don’t forget — if you like your plan, you can keep it! As long as the ObamaCare hasn’t wiped it out, of course…
And of course, we can at least count on new jobs for IRS agents.
Can a rate increase at renewal be far behind?
Well like Nancy Pelosi said, “We won’t know whats in the bill until we pass it.”
Well, its looking like a giant crap sandwich with a few peanuts and a couple kernels of corn that managed to make its way through Congressional crapper. But you’re a racist if you don’t like that crap sandwich being crammed down your throat. Bon appetite!
TARP money will rescue the too-big-to-fail companies. Everyone else will need to show more respect for Uncle Sugar, if they want to stay employed.
Can you say ‘outsourcing’ boys and girls?
Just when outsourcing was starting to wane, Obama resuscitates it!
Good job BO!
Oddly enough, a lot of people were predicting before it passed that it would turn out to be a crap sandwich. Who knew we were all psychic? I mean, aside from us psychics of course.
But what about all the commenters who insisted they knew what was in the bill even as the Shrieker of the House was telling us they had to pass the bill to find out what was in it?
Where’s Jim on these? I want to see him demonstrate how he knows AT&T’s finances better than they do.
Jim is busy trying to find the obvious connection of this stuff to George Bush.
As an employee of AT&T for the last four years who spent most of that time technically as a contractor, I can say that there has been intense downward pressure on headcount in the company even before this recent business came along. Two years ago the (legally-mandated) end of my contract was coming up, and in spite of superior performance and the desperate efforts of managers all the way up the chain, it was like pulling teeth to get the company to add that one additional headcount (me).
I’m the first new employee in my entire department in the last four years, maybe even longer. Right now, my department is maybe 50% to 75% of the size it was when I first started, and several people will be leaving soon. I don’t even know if they’ll be replaced by contractors this time around–and again, this is all before Obamacare.
Now that this is passed, and AT&T has announced the largest losses of any corporation so far, I can pretty much guarantee I’m not going to be seeing any new faces in the office for a long time.
I liked the way this “charge” increased the share price. One might suspect that taking a one off hit to cover a change in tax free deductions might have more to do with how they plan to calculate their tax liability fr the year than an actual impact from the legislation.
Of course facts and rhetoric don’t always mix around here.
Keep up the good work btw. It hasn’t been this much fun to read you guys since Obama won.
Yes Daveon, i’m sure the tax calculation has NOTHING to do with Obamacare. Just a case of bad timing.