SEARCH BLOG: HEALTH CARE
These CEOs would send their Chief Financial Officers to explain it to the deadheads, but it would just be a waste of effort.
AT&T, Deere CEOs Called by Waxman to Back Up Health-Bill CostsCome on you Dumbocrats. You got your legislation passed. So what's your big problem? Afraid the fiscal truth is coming out sooner than the Fall elections?
March 27, 2010, 7:28 PM EDT
By Viola Gienger
March 27 (Bloomberg) -- Representative Henry Waxman called the chief executive officers of AT&T Inc., Verizon Communications Inc., Caterpillar Inc. and Deere & Co. to provide evidence to support costs the companies plan to book related to the new health-care law.
Waxman of California, chairman of the House Energy and Commerce Committee, and subcommittee Chairman Bart Stupak of Michigan released letters they wrote to the executives, saying their plans to record expenses against earnings as a result of the law contradict other estimates. The lawmakers requested the executives appear at hearing Stupak plans on April 21.
Businesses have to use generally accepted accounting rules in their accounting and earnings reporting. When a corporation fails to let stockholders know that there is a high risk to earnings... to disclose pertinent facts... the stockholders raise holy hell. The CEOs have more to fear from their stockholders and the SEC than the mental lightweights in Congress.
Tell Rep. Stupak that you will consider showing up next February... if there is still a Representative Stupak in Congress. I'd make the odds for that pretty small.Oh, those jobs that are supposed to come as a result of the new health care legislation? Don't look for them in the corporate world. The money for those jobs just went into paying more taxes.