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By Amy Thomson and Ian King

March 26 (Bloomberg) -- AT&T Inc. will book $1 billion in first-quarter costs related to the health-care law signed this week by President Barack Obama, the most of any U.S. company so far.

A change in the tax treatment of Medicare subsidies triggered the non-cash expense, and the company will consider changes to the benefits it offers current and retired workers, Dallas-based AT&T said today in a regulatory filing.

AT&T, the biggest U.S. phone company, joins Caterpillar Inc., AK Steel Holding Corp. and 3M Co. in recording non-cash expenses against earnings as a result of the law. Health-care costs may shave as much as $14 billion from U.S. corporate profits, according to an estimate by benefits consulting firm Towers Watson. AT&T employed about 281,000 people as of the end of January.

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Posted 27 March 2010 03:06 PM Hide Post
Yes, a great day. AT+T, Cat Corp, Verizon, and many large Corps just filed with their Unions etc a Cash cost to them in the Billions. Once again the Workers are robbed of cash from their own pockets that they got up at 5:30 every morning to go to work to feed their own family and now the non workers get free everything paid for by the Workers. Germany just told the lazy people of Greece to get up early and go to work and pay your debt. Lazy Greece is dragging down the Euro economy, When the government tells Doctors to see 30 people per day at a payment of $4.00 per person, they will quit. The paperwork per person will be impossible. The paperwork for the Doctor will be impossible. Already Walgreens will not fill government prescriptions because Obama pays $5.00 for a $30.00 prescription. So the Government gives your old mom and dad large amounts of the wrong medicine and kills them. Just like the free medical system did to my parents in CANADA. Sin tax, luxury tax, entertainment tax, all taxes in CANADA are horrendous. Yet there were no beds for my dying dad. Nine ambulances outside the hospital emergency room with dying patients in them for 72 hours at 30 below zero running, burning fuel to keep warm, because there are no beds because they are full and there is no money to repair, or build hospitals and the good Doctors moved to the States. Where are the American doctors going to move to. Germany? You can not make Doctors slaves of a Government and expect them to perform at the same level as a Doctor in the Free Enterprise System. I could go on for hours but Government run anything doesn't.

Posts: 6 | Registered: 26 March 2010

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