Monday, March 29, 2010

AT&T Plans to Book $1 Billion Cost for Health-Care Law

If true, I sure hope this is not a trend. "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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