Judge narrows SEC lawsuit against ex-Qwest executives

AT&T will take $1B non-cash charge for health care
http://news.yahoo.com/s/ap/20100326/ap_on_hi_...
NEW YORK – AT&T Inc. said Friday it will take a $1 billion non-cash charge in the first quarter related to the health care overhaul.

AT&T's charge is the largest announced so far. Earlier this week, AK Steel Corp., Caterpillar Inc., Deere & Co. and Valero Energy announced similar accounting charges, saying the health care law that President Barack Obama signed Tuesday will raise their expenses.

AT&T said the charge is to reflect the change of the tax treatment of Medicare subsidies. Companies say the health care overhaul will make a subsidy that companies receive for retiree drug coverage taxable in 2011.

(Excerpt)

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AT&T Plans $1 Billion Charge Tied to Health Benefits

http://online.wsj.com/article/SB1000142405274...



That's a heck-of-a lot a jobs that won't get created.

That money represents about 13,333 $50K jobs. Nice going P- BO.

Everything we buy will be more expensive from now on and watch these companies start moving employees to Costa Rica or wherever...

keep a running list of these companies:
AT&T Inc.-$1 BILLION
Caterpillar -$100 Million
Verizon -??
AK Steel Corp —??
Deere & Co.—??
Valero Energy —??

Evil Joey Nachos deserves every minute of time he spends in jail, the cur.

and I would hope the resentencing nets him 34 years, not 6.

UNBELIEVEABLE! This is why people can not trust our government or business leaders.

Fact: Nachio and his management team lied about earnings.
Fact: He rec'd 6 years because he was a thief.
Fact: His actions caused immeasurable harm to employees, customers and the industry as a whole, all for his own personal gain.

I am very much a conservative and pro-business. But this kind of news does nothing but fan the flames of class envy. Who can blame them? Once again there seems to be another set of rules for the so-called rich piglet at the trough.

It appears that ethics is the rarest of commodities in businesses like Qwest, in political offices such as the SEC and especially our Judicial system.