RED ALERT: Pelosi Refused to Listen to California Employer on the Impact of Obamacare

Freight Company Feels the Immediate Effects of Obamacare

“The new law would require companies to ‘immediately account for the present value of this tax increase,’ cutting earnings, Caterpillar’s Burritt and CFOs of nine other companies including Boeing Co., Verizon Communications Inc. and freight hauler Con-Way Inc. told U.S. Speaker of House Nancy Pelosi and Senate Majority Leader Harry Reid in their December letter.”

“‘We weren’t successful,’ Randal Mullett, San Mateo, California-based Con-Way’s vice president of government relations, said in an interview about the letter signed by CFO Stephen Bruffett. ‘This is one of the things in the health-care bill that takes place very quickly.’”

(Edmond Lococo, Ryan Donmoyer and Pat Wechsler, “Obama Tax’s $14 Billion Charge Starts at Caterpillar,” Bloomberg, 3/25/10)

By Code Red