In the ultimate showing of double standards. . . Obama now wants to drill to buy votes in November and it is a good thing. . .. was not so good when Bush wanted to do it. . . .
Sometimes they just don't care if they show you how much they are in the bag for Obama still. . . .
Wednesday, March 31, 2010
Saturday, March 27, 2010
Healthcare Impact from a friends blog
I got this off a friends blog links. . . well worth the read
Consequences Of Health Care: Valuations
Mar 26, 2010 2:59 PM - Show original item
via Sepideh's shared items
Yeah, I know, Obama has said that there would be no "material" impact to finances until 2014.
Liar.
Truth: Caterpillar and John Deere already announced non-cash charges of $100 and $150 billion, respectively, for this year based upon the impact of this bill on forward retiree health care costs.
The law saws you must account for such changes when you become aware of them, and that would be now.
But today a 100-kiloton device landed on AT&T's (NYSE: T) balance sheet - they announced a one billion dollar non-cash charge:
On March 23, 2010, the President signed into law comprehensive health care reform legislation under the Patient Protection and Affordable Care Act (HR 3590). Included among the major provisions of the law is a change in the tax treatment of the Medicare Part D subsidy. AT&T Inc. ("AT&T") intends to take a non-cash charge of approximately $1 billion in the first quarter of 2010 to reflect the impact of this change. As a result of this legislation, including the additional tax burden, AT&T will be evaluating prospective changes to the active and retiree health care benefits offered by the company.
Oh, there won't be any material impacts until 2014 eh?
I told you that was BS, and now you're seeing it. If you're wondering how this stacks up, AT&T had revenue of $123 billion and a reported profit margin of 10.19%, for a net profit of $12.54 billion.
This represents about 8% - for this quarter.
Caterpillar (NYSE: CAT) reported $32.4 billion in revenue and a 2.76% profit margin, with a net income attributed to common of $895 million. Their $100 million charge amounts to 11% of that income.
John Deere (NYSE: DE) reported $22.8 billion in revenue, a 4% profit margin and $912.80 million in net profit; their $150 billion charge amounts to 16% of net income.
Still think this is no big deal eh?
I will note that "EPS", or Earnings Per Share, is how we value stocks. These valuation "hits", if they are somewhat representative, imply that stocks instantly became overvalued by somewhere between 10-15% when President Obama's pen hit the paper.
I hope (1) you have enjoyed the market rally and (2) have hedged yourself, as the efficient market hypothesis says that this new information will shortly appear directly in stock prices.
PS: The impact gets worse as current employee costs ratchet upward - these charges are only against retiree obligations for existing retired workers that remain as liabilities to the firm. To expect that the total impact could easily reach 20% or more of net profits over the next couple of years is not at all farfetched, and the market should soon start discounting that too.
Consequences Of Health Care: Valuations
Mar 26, 2010 2:59 PM - Show original item
via Sepideh's shared items
Yeah, I know, Obama has said that there would be no "material" impact to finances until 2014.
Liar.
Truth: Caterpillar and John Deere already announced non-cash charges of $100 and $150 billion, respectively, for this year based upon the impact of this bill on forward retiree health care costs.
The law saws you must account for such changes when you become aware of them, and that would be now.
But today a 100-kiloton device landed on AT&T's (NYSE: T) balance sheet - they announced a one billion dollar non-cash charge:
On March 23, 2010, the President signed into law comprehensive health care reform legislation under the Patient Protection and Affordable Care Act (HR 3590). Included among the major provisions of the law is a change in the tax treatment of the Medicare Part D subsidy. AT&T Inc. ("AT&T") intends to take a non-cash charge of approximately $1 billion in the first quarter of 2010 to reflect the impact of this change. As a result of this legislation, including the additional tax burden, AT&T will be evaluating prospective changes to the active and retiree health care benefits offered by the company.
Oh, there won't be any material impacts until 2014 eh?
I told you that was BS, and now you're seeing it. If you're wondering how this stacks up, AT&T had revenue of $123 billion and a reported profit margin of 10.19%, for a net profit of $12.54 billion.
This represents about 8% - for this quarter.
Caterpillar (NYSE: CAT) reported $32.4 billion in revenue and a 2.76% profit margin, with a net income attributed to common of $895 million. Their $100 million charge amounts to 11% of that income.
John Deere (NYSE: DE) reported $22.8 billion in revenue, a 4% profit margin and $912.80 million in net profit; their $150 billion charge amounts to 16% of net income.
Still think this is no big deal eh?
I will note that "EPS", or Earnings Per Share, is how we value stocks. These valuation "hits", if they are somewhat representative, imply that stocks instantly became overvalued by somewhere between 10-15% when President Obama's pen hit the paper.
I hope (1) you have enjoyed the market rally and (2) have hedged yourself, as the efficient market hypothesis says that this new information will shortly appear directly in stock prices.
PS: The impact gets worse as current employee costs ratchet upward - these charges are only against retiree obligations for existing retired workers that remain as liabilities to the firm. To expect that the total impact could easily reach 20% or more of net profits over the next couple of years is not at all farfetched, and the market should soon start discounting that too.
Sunday, March 21, 2010
No Party??
I found it interesting today at the St.Patrick's day parade that we had many politicians, and none of them listed their party on the signs. . . .
Being that this is MA I bet most were Dems . . . wonder why they are not calling attention to that in this "blue" state?? I did see one that also had a Brown sticker on his car so we know what side he is on. . . .
The Republican party also had it's own float that called for us to vote Republican and back the revolution in November. . . I wonder if they realize how close we are to a revolution and I don't think it is the one they are thinking of. . . .
Being that this is MA I bet most were Dems . . . wonder why they are not calling attention to that in this "blue" state?? I did see one that also had a Brown sticker on his car so we know what side he is on. . . .
The Republican party also had it's own float that called for us to vote Republican and back the revolution in November. . . I wonder if they realize how close we are to a revolution and I don't think it is the one they are thinking of. . . .
Health Care No One Wants
Well the Democrats have got what they want, with one vote on Healthcare they will destroy the recover, and send our economy and our way of life down the crapper.
This bill will bankrupt our country as it has done in Massachusetts, it will not stop rising health care costs, and like Social Security and Medicare it will be badly run and in the red in no time.
What is the next step? we have two choices left to save our country. First we take back Congress in the fall and vote in people that will repeal this law. Then we vote out Obama in 2012 and make sure the Dems pay dearly for their betrayal of the Constitution. Should we fail at this I can easily see the US as we know it ending. It will splinter as states pull out of the republic to save themselves from this out of control government. In short I think this may be the beginning of the end of the republic, killed by Obama.
The government is out of control and out of touch. They now pass bills we don't want into law and smile at us as they take more and more control of our lives. We are losing our country one bill at a time, and instead of slowing down it is speeding up.
This bill will bankrupt our country as it has done in Massachusetts, it will not stop rising health care costs, and like Social Security and Medicare it will be badly run and in the red in no time.
What is the next step? we have two choices left to save our country. First we take back Congress in the fall and vote in people that will repeal this law. Then we vote out Obama in 2012 and make sure the Dems pay dearly for their betrayal of the Constitution. Should we fail at this I can easily see the US as we know it ending. It will splinter as states pull out of the republic to save themselves from this out of control government. In short I think this may be the beginning of the end of the republic, killed by Obama.
The government is out of control and out of touch. They now pass bills we don't want into law and smile at us as they take more and more control of our lives. We are losing our country one bill at a time, and instead of slowing down it is speeding up.
Friday, March 19, 2010
Healthcare bill "Deemed" Unconstitutional?
Interesting read HERE. . .
DEEMING the bill passed is Unconstitutional and opens up a whole new can of worms. . . .
DEEMING the bill passed is Unconstitutional and opens up a whole new can of worms. . . .
Thursday, March 18, 2010
Where are we going with all this??
As I walked through our break room at work today I saw the smiling skull face of Nancy Pelosi I knew we were in trouble. Seems like they have defeated an attempt by Republicans to force them to actually you know VOTE on the health care reform.
I am sorry folks, but when you make George Bush II and the actions of the Republicans over the last few years look good, you got problems.
Pelosi knows they don’t have the votes to pass this because the majority of the people don‘t want it. So they will force it on us.
I wonder if historians will look back on this as the start of the end of the USA or just the start of the next civil war in this country. They seem hell bent on destroying the USA, and they are doing a good job at it.
We have got to kick them out of power in November and then we have to repeal this BS if it actually passes. Somehow I don’t think kicking them out will be hard after this. . . the repeal, that could get messy. . . .
I am sorry folks, but when you make George Bush II and the actions of the Republicans over the last few years look good, you got problems.
Pelosi knows they don’t have the votes to pass this because the majority of the people don‘t want it. So they will force it on us.
I wonder if historians will look back on this as the start of the end of the USA or just the start of the next civil war in this country. They seem hell bent on destroying the USA, and they are doing a good job at it.
We have got to kick them out of power in November and then we have to repeal this BS if it actually passes. Somehow I don’t think kicking them out will be hard after this. . . the repeal, that could get messy. . . .
Wednesday, March 17, 2010
Health Care BS
Read it HERE
Basically what we have here is the TREASURER of Mass, the one state with forced health care telling the world how much it hurts our state. . . .
What we find out is that it is costing much more that they said it would, that it has not lessen the load on the emergency rooms, and that premiums are still going up at a record pace here in MA.
It is all a lie folks. Universal health care is never going to work. We tried in MA and it is killing us.
I also heard and interview with him on the way home. He says this is a major failure and it has not delivered on any of the hype. Our rates are going crazy in this state, and this is not helping them. We also now have a doctor shortage, including primary care doctors. They don’t want to be here.
To top this off they are trying to force it through games and illegal votes or lack of votes as the case may be. The government is showing us how little they care about the will or voice of the people. . . . I don’t think I want to know where this would lead, but I am sure it is someplace any sane person would want to avoid. . . .
Make sure you tell your congressman that a vote for healthcare is a vote to remove him from office!
Basically what we have here is the TREASURER of Mass, the one state with forced health care telling the world how much it hurts our state. . . .
What we find out is that it is costing much more that they said it would, that it has not lessen the load on the emergency rooms, and that premiums are still going up at a record pace here in MA.
It is all a lie folks. Universal health care is never going to work. We tried in MA and it is killing us.
I also heard and interview with him on the way home. He says this is a major failure and it has not delivered on any of the hype. Our rates are going crazy in this state, and this is not helping them. We also now have a doctor shortage, including primary care doctors. They don’t want to be here.
To top this off they are trying to force it through games and illegal votes or lack of votes as the case may be. The government is showing us how little they care about the will or voice of the people. . . . I don’t think I want to know where this would lead, but I am sure it is someplace any sane person would want to avoid. . . .
Make sure you tell your congressman that a vote for healthcare is a vote to remove him from office!
Pita loves animals right???
Not so much - read it HERE
And I quote "PETA euthanizes over 90 percent of the dogs and cats relinquished to its headquarters in Norfolk, Va. In 2009, PETA euthanized 2,301 dogs and cats — 97 percent of those brought in — and adopted only eight, according to Virginia state figures. And the rate of these killings has been increasing. From 2004 to 2008, euthanasia at PETA increased by 10 percent."
Yep, they love animals all right. . ..
And I quote "PETA euthanizes over 90 percent of the dogs and cats relinquished to its headquarters in Norfolk, Va. In 2009, PETA euthanized 2,301 dogs and cats — 97 percent of those brought in — and adopted only eight, according to Virginia state figures. And the rate of these killings has been increasing. From 2004 to 2008, euthanasia at PETA increased by 10 percent."
Yep, they love animals all right. . ..
Friday, March 12, 2010
So You Want Obamacare?
Are you willing to let the government decide who goes to college to get it?
Yes, that is right, they added an amendment to the health care bill to outlaw privet student loans. So if it passes the only one giving student loans will be the Fed. Why would they want this?? Easy – control.
They will have the power to decide who goes to college since most need aid to do it. If you are the wrong skin color you don’t get aid, and don’t go to school. So that poor white family with the gifted son who wants to be a doctor? Ya, no go, sorry. We want the other kid with green skin and the C average to go to college instead.
This is a bad deal and it is getting worse as it goes. We cannot afford this in any way, shape or form. This is a power grab that will hurt us – I am talking more taxes, More government control of your heath, and now control of the decision if your kid goes to college. Obama is trashing this country one bill at a time.
Yes, that is right, they added an amendment to the health care bill to outlaw privet student loans. So if it passes the only one giving student loans will be the Fed. Why would they want this?? Easy – control.
They will have the power to decide who goes to college since most need aid to do it. If you are the wrong skin color you don’t get aid, and don’t go to school. So that poor white family with the gifted son who wants to be a doctor? Ya, no go, sorry. We want the other kid with green skin and the C average to go to college instead.
This is a bad deal and it is getting worse as it goes. We cannot afford this in any way, shape or form. This is a power grab that will hurt us – I am talking more taxes, More government control of your heath, and now control of the decision if your kid goes to college. Obama is trashing this country one bill at a time.
Thursday, March 11, 2010
Prom cancled over Lesbian Student
The story is HERE
This story shows a total lack of understanding on both sides if you ask me.
First, I think that the school is wrong, if she wants to bring her girlfriend then she should be able to (if it is not a safety issue).
Let me take the other side for a moment:
Now for the girls – Yes they should be allowed to go to the prom but –
My thoughts on it? The parents should get together, find someplace they can have a prom, and do it without the school. . . . otherwise, kids, you started the fight, live with the results. Sorry but life is not fair and you have to learn that.
This story shows a total lack of understanding on both sides if you ask me.
- As I understand it the school has a standing policy that your date must be the opposite sex.
- This is in the deep south and I don’t know the area – is there a real fear of harm to the girls that the school does not want to have responsibility for?
- Faced with the bills for a law suit, why not take the easy way out and just cancle the dance? The job of the school is to educate, not hold dances. . .
- They/She knew the policy and tried to sue the school. What did they think the school would do? It costs lots of money to go to court and in these days of cut budgets it seems to make sense that the school would just say “forget it” when faced with the costs involved.
- Now I am sorry she didn’t think of that option but now she needs to deal with it. If you want to make a statement about a bad policy then be ready for the fight, and expect them to hit back.
- Take advantage of the press, get the parents and kids of the school in front of the school board and prove that there is no good reason not to change the policy.
Keep your guns folks!
New story on CNN about the shootings in LA after Katrina. . .
For those of you that think it was OK for the cops to disarm everyone and wish they could take all our guns now read THIS.
This is why you can not let the government disarm the people. The government should fear the people and be able to be kept in line by the people as the Founding Fathers wanted. They work for us folks, and they have forgotten that over and over again.
When it all hits the fan for whatever reason you need to be able to take care of yourself - no matter what the sheep think.
For those of you that think it was OK for the cops to disarm everyone and wish they could take all our guns now read THIS.
This is why you can not let the government disarm the people. The government should fear the people and be able to be kept in line by the people as the Founding Fathers wanted. They work for us folks, and they have forgotten that over and over again.
When it all hits the fan for whatever reason you need to be able to take care of yourself - no matter what the sheep think.
Acorn is Back
Well, it looks like Obama thinks we have forgotten about Acorn and he is now shutting down the investigation of them. Guess that is his way to pay them back for getting him elected
You can read more HERE
Ya, clear and transparent administration my ass. . . . he is just as dirty as the rest of them. Remember this in November and vote out a Dem. . .
You can read more HERE
Ya, clear and transparent administration my ass. . . . he is just as dirty as the rest of them. Remember this in November and vote out a Dem. . .
Wednesday, March 3, 2010
Health Care No One Wants
Obama is at it again
He is pushing the same old health care plan that got Scott Brown in the Senate.
The UP DOWN vote he wants means we get all the things he said they took out. . . Death panels, No Mammograms for women 40-50, Illegal immigrants get care. . . . etc.
Tell me, how do they justify this crap? Take the Mammograms, these are a death panel right there. They will deny the high risk group screening, then after 50 (if you live) they will tell you that you are too old to spend money on so here are pills for the pain. go home and die quietly.
Don't think so? they are doing it at the VA now. Our vets are being denied surgery to fix things when the pain is considered "manageable" with drugs.
This thing stinks from the top down. . .
Remember this in November folks. They will ram rod this through even though they work for us and most folks don't want this. They don't trust the Fed and this is why. Write your Congressmen, let them know they will be out of work if this passes. . .
He is pushing the same old health care plan that got Scott Brown in the Senate.
The UP DOWN vote he wants means we get all the things he said they took out. . . Death panels, No Mammograms for women 40-50, Illegal immigrants get care. . . . etc.
Tell me, how do they justify this crap? Take the Mammograms, these are a death panel right there. They will deny the high risk group screening, then after 50 (if you live) they will tell you that you are too old to spend money on so here are pills for the pain. go home and die quietly.
Don't think so? they are doing it at the VA now. Our vets are being denied surgery to fix things when the pain is considered "manageable" with drugs.
This thing stinks from the top down. . .
Remember this in November folks. They will ram rod this through even though they work for us and most folks don't want this. They don't trust the Fed and this is why. Write your Congressmen, let them know they will be out of work if this passes. . .
Tuesday, March 2, 2010
Assault Weapons Ban 2?
Sounds like Obama is sounding out the idea of another Assault Weapons Ban. . . . He must be trying to help the gun industry more I guess.
If this is true you can expect sales through the roof, and if it passes you can expect 1994 to look like a cake walk for the Democrats, this will finish them in DC for the forseeable future. . . .
Now the real quesiton - Since Obama has probably figured out he will never get a second term, will he trash the party to get the AWB? Will Congress let him???
We will see how dumb they really are. . . .
If this is true you can expect sales through the roof, and if it passes you can expect 1994 to look like a cake walk for the Democrats, this will finish them in DC for the forseeable future. . . .
Now the real quesiton - Since Obama has probably figured out he will never get a second term, will he trash the party to get the AWB? Will Congress let him???
We will see how dumb they really are. . . .
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