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Obama Attacks Cat, Others For Estimates

From Illinois’ Peoria Journal-Star:

Cat, others criticized by Obama administration for cost estimates

By PAUL GORDON
Mar 26, 2010

PEORIA — Caterpillar Inc. and other large companies are being criticized by the Obama administration for reporting now that they will take millions of dollars in hits to their earnings because of one portion of the new health care legislation.

Caterpillar and Deere were accused of being “premature and irresponsible” by U.S. Secretary of Commerce Gary Locke for saying a change to Medicare Part D laws would hurt their earnings in the present quarter.

Those companies are also being questioned about the amounts they are claiming — amounts that seem to get larger with every company that makes a report to the U.S. Securities and Exchange Commission about taking a one-time charge as a result of the legislation.

Caterpillar started it all by saying it would take a $100 million hit on its first quarter earnings. Deere & Co. followed with a report it would lose $150 million to its fiscal second quarter earnings.

The largest estimated hit yet, $1 billion, was announced Friday by AT&T…

Obama-care is not playing well in Peoria.

But you do not question The Revolution.

This article was posted by Steve on Saturday, March 27th, 2010. Comments are currently closed.

16 Responses to “Obama Attacks Cat, Others For Estimates”

  1. NC Cop says:

    Fear not. Obama will have the CEO’s of these companies in Washington to justify their arguments. Then eventually the government will “forbid” layoffs or price hikes…..it is the next logical step in our march toward Socialism, oops, I mean, change.

    • JohnMG says:

      ……”Fear not. Obama will have the CEO’s of these companies in Washington……”

      Then he’ll force them to resign and appoint “new” leadership to shepherd the troubled companies through turbulent financial crises.

      And the old ones will be U S Ambasadors and retire with rich gub’mint pensions, and everybody will live happily ever after.

      Amen!!

  2. proreason says:

    “large companies are being criticized by the Obama administration for reporting now that they will take millions of dollars in hits to their earnings because of one portion of the new health care legislation”

    well, they must be racists.

    What other possible reason could they have for taking such huge losses.

    It can only be to take revenge on the smartest man to ever sit in the White House, a black man to boot.

    AT&T will propably be changing its logo to a noose soon.

    And btw, isn’t it amazing how the Moron has become such a business expert in 13 short months that he can criticize people who are at the apex of their companies, people who seem to be mking some extremely difficult actions to save their businesses. Obviously, they should have talked to the genius first. Perhaps he could have saved them by skinning some teabaggers, or something.

    And isn’t the word “now” also interesting in the lead sentence…..”criticized by the Obama administration for reporting now

    Maybe they didn’t get the memo that all bad news was supposed to wait until AFTER November. Another clue about thier racist motives.

  3. beautyofreason says:

    ‘Caterpillar and Deere were accused of being “premature and irresponsible” by U.S. Secretary of Commerce Gary Locke…’

    Oh, the arrogance of these guys. What’s more irresponsible than making it harder on American companies trying to survive a recession? What the idiots in Washington don’t realize is that increased costs to companies translate into higher prices of goods and services, which result in a lower standard of living for the average American – including the poor. In LA the new “green energy” program will increase energy costs across the board – I guess the liberals consoled themselves by making it a progressive tax, increasing with income for those sinful rich people. But even the poorest families won’t be happy to shell out an additional 8% for basic energy to placate a tyrannical statist who insists on solar.

    The Obama administration is pretty much on track to destroy the country within the next four years. I’ll be surprised if unemployment is lower than 9 percent by the end of his term.

  4. BigOil says:

    Funny how the CEO of Caterpillar has gone from being on Barry’s economic board to getting hit with a board upside the head.

    You’d think a CEO would have been smart enough to see what we did years ago – that Barry is an adolescent Marxist thug.

  5. Rusty Shackleford says:

    All I can say is, “Keep talking boy, just keep talking. You’re the biggest ally we have no in defeating this thing. The more you talk the worse it sounds and the more people wake up and see what the hell you’ve done.”

    And, since he loves to hear the sound of his own voice, he will be the main reason this thing gets destroyed.

  6. GTBurns says:

    The Obama administration is pretty much on track to destroy the country within the next four years. I’ll be surprised if unemployment is lower than 9 percent by the end of his term.

    Here is the problem to his plan, it will destroy his own Presidency and political party before it even gets that far. Ram a piece of unpopular legislation through congress and then be surprised when the voters are angry with you.

  7. ptat says:

    You nailed it, Rusty–Obama needs to keep on blathering his gibberish–even his voters are getting wise. I didn’t see one Obama bumper sticker yesterday in my travels. You have to be nuts to publicly support this disaster now. BTW–everyone come to D.C on April 15th! Let’s top 9/12! Hear us ROAR, Marxists!

  8. jobeth says:

    “Caterpillar and Deere were accused of being “premature and irresponsible” ”

    Well, well, Caterpillar and Deere meet Obalmy’s big blue commie bus.

    They join all the others who have dared to go up against “The One”. Or those who have outlived their usefulness…like grandma.

    Obalmy needs to change his motto to “Shut up and do as you are told!”

    Perhaps the head honchos at Cat and Deere thought if they cozied up to OBalmy they would be “protected” from the betrayal of the American Capitalist.

    If so…they are only reaping what they deserve. Once he’s finished using them for propaganda they are just used up ‘useful idiots’.

    This kind of cozy up deal may have worked in the old days. There was a measure of “honor among theives” or in this case “back scratchers”.

    Except now they can all expect to be dumped as soon as they stop being useful. And they stop being useful once they complain.

    • proreason says:

      The only thing he’s pissed off about is that the businesses publicly announced the write-offs before the election.

      Since there is nobody in the administration that has so much as run a lemonade stand, they are ignorant of the fact that corporations are required by law to make public announcement of financial impacts as soon as those impacts are certain.

      But, of course, they don’t care one iota about the law.

      In their minds, they are the law. The constitution, bankruptcy law, corporate law…..fk that….here’s what WE say. And you better do it or we will ruin you.

      Of all of the aspects of this evil cabal….that one is the most dangerous.

    • jobeth says:

      yep!

  9. U NO HOO says:

    Uh, didn’t we all hate ENRON because it always had optimistic, glowing financial reports?

    Until the fit hit the shan.

  10. bousquem says:

    Wow, it seems like barry is even more childish than ever. He seems to think that everyone must agree with what he says and if not then they must be pubically shamed into following his line of thinking regardless that his thinking will cause the companies to have alot more costs and probably layoff a good number of workers if not sink the company entirely. Of course sinking the company will probably come on the heals of even more legislation and maybe forcible unionization of everyone in the company with all the extra union benefits being payed 100% by the company and not being able to fire anyone regardless that the company can now not turn a profit because of excess goverment regulation.

  11. AcornsRNutz says:

    Shovel ready jobs= your own grave needs digging. Frankly I feel for the hard working men and women of caterpillar who will get the brunt of whatever shortfalls the comapny experiences, but these guys backed this goober and now their uppance is a comin’. I am sure there are tons of old proverbs that are apt for this situation.

    • proreason says:

      I like the strategy that Mark Levin and others have described.

      When a business owner has to lay people off, look for the Obamy bumper stickers in the parking lot.

      Lay those people off.

  12. AcornsRNutz says:

    Pro,
    Those people don’t have jobs anyway.


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