Is It Really About Health Care
Is It Really About Health Care
Originally posted at the Tea party
nation site April, 5 2010
“There are times in a person’s life,
when one goes through an experience that is either a moment of clarity or a
moment of reconditeness.”
On April 21st Congress has summoned
the nation’s three largest employers, (AT&T Inc., Caterpillar Inc., and
John Deere Co.) top executives, to Washington, to prove that cost of their
assertions are actually what they claim. They were summoned by, Congressman
Henry Waxman, whom I quote “….your assertions are a matter of concern. They
also appear to conflict with independent analyses.” It begs to question why
these companies choose now to speak out in opposition of the new health care
law.
Could that be the reason, it part,
why, prior to being signed into the law, it was not made available to public,
until after its signing? Or, does it have anything to do with, why it is still
being, what they call still being adjusted? Being told to bring with them “…any
analyses related to the projected health care reform.”…. along with “…any
documents, including e-mail messages, sent to or prepared or reviewed by senior
company officials related to the projected impact of health care reform.” Not
to mention a “….explanation of the accounting methods…used in preparing the
cost impact.” The health care plan is designed to bring down cost and Mr.
Waxman intends to find out why they claim they will not. If this is truly the
case, would it prove to be due diligence on his part if he choose to
investigate following?
The main issue causing their
malcontent is the additional amount of money that will be required to cover
each of its companies, retried employees’ prescription drugs. Could this be all
be staged so the Obama administration to go after the pharmaceutical drug
companies? In any regard, AT&T claims it will cost them an additional billion
dollars, Caterpillar claims it will cost them an additional 100 million
dollars, and John Deere claims it will cost them 150 million dollars. All three
are global companies and neither is controlled by what we would call insiders.
For those of you, who are unaware, an insider is someone, who not only owns a
percentage of the company, but is also one of its major executives or sit its
board of directors.
Neither of these three companies has
a sole individual we could call an insider. The majority of stock ownership is
held by private institutional investors, collectively owning, on avg., of 65%,
of the public traded stock of each one of these companies. For the purpose of
this conversation we will just reference the following; Vanguard Group, Inc.,
(The) BlackRock Institutional Trust Company, N. A. FMR LLC, State Street Bank
Corporation, and Wellington Management Company. Each of these institutions owns
a percentage of all three of these extremely profitable companies. Here is
brief review of some of their earnings.
AT&T’s earnings per share (is a company’s
fiscal year net income divided by its total outstanding shares)is $2.11. The
six institutions mention earlier own around 12.52% of the company’s stock and
made over 1.3 billion dollars the last fiscal year. Is it a coincidence,
AT&T claims the new health care law will cost them a billion dollars?
Caterpillar’s earnings per share is
$1.43. The six institution owns around 25.95% of this companies stock and made
over 240 million dollars last fiscal year. Remember they claimed, the health
care law will cost
them 150 million dollars. Another coincidence, perhaps?
them 150 million dollars. Another coincidence, perhaps?
John Deere’s earnings per share is
2.15. The same six companies in this instance own around 10.75% of the company’s
stock and made over 113 million dollars last fiscal year. Coincidence?
Pasted below is three Yahoo finance
links. Take a look for yourself at the short list of each one of these companies’
institutional investors.
Proceed to inquiry to ascertain,
which of the major institutional investors, whom currently have ownership, in
all the major pharmaceutical companies.
Now tell me!
Did you have your moment?
Did you have your moment?
Steven
Willis
Henderson
Comments
Post a Comment