Continued Damage From Government Health Care

Boeing, Goodrich, And Illinois Tool Works Join Companies That Project Major Losses As A Result Of The Newly Passed Health Care Law
“Boeing Says It Will Take A Charge Of $150 Million Due To The Recent Health Care Overhaul Legislation. The Aircraft Maker, Based In Chicago, Says The Charge Will Hurt Earnings By 20 Cents Per Share In The First Quarter Of 2010.” (“Boeing To Take Charge On Health Care Reform,” The AP, 3/31/10)

“Goodrich Corp. Says It Expects To Incur A One-Time Charge Of $10 Million, Or 8 Cents Per Diluted Share, Against Its First-Quarter Results. The Company Cites The Recently Passed U.S. Health-Care Reform Legislation.” (“Goodrich Foresees $10M Charge From Health-Care Reform,” Charlotte Business Journal, 3/31/10)

“Charlotte-Based Goodrich (NYSE:GR) Is A Global Supplier Of Systems And Services To The Aerospace And Defense Industries.” (“Goodrich Foresees $10M Charge From Health-Care Reform,” Charlotte Business Journal, 3/31/10)

“Illinois Tool Works Inc. Lowered Its First Quarter And Yearly Earnings Forecast Tuesday Due To Costs Related To The Health Care Legislation Recently Passed By Congress. The Industrial Equipment Maker Said It Will Record A Tax Adjustment Of $22 Million, Or 4 Cents Per Share, To Reflect The Fact That Future Medicare Prescription Drug Subsidies Received By The Company For Retiree Prescription Drug Coverage Will Now Be Taxable.” (“Illinois Tool Works Lowers Outlook,” The Associated Press, 3/30/10)

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Tags: government health care, economic costs, Boeing, Goodrich, Illinois Tool,
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