Thursday, March 25, 2010

Apres Barack, le deluge...

Nothing runs like a Deere:
Deere & Company announced today that the Patient Protection and Affordable Care Act signed into law this week will adversely impact its expenses for fiscal 2010. As a result of the legislation, the company's expenses are expected to be about $150 million higher on an after-tax basis, primarily in the second quarter. This impact was not included in the 2010 outlook for net income attributable to Deere & Company of approximately $1.3 billion disclosed in the company's first-quarter earnings report on February 17th.
Thank God - THANK GOD! - that we have Obamacare in place to provide health insurance for all of those workers that will be put out of work by ... Obamacare...


(H/T: Jonah Goldberg)

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