Despot Dems Intimidate/threaten business because of their staggering Obamacare losses
Pamela Geller
Atlas Shrugs
3/29/2010
The bloodsucking Dem despotic government is threatening retribution to businesses for filing reports required by law.
As readers may or may not know, publicly traded companies are required to be audited and to file a number of disclosures with the SEC. These disclosures include quarterly and yearly financials, and 8-Ks, which are disclosures of anything material affecting the company such as management changes, debt or profits. The theory behind that is that anything the management knows it must disclose to the public.
Now it is standard practice when filing an SEC statement to also release a press statement, because the last thing any company wants is for some enterprising reporter to go looking through the SEC filings and start writing articles with his or her interpretation of them. No, the company wants to control the narrative as far as it is possible and legal.
Okay, so last week a bunch of companies made “statements” regarding the health care legislation that passed. They were required by law to recognize accounting effects and file an 8-K as soon as they knew of the effects. They did so.
Here’s the gestapo “invite”:
The Subcommittee on Oversight and Investigations will hold a hearing on April 21, 2010, at 10:00 a.m. in Room 2123 of the Rayburn House Office Building to examine the impact of the new law on AT&T and other large employers. We request your personal testimony at this hearing.
To assist the Committee with its preparation for the hearing, we request that you provide the following documents from January 1,2009, through the present: (1) any analyses related to the projected impact of health care reform on AT&T; and (2) 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 on AT&T. We also request an explanation of the accounting methods used by AT&T since 2003 to estimate the financial impact on your company of the 28% subsidy for retiree drug coverage and its deductibility or nondeductibility, including the accounting methods used in preparing the cost impact statement released by AT&T this week.
We ask that you provide the requested information by April 9, 2010. For purposes of this request, the term “senior company officials” includes all company officials at the level of Vice President and above for the company or any subsidiary. Attachments to this letter provide additional information about responding to Committee document requests and testifying before the Committee. If you have any questions regarding this request, please contact Meredith Fuchs with the Committee staff at (202) 226-2424. ~a.~
Henry A. Waxman
…Waxman’s demands came Friday in letters to several executives.
Geller’s article continues with an exerpt from a Washington Examiner article (“Democrats threaten companies hit hard by health care bill”) at Atlas Shrugs.
