Boeing Takes $150 Million Healthcare Charge

Jobs Threatened In Washington and Illinois

“President Barack Obama used his weekly radio address to tout the economic benefits of overhauling the health care system, saying that reform would help build a ‘new foundation for our economy to create the good, lasting jobs and shared prosperity of tomorrow.’” (Nia-Malika Henderson, “Obama: Health bill will create jobs,” Politico, 1/9/10)

Boeing – Key Job Creator In Washington And Illinois – Takes Hit From Dems’ Healthcare Charge:

"Boeing Co. will take a charge of $150 million due to the recent health care overhaul legislation, the aircraft maker said Wednesday. The charge will hurt earnings by 20 cents per share in the first quarter of 2010. In 2013 Boeing will no longer be able to claim an income tax deduction related to certain prescription drug benefits for retirees. Accounting rules require that the company take the charge during the period the legislation is enacted… Boeing, which is based in Chicago, gave a cautious outlook for 2010 in January after dealing with program delays and declining orders in 2009… But Boeing said it will now review its guidance in light of the health care reform and update it when it releases first-quarter results. Shares fell 92 cents to $72.61 during morning trading.” (“Boeing to take charge on health care reform,” Associated Press, 3/31/10)