Tuesday, March 30, 2010

Obamacare Hits More Companies

Joining John Deere, Caterpillar, Medtronic, Verizon, Massachusetts Medical Device Manufacturers and AT&T, are Prudential Financial and Sallie Mae.
"Insurer Prudential Financial Inc. said Monday that it will take a $100 million charge in the first quarter in relation to the recent health care overhaul legislation." [AP]


"Powerhouse student loan provider Sallie Mae says layoffs are imminent as a result of President Obama's new student loan overhaul. This legislation will force Sallie Mae to reduce our 8,600-person workforce by 2,500," Conwey Casillas, Vice President of Sallie Mae Public Affairs, said in a statement to Fox News.[...]

"The student loan provisions buried in the health care legislation intentionally eliminate valuable default prevention services and private sector jobs at a time when our country can least afford to lose them," Casillas told Fox News.

"We are profoundly disappointed that a reform plan that would have achieved more savings for students was ignored and now thousands of student loan experts will unnecessarily lose their jobs," Casillas said." [Fox]

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