John Deere & Co. ( DE ) said Thursday the health-care reform act signed into law this week will cost the company an extra $150 million this year.
The bulk of the costs will come in the second quarter, Deere said. The amount was not included in the company's 2010 guidance issued earlier this year that called for net revenue of $1.3 billion.
The announcement from the farm and heavy equipment maker follows a similar one from Caterpillar Inc. ( CAT ) last week. Caterpillar said the new legislation will add an additional $100 million in charges to the company's books this year.
On Tuesday, President Obama signed into law sweeping health-care changes that supporters say will completely revamp the industry, providing health-care coverage to some 32 million uninsured Americans. But the legislation is expected to take its toll on corporate America, particularly large manufacturing companies with a large number of retirees.
Shares of Deere were up about 1% in Thursday trading. Shares of Caterpillar rose about 1.5%.
SourceQuestion : Cub Cadet LT 1024 BRIGGS 24 HP ENGINE When the Hydrostatic switch is turned on to the blades the mower bogs and will not come up to speed. And seems to studder while in motion (Blade not engaged) Things done: Spark plugs replaced, both air filters replaced, fuel filter replace, fuel drained and replaced, lower deck removed belts checked and all blades move freely. Hope you can help me out….. Bob Wolfe
Answer : The problem is likely a plugged up jet in the carburetor. The plugged up jet is causing an improper air fuel mixture to the engine under load. I would take the carburetor apart ad give it a good cleaning and rebuild.
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Source: $17 : Cub Cadet LT 1024 BRIGGS 24 HP ENGINE When the Hydrostatic ...
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