From the WSJ ($):
“The Medicare prescription-drug law passed late last year is having a healthy effect on the outlook for corporate finances.
Within the past few weeks, a handful of large companies have reported they expect to collectively save more than $2.5 billion over time, thanks to the new government subsidy for employers that offer prescription-drug benefits to retirees.
These include estimated savings of $572 million at BellSouth Corp., $415 million at AMR Corp.’s American Airlines, $300 million to $400 million at Deere & Co., $190 million at Alcoa Inc., $450 million at U.S. Steel Corp., and $500 million at Delphi Corp.”
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What is the proper role of the FED ?
“In my view the proper role of the FED is to disappear” Murray Rothbard
http://mm.mises.org/?/mp3/rothspeak/feddisappear.mp3
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