What happened to all of the doom and gloom economic threads?
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Busybody
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Definitive Proof that Obamacare Raises Costs and Kills Jobs
A reader who heads an investment group came across this disclosure in a prospectus issued in connection with the recapitalization of a family-oriented restaurant chain. This isn’t a political statement, it is a legally-mandated disclosure to prospective investors, which renders the issuer liable if it isn’t true:
Although [XXX] already offers health care, there is expected to be an increase in costs associated with the affordable health care act (“ACA,” see “Risks” section). To mitigate this cost, employees that were working more than 30 hours per week, but less than 33, have moved down to 29 hours per week, reducing the “full time” pool requiring health insurance from 1100 to 835 employees. Those full time employees will be offered health care insurance through the Company’s program or may obtain it through the state Exchanges or expanded Medicaid programs. The Company cannot estimate the number of enrollees in the future program but based on several discussions with Health Insurance Agencies and the experience of restaurants in other states instituting mandatory health insurance, many are expected to turn it down or seek other publicly funded options. According to an NFP study of the Company’s health insurance and potential impact of the ACA, the total cost increase to the Company in 2014 is estimated to be $400,000 (or a 33% cost increase) which we have factored into our Projections. We believe this cost will continue to increase as the ACA is modified over the next several years but that most of the impact can be managed through cost reducing the plan or offset through menu price increases. Management does not agree with some in the industry that want to make a political statement by adding a line item to every check. Given their broad menu and ability to control portions, we believe the company has substantial control to raise prices at a time when everyone else in the industry will also try to raise prices or somehow otherwise improve margins.
Fewer full-time jobs, rising health care costs and higher restaurant prices. Anyone who couldn’t see that coming shouldn’t be allowed to vote.
This next item is closely related. Everyone knows that one of the purposes of Obamacare is to prohibit self-insurance, but it is less widely recognized that one of the program’s key goals is to move toward the abolition of health insurance, period. Greg Mankiw asks, “What is the purpose of insurance?”
A friend points me to this passage:
At a White House briefing Tuesday, Health and Human Services Secretary Kathleen Sebelius said some of what passes for health insurance today is so skimpy it can’t be compared to the comprehensive coverage available under the law. “Some of these folks have very high catastrophic plans that don’t pay for anything unless you get hit by a bus,” she said. “They’re really mortgage protection, not health insurance.”
I have the same problem with my other insurance policies. My homeowner insurance doesn’t cover the cost when my gutters need cleaning, and my car insurance doesn’t cover the cost when I need to fill the tank with gas. Instead, the policies cover only catastrophic events, like my house burning down or a major accident. Now that the Obama administration has fixed the health insurance system, I trust they will soon move on to solve these other problems.
Good Lord, let’s not give them any ideas!
UPDATE: Today’s Michael Ramirez cartoon fits, too:
A reader who heads an investment group came across this disclosure in a prospectus issued in connection with the recapitalization of a family-oriented restaurant chain. This isn’t a political statement, it is a legally-mandated disclosure to prospective investors, which renders the issuer liable if it isn’t true:
Although [XXX] already offers health care, there is expected to be an increase in costs associated with the affordable health care act (“ACA,” see “Risks” section). To mitigate this cost, employees that were working more than 30 hours per week, but less than 33, have moved down to 29 hours per week, reducing the “full time” pool requiring health insurance from 1100 to 835 employees. Those full time employees will be offered health care insurance through the Company’s program or may obtain it through the state Exchanges or expanded Medicaid programs. The Company cannot estimate the number of enrollees in the future program but based on several discussions with Health Insurance Agencies and the experience of restaurants in other states instituting mandatory health insurance, many are expected to turn it down or seek other publicly funded options. According to an NFP study of the Company’s health insurance and potential impact of the ACA, the total cost increase to the Company in 2014 is estimated to be $400,000 (or a 33% cost increase) which we have factored into our Projections. We believe this cost will continue to increase as the ACA is modified over the next several years but that most of the impact can be managed through cost reducing the plan or offset through menu price increases. Management does not agree with some in the industry that want to make a political statement by adding a line item to every check. Given their broad menu and ability to control portions, we believe the company has substantial control to raise prices at a time when everyone else in the industry will also try to raise prices or somehow otherwise improve margins.
Fewer full-time jobs, rising health care costs and higher restaurant prices. Anyone who couldn’t see that coming shouldn’t be allowed to vote.
This next item is closely related. Everyone knows that one of the purposes of Obamacare is to prohibit self-insurance, but it is less widely recognized that one of the program’s key goals is to move toward the abolition of health insurance, period. Greg Mankiw asks, “What is the purpose of insurance?”
A friend points me to this passage:
At a White House briefing Tuesday, Health and Human Services Secretary Kathleen Sebelius said some of what passes for health insurance today is so skimpy it can’t be compared to the comprehensive coverage available under the law. “Some of these folks have very high catastrophic plans that don’t pay for anything unless you get hit by a bus,” she said. “They’re really mortgage protection, not health insurance.”
I have the same problem with my other insurance policies. My homeowner insurance doesn’t cover the cost when my gutters need cleaning, and my car insurance doesn’t cover the cost when I need to fill the tank with gas. Instead, the policies cover only catastrophic events, like my house burning down or a major accident. Now that the Obama administration has fixed the health insurance system, I trust they will soon move on to solve these other problems.
Good Lord, let’s not give them any ideas!
UPDATE: Today’s Michael Ramirez cartoon fits, too:
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LadyVer
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JackLuis
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Geeze, Jack..Don't encourage them.
I'm just trying to point them to constructive concepts instead of Elephant Derps.
LadyVer
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I'm just trying to point then in constructive Derps.
They're already in Never Never Land..There's no going back for them.
Busybody
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you are two weeks late, TurdSniffer
Beco
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Its not?
mercury14
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We've had much of Obamacare in place for a few years now, and the cost-saving exchanges are the last big facet on the horizon. No Armageddon yet and no Armageddon in the foreseeable future. Unless you have a date in mind.
Busybody
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no we haven't
stop with the fucking LIES
and the exchanges will be fucked up
as I showed you what the "person" in charge said
Busybody
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Its OK
As long as NIGGER can play gold
COLOREDCUNT can buy dresses
ByeDummy can take 3 vacations in 3 months
and the 2 PROZZIES can go on TWO vacations in SPRINGBREAK
Sequester Cuts Trickle Down From The Middle Class
SUFFOLK, Va. -- The kitchen floor is curling up at Carol Rood's house. She and her partner removed the edging when they redid the cabinets last year, and now there's nothing to hold down the white-and-green linoleum where it meets the walls.
"This floor is nasty," Rood, 47, said during an interview in her kitchen. "That was the plan this year, was to do the floor. That's not happening now."
They're not fixing it because Rood's partner, Karol Sebastian, is facing at least two weeks' worth of unpaid days off from her job fixing helicopters for the U.S. Department of Defense. Sebastian, 45, is one of 90,000 civilian defense employees in Virginia expecting furloughs thanks to budget cuts known as sequestration.
As long as NIGGER can play gold
COLOREDCUNT can buy dresses
ByeDummy can take 3 vacations in 3 months
and the 2 PROZZIES can go on TWO vacations in SPRINGBREAK
Sequester Cuts Trickle Down From The Middle Class
SUFFOLK, Va. -- The kitchen floor is curling up at Carol Rood's house. She and her partner removed the edging when they redid the cabinets last year, and now there's nothing to hold down the white-and-green linoleum where it meets the walls.
"This floor is nasty," Rood, 47, said during an interview in her kitchen. "That was the plan this year, was to do the floor. That's not happening now."
They're not fixing it because Rood's partner, Karol Sebastian, is facing at least two weeks' worth of unpaid days off from her job fixing helicopters for the U.S. Department of Defense. Sebastian, 45, is one of 90,000 civilian defense employees in Virginia expecting furloughs thanks to budget cuts known as sequestration.
Busybody
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I know
Lets spend 30K per year for 4 yrs in
CUNT STUDIES
Plenty of HIGH PAYING JOBS out there for that
I know
NIGGER CURRY said so
HIGHER EDUCATION BUBBLE UPDATE: College Grads May Be Stuck In Low-Skill Jobs.
The recession left millions of college-educated Americans working in coffee shops and retail stores. Now, new research suggests their job prospects may not improve much when the economy rebounds.
Underemployment—skilled workers doing jobs that don’t require their level of education—has been one of the hallmarks of the slow recovery. By some measures, nearly half of employed college graduates are in jobs that don’t traditionally require a college degree.
Economists have generally assumed the problem was temporary: As the economy improved, companies would need more highly educated employees. But in a paper released Monday by the National Bureau of Economic Research, a team of Canadian economists argues that the U.S. faces a longer-term problem.
They found that unlike the 1990s, when companies needed hundreds of thousands of skilled workers to develop, build and install high-tech systems—everything from corporate intranets to manufacturing robots—demand for such skills has fallen in recent years, even as young people continued to flock to programs that taught them.
Remember this when cheerleaders say things like “At a time when the American worker’s wages are stagnant, and he is beset from competition from all sides, shouldn’t we be extolling education as one of the few ways one can invest in oneself — and not labeling it a dangerous boondoggle?” If you’re borrowing six figures for something that won’t get you a job that can cover the debt, it’s a dangerous boondoggle.
Lets spend 30K per year for 4 yrs in
CUNT STUDIES
Plenty of HIGH PAYING JOBS out there for that
I know
NIGGER CURRY said so
HIGHER EDUCATION BUBBLE UPDATE: College Grads May Be Stuck In Low-Skill Jobs.
The recession left millions of college-educated Americans working in coffee shops and retail stores. Now, new research suggests their job prospects may not improve much when the economy rebounds.
Underemployment—skilled workers doing jobs that don’t require their level of education—has been one of the hallmarks of the slow recovery. By some measures, nearly half of employed college graduates are in jobs that don’t traditionally require a college degree.
Economists have generally assumed the problem was temporary: As the economy improved, companies would need more highly educated employees. But in a paper released Monday by the National Bureau of Economic Research, a team of Canadian economists argues that the U.S. faces a longer-term problem.
They found that unlike the 1990s, when companies needed hundreds of thousands of skilled workers to develop, build and install high-tech systems—everything from corporate intranets to manufacturing robots—demand for such skills has fallen in recent years, even as young people continued to flock to programs that taught them.
Remember this when cheerleaders say things like “At a time when the American worker’s wages are stagnant, and he is beset from competition from all sides, shouldn’t we be extolling education as one of the few ways one can invest in oneself — and not labeling it a dangerous boondoggle?” If you’re borrowing six figures for something that won’t get you a job that can cover the debt, it’s a dangerous boondoggle.
RobDownSouth
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It's interesting how Beco routinely demonizes Obamacare, yet has never seemed to bother him that his beloved Israel requires compulsory medical insurance purchases as well.
I guess that's....That's...THAT'S....oh hell, you know.
Busybody
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Government Waste Could Pay For 45,000 Years Of WH Tours
There is likely even more waste that one could find, if one tried.
Via Breitbart:
A study from the National Republican Congressional Committee (NRCC) shows the federal government’s needless spending and costly regulations waste over $42 billion dollars–enough to fund up to 45,000 years of White House tours.
After the White House announced that its public tours would be one of the first government functions to be shut down due to the budget sequester’s slowdown of spending increases, conservatives have highlighted government spending on inconsequential projects ranging anywhere from puppet research to snail sex.
The NRCC has compiled a “waste list” totaling $42,642,721,597 from its findings. Some of its expenditures include:
•Dancing iPhone robots–$547,430: “Part of a $547,430 grant from the National Science Foundation went to the development of a dancing robot that connects to an iPhone.”
•Talking urinal cakes–$10,000: “Federal funds were used to purchase 400 anti-drunk driving talking urinal cakes.”
•YouTube video contest–$106,000: “$106,000 was spent on a YouTube video contest to promote eating fruits and vegetables.”
•Cupcakes–$2,000,000: “10 cupcake stores received $2 million in taxpayer-funded loans.”
•“Healthy food” initiative - $32,000,000: “$32 million was spent to increase access to healthy foods in low-income communities with no measurable result.”
•Robot squirrels–$325,000: “Researchers received part of a grant to construct robotic squirrels to test if they are attacked by rattlesnakes the same way real squirrels are.”
There is likely even more waste that one could find, if one tried.
Via Breitbart:
A study from the National Republican Congressional Committee (NRCC) shows the federal government’s needless spending and costly regulations waste over $42 billion dollars–enough to fund up to 45,000 years of White House tours.
After the White House announced that its public tours would be one of the first government functions to be shut down due to the budget sequester’s slowdown of spending increases, conservatives have highlighted government spending on inconsequential projects ranging anywhere from puppet research to snail sex.
The NRCC has compiled a “waste list” totaling $42,642,721,597 from its findings. Some of its expenditures include:
•Dancing iPhone robots–$547,430: “Part of a $547,430 grant from the National Science Foundation went to the development of a dancing robot that connects to an iPhone.”
•Talking urinal cakes–$10,000: “Federal funds were used to purchase 400 anti-drunk driving talking urinal cakes.”
•YouTube video contest–$106,000: “$106,000 was spent on a YouTube video contest to promote eating fruits and vegetables.”
•Cupcakes–$2,000,000: “10 cupcake stores received $2 million in taxpayer-funded loans.”
•“Healthy food” initiative - $32,000,000: “$32 million was spent to increase access to healthy foods in low-income communities with no measurable result.”
•Robot squirrels–$325,000: “Researchers received part of a grant to construct robotic squirrels to test if they are attacked by rattlesnakes the same way real squirrels are.”
Busybody
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Countdown to Chaos: Can the Feds Get Their Obamacare Act Together in Time?
When you stop and think about it, what the federal government is proposing to do in implementing Obamacare is absolutely breathtaking. The government is proposing to basically take over 17% of the American economy, create a massive database — yet to be built — so that insurance exchanges — yet to be designed — can give up to 62 million Americans access to individually tailored insurance plans, while coordinating among three federal agencies millions of requests for federal subsidies.
We are 149 days away from the October 1 deadline for state insurance exchanges to be up and running so that citizens can purchase plans and find out how much of a subsidy they are eligible for. The IT requirements to connect everything, have all the interfaces in place, not to mention securing the system from hackers looking to steal your personal information, are incredibly complex.
How complicated is it? Here’s a chart by Xerox (via WaPo) that should pop your eyes a bit:
Michael Barone published a letter from one of his readers, an IT professional with 35 years of experience, that lists just a few of the massive challenges facing the government:
“Wow, what can go wrong here? Let me assess this based on my years of experience in this industry. The federal government is going to build 50 exchanges, using a data hub that doesn’t exist physically and in fact, the design hasn’t been solidified, and must be accessible to a variety of data processing technologies that range from archaic to old.
Each of the 50 states have different eligibility rules, and with a significant number of states opting out, the federal government now has to learn the intricacies of each state’s Medicaid eligibility models which then scale to different applicability rules for different members of a given family. The thousands of pages of bureaucratic rules that will drive requirements haven’t been completed yet, and those requirements are needed to drive design not only for the application programs, but for the entire processing architecture. The issue of network, processor, and storage performance has to be decided, modeled and tested.
To complicate matters, the convoluted federal procurement rules for hardware and software have to be adhered to, which require mixing different hardware brands, software packages and service providers. Add to this compliance analysis to validate and re-validate trusted sources of data. All legal requirements at the local, state, and federal level have to be met by the design. And last but not least, staffing up for customer support which requires hiring, training on applications not yet designed and real world tested, the creation of support documentation, building or retrofitting facilities for these folks, setting up backup sites for the required redundancies, plus hardening the sites for natural disaster power failures.
Additionally, the people hired must meet the Equal Opportunity criteria, and all GUIs must be handicapped usable, as well as the facilities themselves. I could be here all evening defining additional work to be done. Oh, did I mention this will be done by next year?
Another Barone reader lists some of the resource requirements:
o System Analyst
Strong ability to work with subject matter specialist to develop systems requirements and document for the programmers.
o Technical and Subject Matter Specialists
Writers to develop Standard Operating Procedures (SOP) for the end users (How many will that be???) and SOP’s for operations.
Computers
o Will we need various types of computer equipment in order to test and migrate to production? Problem is we must likely don’t have that computer capacity in order to test followed by migration to production
o Mainframes, Desktops and other devices that I am unaware of
o Will vendors have to get involved with hardware/software packages, etc?
o LANs
Interfaces (based on the GAO report-as follows)
o IRS
o HHS
o TREASURY
o INSURANCE COMPANIES
o SSA
o STATE EXCHANGES
o CORPORATIONS
o SMALL BUSINESS
o MEDICARE
Given my chimp-like abilities with the computer, do you think they’re going to have someone you can talk to for help if you get stuck? (“Your call is valuable to us. Estimated wait time to speak to a representative is three days.”)
No one expected the implementation of Obamacare to be smooth. But this promises to be beyond disaster, a clusterfark of epic and unforgettable proportions.
If the government goes ahead and tries to maintain the October 1 deadline for the exchanges to go live, it will probably be as bad as it appears. They need to create 26 complete exchanges (the feds are partnering with 7 other states to build the systems). They need to sync up all those interfaces, including those connected to the IRS and HHS so that the consumer can get approved for subsidies. How many millions of lines of code? How complex will the applications be? We’re not even thinking about the complexity of the Medicaid expansion.
Why is the government so far behind the curve in prepping for Obamacare’s rollout? One big reason is that the 13,000 pages of regulations that are supposed to tell insurance companies what kinds of policies they can offer were just released after the election. Apparently, most of them were ready last May but the president chose not to release the bad news before he was safely re-elected.
The insurance companies couldn’t design the policies without the regulations and the IT people couldn’t create the platform without the policies. So instead of spending almost a year designing and tweaking the exchanges’ computer systems, the feds now have 149 days to get things up and running.
It’s not going to happen. Henry Chao’s famous quote about problems setting up the exchanges — “Let’s just make sure it’s not a third-world experience” — reflects the nervousness of the administration. It also points the way to some kind of delay as the kinks are worked out of the system.
Six months isn’t going to make the policies offered on the exchanges any cheaper. Nor is a delay going to make the process any easier. What was once promised to be an online experience similar to buying a plane ticket on Expedia is no doubt going to turn into something akin to Chinese water torture.
But for the present, we are stuck with it. For how long a time may very well depend on how patient the American public is with the incompetence of the government and the bewildering complexity of the exchanges.
When you stop and think about it, what the federal government is proposing to do in implementing Obamacare is absolutely breathtaking. The government is proposing to basically take over 17% of the American economy, create a massive database — yet to be built — so that insurance exchanges — yet to be designed — can give up to 62 million Americans access to individually tailored insurance plans, while coordinating among three federal agencies millions of requests for federal subsidies.
We are 149 days away from the October 1 deadline for state insurance exchanges to be up and running so that citizens can purchase plans and find out how much of a subsidy they are eligible for. The IT requirements to connect everything, have all the interfaces in place, not to mention securing the system from hackers looking to steal your personal information, are incredibly complex.
How complicated is it? Here’s a chart by Xerox (via WaPo) that should pop your eyes a bit:
Michael Barone published a letter from one of his readers, an IT professional with 35 years of experience, that lists just a few of the massive challenges facing the government:
“Wow, what can go wrong here? Let me assess this based on my years of experience in this industry. The federal government is going to build 50 exchanges, using a data hub that doesn’t exist physically and in fact, the design hasn’t been solidified, and must be accessible to a variety of data processing technologies that range from archaic to old.
Each of the 50 states have different eligibility rules, and with a significant number of states opting out, the federal government now has to learn the intricacies of each state’s Medicaid eligibility models which then scale to different applicability rules for different members of a given family. The thousands of pages of bureaucratic rules that will drive requirements haven’t been completed yet, and those requirements are needed to drive design not only for the application programs, but for the entire processing architecture. The issue of network, processor, and storage performance has to be decided, modeled and tested.
To complicate matters, the convoluted federal procurement rules for hardware and software have to be adhered to, which require mixing different hardware brands, software packages and service providers. Add to this compliance analysis to validate and re-validate trusted sources of data. All legal requirements at the local, state, and federal level have to be met by the design. And last but not least, staffing up for customer support which requires hiring, training on applications not yet designed and real world tested, the creation of support documentation, building or retrofitting facilities for these folks, setting up backup sites for the required redundancies, plus hardening the sites for natural disaster power failures.
Additionally, the people hired must meet the Equal Opportunity criteria, and all GUIs must be handicapped usable, as well as the facilities themselves. I could be here all evening defining additional work to be done. Oh, did I mention this will be done by next year?
Another Barone reader lists some of the resource requirements:
o System Analyst
Strong ability to work with subject matter specialist to develop systems requirements and document for the programmers.
o Technical and Subject Matter Specialists
Writers to develop Standard Operating Procedures (SOP) for the end users (How many will that be???) and SOP’s for operations.
Computers
o Will we need various types of computer equipment in order to test and migrate to production? Problem is we must likely don’t have that computer capacity in order to test followed by migration to production
o Mainframes, Desktops and other devices that I am unaware of
o Will vendors have to get involved with hardware/software packages, etc?
o LANs
Interfaces (based on the GAO report-as follows)
o IRS
o HHS
o TREASURY
o INSURANCE COMPANIES
o SSA
o STATE EXCHANGES
o CORPORATIONS
o SMALL BUSINESS
o MEDICARE
Given my chimp-like abilities with the computer, do you think they’re going to have someone you can talk to for help if you get stuck? (“Your call is valuable to us. Estimated wait time to speak to a representative is three days.”)
No one expected the implementation of Obamacare to be smooth. But this promises to be beyond disaster, a clusterfark of epic and unforgettable proportions.
If the government goes ahead and tries to maintain the October 1 deadline for the exchanges to go live, it will probably be as bad as it appears. They need to create 26 complete exchanges (the feds are partnering with 7 other states to build the systems). They need to sync up all those interfaces, including those connected to the IRS and HHS so that the consumer can get approved for subsidies. How many millions of lines of code? How complex will the applications be? We’re not even thinking about the complexity of the Medicaid expansion.
Why is the government so far behind the curve in prepping for Obamacare’s rollout? One big reason is that the 13,000 pages of regulations that are supposed to tell insurance companies what kinds of policies they can offer were just released after the election. Apparently, most of them were ready last May but the president chose not to release the bad news before he was safely re-elected.
The insurance companies couldn’t design the policies without the regulations and the IT people couldn’t create the platform without the policies. So instead of spending almost a year designing and tweaking the exchanges’ computer systems, the feds now have 149 days to get things up and running.
It’s not going to happen. Henry Chao’s famous quote about problems setting up the exchanges — “Let’s just make sure it’s not a third-world experience” — reflects the nervousness of the administration. It also points the way to some kind of delay as the kinks are worked out of the system.
Six months isn’t going to make the policies offered on the exchanges any cheaper. Nor is a delay going to make the process any easier. What was once promised to be an online experience similar to buying a plane ticket on Expedia is no doubt going to turn into something akin to Chinese water torture.
But for the present, we are stuck with it. For how long a time may very well depend on how patient the American public is with the incompetence of the government and the bewildering complexity of the exchanges.
Busybody
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WaPo Executives Make Millions While Paper Cuts Staff, Benefits
The publisher of the struggling Washington Post made over $2.4 million last year, and at least three other executives made over $3 million while the left-leaning newspaper slashed benefits for its employees and laid off others.
According to Securities and Exchange filings reviewed by the Washington City Paper, publisher Katharine Weymouth (pictured) earned $2,436,413 in salary and bonuses last year. Her "haul came from her $625,000 salary, a bonus of $611,413, and a $1,200,000 payment for a 2009-2012 incentive plan." She also "received a 3.5 percent raise this year, with her new salary set at $646,875." She received her raise even though The Post Co.'s share price fell three percent in 2012.
The Post has reduced benefits for its employees while dumping its Ombudsman and slashing jobs after Valentine's Day, while advancing the narrative that CEOs who do the same are villains. The paper has lost subscribers, advertisers, and its stock has gone down by three percent.
According to the City Paper, "Weymouth's uncle, Post Co. CEO and Chairman Donald Graham, made $877,724," her mother, Elizabeth "Lally" Weymouth made $300,000 in 2012 as the paper's editor-at-large, and "Laura O'Shaughnessy, Graham's daughter, made $150,000 in salary and $22,750 in bonuses in 2012 for her role as the CEO of Social Code, a company owned by the Post Co."
Those not in Weymouth's family also made millions at the Post.
According to the filings, "Senior Vice President of Finance Hal S. Jones made $3,612,562," Senior Vice President of Planning and Development Gerald M. Rosberg made $2,258,617, Senior Vice President Ann L. McDaniel made $3,226,678, and Senior Vice President and General Counsel Veronica Dillon made $3,064,015.
In addition, Dillon received perks like "financial advice and living expenses reimbursements worth $82,468."
The publisher of the struggling Washington Post made over $2.4 million last year, and at least three other executives made over $3 million while the left-leaning newspaper slashed benefits for its employees and laid off others.
According to Securities and Exchange filings reviewed by the Washington City Paper, publisher Katharine Weymouth (pictured) earned $2,436,413 in salary and bonuses last year. Her "haul came from her $625,000 salary, a bonus of $611,413, and a $1,200,000 payment for a 2009-2012 incentive plan." She also "received a 3.5 percent raise this year, with her new salary set at $646,875." She received her raise even though The Post Co.'s share price fell three percent in 2012.
The Post has reduced benefits for its employees while dumping its Ombudsman and slashing jobs after Valentine's Day, while advancing the narrative that CEOs who do the same are villains. The paper has lost subscribers, advertisers, and its stock has gone down by three percent.
According to the City Paper, "Weymouth's uncle, Post Co. CEO and Chairman Donald Graham, made $877,724," her mother, Elizabeth "Lally" Weymouth made $300,000 in 2012 as the paper's editor-at-large, and "Laura O'Shaughnessy, Graham's daughter, made $150,000 in salary and $22,750 in bonuses in 2012 for her role as the CEO of Social Code, a company owned by the Post Co."
Those not in Weymouth's family also made millions at the Post.
According to the filings, "Senior Vice President of Finance Hal S. Jones made $3,612,562," Senior Vice President of Planning and Development Gerald M. Rosberg made $2,258,617, Senior Vice President Ann L. McDaniel made $3,226,678, and Senior Vice President and General Counsel Veronica Dillon made $3,064,015.
In addition, Dillon received perks like "financial advice and living expenses reimbursements worth $82,468."
Beco
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By Chad Terhune, Los Angeles Times
March 28, 2013, 6:24 p.m.
About 5 million Californians got a first glimpse at what they might pay next year under the federal healthcare law. For many, that coverage will come with a hefty price tag.
Compared with what individual policies cost now, premiums are expected to rise an average of 30% for many middle-income residents who don't get their insurance through their employers.
mercury14
Pragmatic Metaphysician
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God damn you're ignorant. That price hike is for individual plans, ones which folks will not have to buy once exchanges are up and running in a few months. Did you just not know about exchanges? You're literally never heard of them? Your lying-ass source is pretending they don't exist and trusting that you're too much of a low-information moron to know how they apply. Seems their trust was justified.
The prices are rising largely because of the mandates on insurers to cover sick people and keep them. Those are ideas that Republican loved so much they wrote them into their Pledge to America. Now they're opposed to them and want to pretend like their Pledge never happened??? Gimme a fucking break you hypocritical cowardly douche bags.
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Beco
I'm Not Your Guru
- Joined
- Sep 12, 2002
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- 57,795
this is a huge boondoggle and you know it.......its going to get worse, how can it not?
mercury14
Pragmatic Metaphysician
- Joined
- Jul 8, 2009
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- 22,158
Your own source was just exposed as a boondoggle bro. You probably shouldn't use that word for a while.
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