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Caterpillar: HCB will cost company $100 million

Posted: Mar 19, 2010

See link below, and this: A letter Thursday to President Barack Obama and members of Congress signed by more than 130 economists predicted the legislation would discourage companies from hiring more workers and would cause reduced hours and wages for those already employed. The letter isn't astonishing. What's astonishing is that anyone had to write it.;

In Jan 2009, Caterpillar's net worth was 7,100,000,000. - If the 100 million figure is accurate...

[ In Reply To ..]
that means that the cost of insuring their workforce is 1.4% of their net worth. They employ approximately 100,000 people. That would mean they are going to spend $1000 per year on average per employee, or $83 per month. Makes one wonder how much of the premium the employees are going to pick up.

Whatever the case, Caterpillar can afford this and the $1000 per year for each employee sounds like a real bargain to me.

Suggest you take a course in financial accounting. - truthinadvertising

[ In Reply To ..]
You can't create financial ratios using non-annualized balance sheet items like net worth and periodic income statement items like expenses. Trying to do this doesn't make any logical sense in terms of corporate finance - you're comparing apples to teakettles.

You could create a ratio comparing income from operations to operating expenses, provided you use figures from the same period for both.

Net worth does not have a "period" associated with it except in the sense that it is recalculated at the end of the period after the adjustments have been made and the periodic accounts have been closed out. Expenses, such as we're talking about here, are associated with a particular operating period, while a company's net worth - which represents the sum total of all of its assets minus its liabilities (or debts, which are not expenses), plus retained earnings (which is not income) - is not associated with any given period. Hence, you can't talk about a periodic item like expenses in comparison with a company's total net worth. It cannot, for instance, sell its plant to pay insurance premiums. It can only meet insurance premiums out of operating income.

This would be like figuring what percentage of your home's value that you're spending every month on chewing gum - say, to figure out if you can afford an increase in the price of gum. There's no way to make any sense out of such a comparison. But you could compare what percentage of your monthly income you're spending on gum and on that basis you could figure out the affordability of gum.

Suggest you take a course in the humanities...any one of them - would do. nm

[ In Reply To ..]
nm

Bah-loney. If they cant afford to insure their employees, - then let them collect their marbles and go home.

[ In Reply To ..]
This is the same Caterpillar who lays off workers when profits get below double digits. Reigning in corporate greed isnt going to be pretty, but it is going to get done....and long overdue, I must say.

So you think they should close down? Are you insane? - Anon

[ In Reply To ..]
You're a progressive, so it's a rhetorical question....

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