Companies assess (or at least guess) impact of new Obama Administration…
Even before Tuesday’s election results, companies began contemplating what the change in Administration would mean for them. But now that the results have come in (for the most part, anyway, since there’s still 9 House and Senate seats in limbo), companies are beginning to spell out their concerns as well as their hopes and dreams in the filings. Here’s a few that we’ve caught over the past few days:
From the Genoptix (GXDX) 10Q filed yesterday : “In addition, as a result of the focus on healthcare reform in connection with the 2008 Presidential election, there is risk that Congress may implement changes in laws and regulations governing healthcare service providers, including measures to control costs or reductions in reimbursement levels, which may have an adverse impact on our business. We also believe that healthcare professionals, including hem/oncs, will not use our services if third party payors do not provide adequate coverage and reimbursement for them.”
From URS Corp.’s (URS) 10Q filed yesterday: “With the recent outcome of the 2008 U.S. presidential election, we do not expect that the new Administration will make any immediate changes to overall DOD and DOE spending, however, there may be a longer-term shift in priorities within the defense budget. based on the outcome of the election. Additional information will be available when the new Administration submits its 2009 supplemental funding request and baseline budget for fiscal 2010.”
Tiny Ada-Es (ADES), which says it is a leader in clean-coal technology issued this press release yesterday which talked about business potential: “Additionally, the President-elect supports clean coal. We expect the new administration and Congress to act in 2009 to provide multi-pollutant federal regulations that include mercury emission control and a substantial increase in funding for carbon capture technology which would further enhance our market opportunities.”
And, just this morning Cadence Pharmaceuticals (CADX) said in this 10Q that “It is also possible that other legislative proposals will be adopted, particularly in view of the 2008 presidential and congressional elections and the potential agenda of any new administration.”
We’ll continue to keep a close eye on how different companies are viewing the results of the election.
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Posted in Tags: 10Qs, 8Ks, Congress |
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November 7th, 2008 at 12:29 pm
Morning Perspective
Powered by Minyanville: $700 Billion Flop?
According to the Wall Street Journal, a survey of more than 400 firms by the Securities Industry and Financial Markets Association shows that financial companies are hesitant to participate in the Treasury’s $700 billion bailout plan because of a lack of clarity. Originally, the department said it would purchase troubled assets within weeks of receiving Congressional approval. But the department has since been focusing on a separate program: The investment of $250 billion in the banking sector. Nine in 10 expressed an unwillingness to participate in the so-called Troubled Asset Relief Program (TARP), while approximately the same number spoke of their reluctance should the Treasury require warrants in return for taking on toxic assets.
Full article
http://www.minyanville.com/articles/GE-gm-AZO-iwm-financials/index/a/19897/from/ameritrade
November 9th, 2008 at 6:42 pm
Sorry folks, but based on the latest blow-out and the total inability of the financial industry to police itself, and the unbelievable naivete of Greenspan, business has shot to hell it’s freewheeling ways. And even for this capitalist (myself), the destruction of the middle class for the sake of the profit machine has been toxic. We can expect a new ideology on the relationship between business and government. It will not only imply that business is going to have to be more responsible, but that business is going to have to support infrastructure payments over the coming years. Otherwise, business will go down the tubes along with the good old USA. All the old ideologies are up for grabs, and some kind of new synthesis is in the wings. And, yes, it will be a pilot program, too.