President Trump

[Kings]

Today, Congress approved legislation representing the first comprehensive tax reform in a generation. The President is expected to sign the bill in the coming days.

Once tax reform is signed into law, AT&T plans to invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees ? all union-represented, non-management and front-line managers. If the President signs the bill before Christmas, employees will receive the bonus over the holidays.

?Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,? said Randall Stephenson, AT&T chairman and CEO. ?This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees.?

Since 2012, AT&T has invested more in the United States than any other public company. Every $1 billion in capital invested in the telecom industry creates about 7,000 jobs for American workers, research shows.

https://www.businesswire.com/news/home/20171220005943/en/Tax-Reform-ATT-Plans-Increase-U.S.-Capital

Boeing Co. (BA) said Wednesday it will earmark a total of $300 million on workforce-related and charitable investments, as the aerospace and defense contractor celebrated the Republican tax bill. Boeing said it was still studying the provisions of the new tax legislation (http://www.marketwatch.com/story/house-sends-republican-tax-bill-to-trump-2017-12-20), but Chief Executive Dennis Muilenburg applauded the bill, saying it will help "unleash economic energy" in the U.S. "It's the single-most important thing we can do to drive innovation, support quality jobs and accelerate capital investment in our country," Muilenburg said in a statement. The company said it would spend $100 million for workforce development, $100 mililon for 'workplace of the future' facilities and $100 million for corporate giving, such as employee gift-match programs. The stock rose 0.5% toward a record high in midday trade. It has soared 16.9% over the past three months, while the Dow Jones Industrial Average (BA) has climbed 10.5%.

https://www.morningstar.com/news/market-watch/TDJNMW_20171220385/boeing-applauds-tax-bill-with-300-million-workforcerelated-and-charitable-investment-plan.html

 

[Irvinecommuter]

Today, Congress approved legislation representing the first comprehensive tax reform in a generation. The President is expected to sign the bill in the coming days.

Once tax reform is signed into law, AT&T plans to invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees ? all union-represented, non-management and front-line managers. If the President signs the bill before Christmas, employees will receive the bonus over the holidays.

?Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,? said Randall Stephenson, AT&T chairman and CEO. ?This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees.?

Since 2012, AT&T has invested more in the United States than any other public company. Every $1 billion in capital invested in the telecom industry creates about 7,000 jobs for American workers, research shows.

https://www.businesswire.com/news/home/20171220005943/en/Tax-Reform-ATT-Plans-Increase-U.S.-Capital

Boeing Co. (BA) said Wednesday it will earmark a total of $300 million on workforce-related and charitable investments, as the aerospace and defense contractor celebrated the Republican tax bill. Boeing said it was still studying the provisions of the new tax legislation (http://www.marketwatch.com/story/house-sends-republican-tax-bill-to-trump-2017-12-20), but Chief Executive Dennis Muilenburg applauded the bill, saying it will help "unleash economic energy" in the U.S. "It's the single-most important thing we can do to drive innovation, support quality jobs and accelerate capital investment in our country," Muilenburg said in a statement. The company said it would spend $100 million for workforce development, $100 mililon for 'workplace of the future' facilities and $100 million for corporate giving, such as employee gift-match programs. The stock rose 0.5% toward a record high in midday trade. It has soared 16.9% over the past three months, while the Dow Jones Industrial Average (BA) has climbed 10.5%.

https://www.morningstar.com/news/market-watch/TDJNMW_20171220385/boeing-applauds-tax-bill-with-300-million-workforcerelated-and-charitable-investment-plan.html

Glad to hear...but let's see what happens in a month.

 

[morekaos]

Today, Congress approved legislation representing the first comprehensive tax reform in a generation. The President is expected to sign the bill in the coming days.

Once tax reform is signed into law, AT&T plans to invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees ? all union-represented, non-management and front-line managers. If the President signs the bill before Christmas, employees will receive the bonus over the holidays.

?Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,? said Randall Stephenson, AT&T chairman and CEO. ?This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees.?

Since 2012, AT&T has invested more in the United States than any other public company. Every $1 billion in capital invested in the telecom industry creates about 7,000 jobs for American workers, research shows.

https://www.businesswire.com/news/home/20171220005943/en/Tax-Reform-ATT-Plans-Increase-U.S.-Capital

OMG!! They must have had that press release loaded up and ready to go...too funny. Here are Schumers floor comments, specifically about AT&T, before the bill passed...

"We Democrats have said all along that we want to update our tax code to provide middle-class tax relief. My caucus wants to provide tax relief to small businesses ? not big corporations. They?re the ones who need money to create jobs, not the big corporations that are flush with money. Incidentally, AT&T, who?s leading the charge for this tax cut, their average tax rate over the last ten years was 8%, and they eliminated 80,000 jobs. So much for the idea that when you pay a low tax rate you?re creating jobs."

 

[sgip]

It's odd how much money the poor have, since rich people evidently wants to squeeze every ducat out of them. Math, evidently is not these peoples strong suit.

It's also odd how less confiscation has somehow become an evil "giveaway".

Speaking of evil, while I can understand people targeting ATT, why do I never hear complaints about evil Apple, evil Starbucks, or evil Girl Scouts of America (yes, they are also a corporation) all of whom are getting the same tax breaks as evil ATT. I guess some evil corporations are more evil than others when it comes to how much earned money they get to keep.

My evil .02c 

 

[fortune11]

You guys know that 200mm is pocket change small price for AT&T to pay to get that Time Warner merger that Trump DOJ is currently suing to block ,  approved  ... right ?

 

[eyephone]

You guys know that 200mm is pocket change small price for AT&T to pay to get that Time Warner merger that Trump DOJ is currently suing to block ,  approved  ... right ?

Because of CNN

 

[fortune11]

You guys know that 200mm is pocket change small price for AT&T to pay to get that Time Warner merger that Trump DOJ is currently suing to block ,  approved  ... right ?

Because of CNN

Exactly , and it is a calculated cynical move on AT&T s part. Not out of the  ?good ness of their large corporation heart ?  LOL

 

[morekaos]

Hey, Ill take $1000 bucks...thanks Tump!!

 

[Irvinecommuter]

You guys know that 200mm is pocket change small price for AT&T to pay to get that Time Warner merger that Trump DOJ is currently suing to block ,  approved  ... right ?

Because of CNN

Exactly , and it is a calculated cynical move on AT&T s part. Not out of the  ?good ness of their large corporation heart ?  LOL

Yup...they had this ready to go months before.  Can't wait for them to move those jobs out in 6 months.

 

[Kings]

Hey, Ill take $1000 bucks...thanks Tump!!

Fifth Third Bancorp unveils bonuses, minimum wage hike after tax bill passage
Fifth Third and AT&T are paying employees special bonuses after getting tax cuts under the Republican tax plan.

Fifth Third Bancorp will pay more than 13,500 employees a bonus and raise the minimum wage for its workforce to $15 after the passage of the Republican tax plan that will cut the bank's corporate tax rate.

It is the second company to announce a bonus for employees because of the tax plan. AT&T said earlier Wednesday that it would pay 200,000 U.S. employees $1,000 each and increase its capital spending budget by $1 billion.

Cincinnati-based Fifth Third, the fifteenth largest U.S. bank by asset size, said the tax cut allowed it to re-evaluate its employee pay and pass along some of the windfall. Nearly 3,000 workers will see hourly wages rise to $15. The $1,000 one-time bonus is expected to be paid by the end of this year, the bank said, assuming President Donald Trump signs the bill into law by Christmas.

Senior managers and top executives are excluded from the special payments. "It is good for our communities, employees and Fifth Third Bank," said CEO Greg Carmichael in a statement.

https://www.cnbc.com/2017/12/20/fifth-third-bancorp-unveils-bonuses-minimum-wage-hike-after-tax-bill-passage.html

Thank you, Sir! May I have another?

 

[sgip]

I think quite a few readers here might have reconsidered their political views If evil Verizon increased by interweb speed to 10,000 GB per second after the Net Neutrality vote. Alas, it hasn't happened yet. That would have been some great PR, just as these raises are - little other than PR (IMHO)

My .02c

 

[Irvinecommuter]

BTW:

AT&T?s latest announcement comes on the heels of a December 14 agreement struck between the company and the Communications Workers of America. The union agreement, if signed by January 12, will afford 21,000 CWA union member employees a 10 percent raise and a $1,000 lump sum, in addition to the special $1,000 bonus announced this week.

However, a CWA spokesperson noted in an email to ThinkProgress that AT&T executives had agreed to the special bonus only after CWA argued that its employees should be given the ?$4,000 wage increase promised by the Republican corporate tax cut.? CWA officials also reached out to CEOs at other corporations where its members work, like Verizon and American Airlines, to make their case.

?Republican leaders have promised that households would receive on average, a yearly $4,000 wage increase,? they wrote. ?They also claimed that the corporate tax plan would produce new jobs in the U.S. as companies return work from offshore.?

They added that the $1,000 bonus was ?a drop in the bucket compared to what was promised.?

https://thinkprogress.org/att-praises-tax-bill-c4bab31e1067/

 

[Irvinecommuter]

I think quite a few readers here might have reconsidered their political views If evil Verizon increased by interweb speed to 10,000 GB per second after the Net Neutrality vote. Alas, it hasn't happened yet. That would have been some great PR, just as these raises are - little other than PR (IMHO)

My .02c

Yup...this was planned all along. 

Meanwhile, AT&T and other corporations are quickly trying to eliminate labor costs all together with automation and outsourcing.
https://www.cheatsheet.com/money-career/american-companies-sent-jobs-overseas.html/?a=viewall

 

[Kings]

I think quite a few readers here might have reconsidered their political views If evil Verizon increased by interweb speed to 10,000 GB per second after the Net Neutrality vote. Alas, it hasn't happened yet. That would have been some great PR, just as these raises are - little other than PR (IMHO)

My .02c

It's all certainly PR.  Just like all these companies one-upping each other in Tesla semi pre-orders.

That's why these announcements are teed up to be announced with the legislation. However, that doesn't make the $1,000 bonus or increase to $15/hour wage less valuable to these people. 

One more for good measure.

Wells Fargo raises hourly minimum wage to $15, also to donate $400 million in 2018

Wells Fargo & Co. WFC, -0.36% said late Wednesday that it will raise its hourly minimum wage to $15 and plans to give $400 million to community and nonprofit organizations in 2018. Wells Fargo stock is flat at $60.14 after hours. The wage hike for U.S. employees is an 11% raise from $13.50, which the bank announced in 2017, the company said. San Francisco, where Wells Fargo is headquartered, recently voted to raise its minimum wage to $15 by 2018. The $400 million philanthropic effort is a 40% increase from 2017, the company said, and will include gifts to the Untied Way, Habitat for Humanity as well as several programs the bank runs to provide small businesses access to capital and people with help buying homes. A fake-accounts scandal first made public in 2016 has continued to drag on the company. Wells Fargo stock is up 9.1% this year, as the S&P 500 index SPX, -0.08% has gained 20%.

https://www.marketwatch.com/story/wells-fargo-raises-hourly-minimum-wage-to-15-also-to-donate-400-million-in-2018-2017-12-20

 

[Kings]

BTW:

AT&T?s latest announcement comes on the heels of a December 14 agreement struck between the company and the Communications Workers of America. The union agreement, if signed by January 12, will afford 21,000 CWA union member employees a 10 percent raise and a $1,000 lump sum, in addition to the special $1,000 bonus announced this week.

However, a CWA spokesperson noted in an email to ThinkProgress that AT&T executives had agreed to the special bonus only after CWA argued that its employees should be given the ?$4,000 wage increase promised by the Republican corporate tax cut.? CWA officials also reached out to CEOs at other corporations where its members work, like Verizon and American Airlines, to make their case.

?Republican leaders have promised that households would receive on average, a yearly $4,000 wage increase,? they wrote. ?They also claimed that the corporate tax plan would produce new jobs in the U.S. as companies return work from offshore.?

They added that the $1,000 bonus was ?a drop in the bucket compared to what was promised.?

https://thinkprogress.org/att-praises-tax-bill-c4bab31e1067/

$2,000...sounds like half of the $4,000 per household promised and delivered!

 

[potsticker]

I'm waiting for my company to do this too...fingers crossed. If giving employees raises and bonuses (not tied to performance) generate good PR - then great.

 

[Irvinecommuter]

BTW:

AT&T?s latest announcement comes on the heels of a December 14 agreement struck between the company and the Communications Workers of America. The union agreement, if signed by January 12, will afford 21,000 CWA union member employees a 10 percent raise and a $1,000 lump sum, in addition to the special $1,000 bonus announced this week.

However, a CWA spokesperson noted in an email to ThinkProgress that AT&T executives had agreed to the special bonus only after CWA argued that its employees should be given the ?$4,000 wage increase promised by the Republican corporate tax cut.? CWA officials also reached out to CEOs at other corporations where its members work, like Verizon and American Airlines, to make their case.

?Republican leaders have promised that households would receive on average, a yearly $4,000 wage increase,? they wrote. ?They also claimed that the corporate tax plan would produce new jobs in the U.S. as companies return work from offshore.?

They added that the $1,000 bonus was ?a drop in the bucket compared to what was promised.?

https://thinkprogress.org/att-praises-tax-bill-c4bab31e1067/

$2,000...sounds like half of the $4,000 per household promised and delivered!

Nope...$1,000 already part of the deal.  So $1,000 was the extra.

 

[Irvinecommuter]

Meanwhile:

The timing of this couldn?t be worse.  But maybe that?s not a concern for major ISPs.  Accordingly, at least three major ISPs have now announced rate hikes for 2018.

That is, January, 2018.  So customers have very little time to react, modify their plans, or even cancel their accounts.

Just this morning, Karl Bode of DSLReports caught wind of numerous increases at mega-ISP Comcast.  But that is simply the latest in a string of planned increases by the likes of Cox, Frontier, and even DirecTV and Dish Network.

In all cases, these are increases for essentially the same services, with Bode noting that American will be stuck paying ?significantly more money for the same service in the new year?.  In many cases, the changes are padded into existing bills, with most consumers failing to see the changes.

https://www.digitalmusicnews.com/2017/12/19/comcast-cox-frontier-net-neutrality/

 

[morekaos]

I don?t care if it?s only PR. I think it?s hilarious. Dems got played. >

 

[Irvinecommuter]

I don?t care if it?s only PR. I think it?s hilarious. Dems got played. >

No one got played.  Tax bill is always what is...a little money for the middle class/poor and a lot of money for the rich. 

People vote against their own interest all the time....mostly GOP voters.