Trading at valuations never seen before as the melt up in the markets continue. It will all end ugly, always does, when wall street ignores the facts, but it looks like its all going higher. No sellers means higher prices and the people driving the markets are playing with other peoples $$$ so who cares ?
Deere is crying now because it is going to have to pay tax on its subsidy (read gift) from the federal government which has been used to fund its retiree drug coverage. The subsidy covered 28% of the cost of retirees expenses. Management is making it clear to the press that this is a new expense. However, when they received the subsidy did they publicly give thanks to the government for the help in the form of subsidies? Of course not. This is Corporate Welfare at its best. It is o.k. to give to big business & but not the little guy. Plus ça change, rien change! (French)
Deere certainly has the option to just quit paying the retiree drug coverage and let those people go to Medicare. Maybe they were getting a gift fromt the government, but it was an inducement to cover these people themselves rather than remove the benefit they provide.