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Resource ID: #16958
Subject: Financial Investigations
Source: Wall Street Journal (New York)
Affiliation: 
Date: 25-Oct

Description

The Wall Street Journal reveals that many companies are transforming the retiree-medical programs into opportunities to bolster earnings. The journal says this was made possible by an accounting rule, which was supposed to force companies to acknowledge the huge retiree-medical liability many of them seemed to face. But many companies invoked the mammoth liabilities to explain why they had to reduce retiree benefits.

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