Friday, February 29, 2008
CHICAGO (Reuters) - Chief executives from the U.S. manufacturing and transportation sectors say something must be done about soaring health-care costs but doubt the ability of Washington to come up with meaningful, bipartisan reform. "There is a lot of work that needs to be done on the part of the politicians to rein in some of these costs," Lincoln Electric Holdings Inc ( CEO John Stropki said at the Reuters Manufacturing Summit in Chicago this week, adding: "I have very little confidence in Washington." In some cases, U.S. companies say they are focusing on "wellness" programs to cut health-care costs, including encouraging employees to eat well, exercise and quit smoking. U.S. health-care costs have seen double-digit increases for much of the past decade and are set to keep on rising. "Something eventually has to give there," said Wick Moorman, CEO of U.S. railroad Norfolk Southern Corp "This is a critical issue that is confronting our economy."
Source: Reuters, http://www.reuters.com/article/Manufacturing08/idUSN2859337320080228