Public Staff is among many critics who noted that the plan lacks sufficient detail, citing in testimony «
substantial uncertainty regarding what exactly will be included.»
Such risks and
uncertainties include, but are not limited to: our ability to achieve our financial, strategic and operational plans or initiatives; our ability to predict and manage medical costs and price effectively and develop and maintain good relationships with physicians, hospitals and other health care providers; the impact of modifications to our operations and processes; our ability to identify potential strategic acquisitions or transactions and realize the expected benefits of such transactions, including with respect to the Merger; the
substantial level of government regulation over our business and the potential effects of new laws or regulations or changes in existing laws or regulations; the outcome of litigation, regulatory audits, investigations, actions and / or guaranty fund assessments;
uncertainties surrounding participation in government - sponsored programs such as Medicare; the effectiveness and security of our information technology and other business systems; unfavorable industry, economic or political conditions, including foreign currency movements; acts of war, terrorism, natural disasters or pandemics; our ability to obtain shareholder or regulatory approvals required for the Merger or the requirement to accept conditions that could reduce the anticipated benefits of the Merger as a condition to obtaining regulatory approvals; a longer time than anticipated to consummate the proposed Merger; problems
regarding the successful integration of the businesses of Express Scripts and Cigna; unexpected costs
regarding the proposed Merger; diversion of management's attention from ongoing business operations and opportunities during the pendency of the Merger; potential litigation associated with the proposed Merger; the ability to retain key personnel; the availability of financing, including relating to the proposed Merger; effects on the businesses as a result of
uncertainty surrounding the proposed Merger; as well as more specific risks and
uncertainties discussed in our most recent report on Form 10 - K and subsequent reports on Forms 10 - Q and 8 - K available on the Investor Relations section of www.cigna.com as well as on Express Scripts» most recent report on Form 10 - K and subsequent reports on Forms 10 - Q and 8 - K available on the Investor Relations section of www.express-scripts.com.
Previous research has found
substantial benefits associated with commodity investments, but there remains considerable
uncertainty regarding the consistency and general applicability of those benefits for equity investors.
Given that many (not all) highly
regarded climatologists
regard the «catastrophic» case as the most likely case and that much of the research literature, including the IPCC report devotes
substantial space to quantifying the
uncertainties, I tend to conclude that the current state of knowledge
regards the risk of catastrophic climate change as significant and that the precautionary principle applies.