by Denny » Sat 30 Jul 2005, 10:52:56
$this->bbcode_second_pass_quote('Roy', '
')
Of course, those top strategists will provide themselves with golden parachutes regardless of the outcome for the rank and file workers.
Another classic american idea: Me first, f**k you.
I hate to agree wiht you,m but we can see the executive greed all around.
Take the example of United Airlines. The executive there have declared chapter 11 and have lowered their pension fund commitments. In effect, financing on the back of their retirees. Disgusting. These retirees, many of them, have no alternative income potential.
But, the sad story happened because the government allowed United to defer so many payments to its pension fund in the first place.
Meanwhile the executives continued to live off the fat of the land, and have even declared performance bonuses for themselves in the past three years while they did not meet their pension funding commitments. Hey, bozos, if you can't meet your financial commmitments, then what right have you to a "performance" bonus?
It seems like corporate Amrica has returned to the robber baron days, and they have been allowed to get away with far too much of it.
Now, I see similar with GM and Ford. Trying to claw back money from retirees. Why not just stick to negotiating with the active employees? And, just why did they agree to pay retiree health costs in the first place, as that sems like such an open ended commitment. I understand that GM is now paying for health costs for over one million Americans, most of whom are no longer employed there. It seesm a peculairity that American companies pay for supplementary health plans for retirees. It is not the norm here in Canada, for instance.