Alaska Darin Posted June 13, 2005 Posted June 13, 2005 People have to be crazy to think ANY employer is going to pay ONE employee $100K+ a year not to work, much less a whole slew of them. To all of you out there: PLEASE fund your Roth IRA fully every year (and your 401K if you can). Don't depend on employer stock, a pension, or Social Security for you retirement. You're going to be sorely disappointed. And don't wait until you're older to start - your costing yourself 100s of thousands of dollars with that thinking.
Crap Throwing Monkey Posted June 13, 2005 Posted June 13, 2005 Linky 356722[/snapback] The most surprising thing to me was that an American company is still offering pensions. My father was one of the last to get a pension from IBM before they completely phased it out. That was in 1999...the phase-out had started at least five (and probably more like ten) years earlier. So where was all this moral outrage 10-15 years ago, when the pension system actually started to be phased out of American corporate and labor culture?
Pine Barrens Mafia Posted June 13, 2005 Posted June 13, 2005 The most surprising thing to me was that an American company is still offering pensions. My father was one of the last to get a pension from IBM before they completely phased it out. That was in 1999...the phase-out had started at least five (and probably more like ten) years earlier. So where was all this moral outrage 10-15 years ago, when the pension system actually started to be phased out of American corporate and labor culture? 356788[/snapback] I actually have a pension here. But I'm not stupid enough to think it will be there when I retire.
Kevbeau Posted June 13, 2005 Posted June 13, 2005 I actually have a pension here. But I'm not stupid enough to think it will be there when I retire. 356789[/snapback] Coca-Cola still has a pension plan. However, I'm expecting a buyout sometime in the near future. I would expect them to just cancel or phase it out, however I don't think their employee relations can withstand another hit like that.
Gavin in Va Beach Posted June 13, 2005 Posted June 13, 2005 Last week, United Chief Executive Officer Glenn Tilton testified to the Senate Finance Committee about $4.5 million he is receiving from United to replace benefits he had accrued over a 32-year career at Texaco, his previous employer. Tilton said that the default will not affect the payment, and that he has $1.5 million left to collect. He said this does not represent a double standard because United promised him the money in his contract. "He is saying, 'United guaranteed that to me,' " said retired pilot John D. Clark of Charlottesville, who flew United planes for 36 years out of Dulles and whose $125,000 annual pension is to be reduced by more than 70 percent. "Why is the promise made to him understandable, and the one made to me can go by the wayside?" Phew. I was worried that the top execs might lose out on their millions. Glad to see they are still being taken care of...
Alaska Darin Posted June 13, 2005 Posted June 13, 2005 Phew. I was worried that the top execs might lose out on their millions. Glad to see they are still being taken care of... 356853[/snapback] Top execs get more money because they're better people.
Gavin in Va Beach Posted June 13, 2005 Posted June 13, 2005 Top execs get more money because they're better people. 356858[/snapback] And sitting in those meetings all day long, even the ones that take place at the golf course, is hard damn work. I'm surprised more execs aren't trying to unionize for better working conditions...
VABills Posted June 13, 2005 Posted June 13, 2005 And sitting in those meetings all day long, even the ones that take place at the golf course, is hard damn work. I'm surprised more execs aren't trying to unionize for better working conditions... 356862[/snapback] Of course they make more. They also pay the fines and go to jail when they !@#$ up. Rewarded for taking the chances and penalized when they miss. I don't see the company mailclerk or receptionist going to jail, when the CEO screws up. Nor do I see them paying multi-million dollar penalties to stock holders when they take extreeme risks.
Alaska Darin Posted June 13, 2005 Posted June 13, 2005 And sitting in those meetings all day long, even the ones that take place at the golf course, is hard damn work. I'm surprised more execs aren't trying to unionize for better working conditions... 356862[/snapback] Probably best not to give them ideas.
Recommended Posts