Pension deficit at $34 Billion

Started Nov 17, 2012 | Discussions thread
Bill Randall
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Re: Pension deficit at $34 Billion
In reply to Wheatfield, Nov 19, 2012

Wheatfield wrote:

Bill Randall wrote:


It sound to me like some companies did not fund their retirement program each year, and perhaps waited until employees retired. In this case employees could lose their entire retirement. In this case, again, the government agency would cover the cost. Why would the government allow this situation is beyond me, and perhaps they don't, I just don't know.

This is exactly what Hostess Foods did with their employee pension fund. They raided it so that their (former) employees no longer have a pension, but they were able to afford to pay hundreds of millions to their executive team who sunk the company.

Two things that are amazing, one is that they can get away with stealing from their employees this way, more amazing that people defend these actions and blame the corporate malfeasance on the employees'

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It's the Conservatives, stupid

It's the Conservatives! Great statement. The liberals had nothing to do with it. If they did, then it would render your statement stupid.

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