Was gone for a few days thanks to a nasty virus...but starting to make a come back....
I remember what happened to Bethlehem Steel, and I've seen other workers loose most or all of their pensions thru no fault of their own. I suppose some will try to use this as an argument for private accounts, but if there is no guarantee placed on the private accounts the end result could be the same scenario.
This should be a huge media story.....
United Airlines, which is operating in bankruptcy protection, received court permission yesterday to terminate its four employee pension plans, setting off the largest pension default in the three decades that the government has guaranteed pensions.
Some retirees could see sharply lower pension payments as a result; others will see little change in benefits, depending on a variety of factors. Some retirees at US Airways, which has terminated its plans, have seen benefits drop by as much as 50 percent.
If these companies continue to default the Pension Benefit Guaranty Corporation, is going to have a crisis of it's own, not to mention the fact that for some retirees having their pension drop 50 percent is going to hurt....badly.....
skip to main |
skip to sidebar
The Details...
Financial resources & Fun!
Financial Resources:
Corporate Recovery
With a shaky stock market, now's a great time to invest in diamonds.
Fun!
Yard Signs Cheap
Yard Signs Cheap
Corporate Recovery
With a shaky stock market, now's a great time to invest in diamonds.
Fun!
Yard Signs Cheap
Yard Signs Cheap
Regular Reads
History Mike's Musings
Toledo Tales
Hooda Thunkit
Aaron's Blog
Along the Tracks
The Glitch
Roland's Ramblings
Judy's Jewels
I think about by Valbee
Toledo Speaks Out
Maggie Thurber's Thoughts
Color Orange Art
The Yippie Show
Progressive Toledo
Thoughts on TPS
Shanahan Select
Make A Difference
Toledo Perspectives
Toledo Tales
Hooda Thunkit
Aaron's Blog
Along the Tracks
The Glitch
Roland's Ramblings
Judy's Jewels
I think about by Valbee
Toledo Speaks Out
Maggie Thurber's Thoughts
Color Orange Art
The Yippie Show
Progressive Toledo
Thoughts on TPS
Shanahan Select
Make A Difference
Toledo Perspectives
Blog Archive
...
...
Thank you!
Thanks for visiting Liberal Common Sense...
3 comments:
Here in San Francisco - where a LOT of United Employees are based, and where a LOT of former employees live - this is a huge story. There are a alot of people that are looking at a substantial income cut because of the court's decision.
Aaron took me to task on Robot for calling it criminal - and it's not in the legal sense, but I'm standing by my guns - it's absolutely criminal in the moral sense of the word.
I really think this is a great example of why the personal accounts that GWB is proposing are such a great idea. Why depend on a company (especially one in such a difficult market) when YOU can control your money.
Social Security - We truly need to fix it and Bush is leading the way. Do you know that most federal employees have their own private accounts that they can invest in like the ones Bush is proposing for every American as an option yet Democrats oppose it. Do you know that the teachers unions who oppose this plan also have their own private accounts? Yet they oppose every American having that option. Can you tell me why having the ability to invest some of YOUR OWN MONEY in the market instead of turning it all over to politicians in Washington to spend on their favorite pork projects is a bad idea? Can you tell me why average Americans having MORE money at retirement is a bad idea? Can you tell me why Americans having some of their OWN MONEY to leave to their spouses or children instead of just giving it to Washington politicians is a bad idea? Why do you think Democrats oppose Bush on fixing SS? In my humble opinion they want to keep the issue alive so solving the problem would hurt them politically. They have offered no solutions so far and have only tried to stop Bush from fixing the problem. It seems that they DO NOT want more Americans keeping more of their own money because that would make them less dependent on government. This makes me sick and angry that people elected to the government are not acting in the best interest of the people but in the best interest of their party.
Post a Comment