Which side are you on?
United Air Wins Right to Default on Its Employee Pension Plans. OK now I get it, declaring bankruptcy is still OK so long as you can screw thousands of workers who have sweated out their lifeblood for your benefit. Ah yes, I remember the good old days of the social contract, when rights came with responsibilities and vice versa. Now, we're gradually decending to subzero: no responsibilities, therefore no rights. Thanks for your time. Fend for yourself.
I hope the inevitable strike brings the company down, really. This cannot stand.
posted by Mark D. @ 10:39 PM |
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5 Comments:
Of course United Airlines gets to declare bankruptcy and slough off its obligations, but when the poor schmuck whose pension has just vanished declares bankruptcy, that person will not enjoy a similar fresh start under the bankruptcy act recently signed into law.
And remember, it was Norm Coleman who voted against protections for pensioners whose employers screw them by renegging on pension obligations. I hope all those NWA employees watch this one, because it's just waiting in the wings here in Minnesota.
What's to worry about?
Isn't social security going to take care of everyone?
Seriously. If only those employee's had kept that investment themselves and had their own retirement accounts there'd be no problem.
Why is it so hard to see that putting your financial future in the hands of anyone other than yourself, be it union, government or employer is no way to assure results.
Support individual retirement accounts. How much more evidence do you need?
-Censored
Gee, Censored, because we all know how much better individuals do at investing and saving their own money.
Wouldn't matter, Censored, because when the old farts can't pay their medical bills, their employers burn through the pension funds, and the old folks declare bankruptcy, their creditors will just sieze the assets in the private investment account to pay their debts.
Either way you slice it, Censored, that old, smelly, cabbage-cookin', mumbling jerk of a mother in law of yours is gonna land on your doorstep with her suitcase and bedpan in hand.
MNObserver
You're making my point. All your ponzi schemes private or public are failing. Let people take care of themselves.
You do illustrate a key difference between our perspectives though. I view my mother in law as her own and my problem, to be solved with the rest of my family.
Your comments would indicate that see her as the state's problem.
-Censored
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