book details how corporations plunder pension funds...

[mrplunkey]

swack!!!

At least you are consistent...

 

[redsamurai]

At least you are consistent...

and you got off the phone with your old GE buddies and they told you to drop it didn't they? yeah.....there's a reason they spent 10's of millions of dollars on congress to get those loopholes instead of lobbying to get out from under those programs all together.

 

[mrplunkey]

and you got off the phone with your old GE buddies and they told you to drop it didn't they? yeah.....there's a reason they spent 10's of millions of dollars on congress to get those loopholes instead of lobbying to get out from under those programs all together.

Pssst... GE is closing its pension plans for all new employees.

My "old GE buddies" have been trying to kill pensions and switch to 401(k)s for all new employees since well before I got there in 2002.

Jeff announced the end of the defined benefits program for all new employees at a December 2010 investor's briefing.

GE’s Bogus Reason for Ending Its Pension Plan - Working In These Times

So ask yourself... why would they end such a secretively lucrative plan?

 

[redsamurai]

because they saw that gravy train being closed that's why. They're smart, they get off the wagon now maybe they don't take as heavy a shot. According to the book i linked they've been doing this for a very very very long time Plunk...so ending it now because the practice is starting to be exposed doesn't exactly impress me.