"Don Foreman" wrote in message
...
On Mon, 9 Nov 2009 00:11:39 -0500, "Buerste"
wrote:


"Hawke" wrote in message
...
Well, the businessmen are at it again. It was reported today on
Moneytalk
that business executives are slated to receive more money in executive
compensation than they are going to spend to fund employee pensions.
This
includes executives from companies receiving bailout money from the
federal government. Many of these companies, especially the financials,
have made a lot of money this year since the stock market hit its lows
in
March. As a result a lot of executives plan to get huge bonuses, bigger
in
fact than they got last year. So as the country sees jobs go bye bye,
and
average people got a lot poorer, big shot executives are slated to rake
in
billions. Meanwhile, they are putting less money than they are going to
receive in bonuses into the pension plans for the companies' employees.
These pension plans are already underfunded by 200 billion. So there you
have it. You wonder why things are screwed up in this country? Look at
our
businesses and look at the top. You'll see why. They live like kings and
make more money than ever as the rank and file American suffers. You
have
to love capitalism. At least if you're an executive... or a republican.


Hawke

No companies should have been bailed out. The fed has no right to alter
salaries of any company that it doesn't have a stake in. Why do pension
plans deserve unearned money?

Deserve? Earned? A pension plan is a promise made by management to
employees to recruit and retain their services. When management
cavalierly breaks promises and takes bonuses while outsourcing jobs
and cutting wage-earners loose, grassroots support of more socialist
government is inevitable. Duh!


No company has a right to raid a pension fund. But, mandatory contributions
to pension funds over and above what is contracted, just because management
gets bonuses? I have a problem with that.