Harry,
I thought it was Unions who mismanaged the pension funds, giving
questionable loans to the mob. It has been suggested by many that the union
leaders personally profited from these questionable loans.


"Harry Krause" wrote in message
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Bill McKee wrote:
"Harry Krause" wrote in message
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Dan J.S. wrote:
"Harry Krause" wrote in message
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Dan J.S. wrote:


Knowing that 2-3 grand from each vehicle is made to pay for some
employee retirement plan is enough for me to say screw that! I would
rather if that 2-3 grand was spent in making the truck not fall apart
after 5 years.
You're opposed to employee retirement plans?
The ones GM gives up to its unions, driving the U.S. automobile
industry in the gutter - yes I am.

Other than that, I am not.
The retirement plans are the result of collective bargaining, and for
the most part represent hourly earnings the employees could have seen as
gross income in their paychecks had they so chose. GM isn't giving the
employees anything; the employees decided that they wanted a percentage
of their income going towards retirement.

Many US corporations have unfunded pension liability problems. *THAT* is
the fault of management and greedy stockholders.

If the US auto industry is in the gutter, it isn't because of its
unionized employees; it is because of bad, shortsighted management.


Auto union over compensated pensions are because of shortsighted
management.



Overcompensated pension? You mean a worker who spends most of his
productive life toiling in a factory shouldn't be able to retire with a
decent pension?

Worker pension plans are the largest source of capital in the world. Too
bad so many corporations mismanage them.