Puterbac News Network and Political Discussion Thread

[bluetick]

[img2]http://t3.gstatic.com/images?q=tbn:ANd9 ... jSo9PpTHKd[/img2]

There was an article in the Sunday paper about how corporations across America have defunded (or eliminated outright) pension plans for millions of rank-and-file workers the last few years. While at the same time fattening the retirement of their CEOs and top execs. The only new concept for older workers is how companies are taking out life policies on employees and naming said company as full beneficiary. It's all the rage...and perfectly legal.

It's doubtful those longhairs protesting on Wall Street and in D.C. even have (or comprehend) a pension plan. Funny, that..

[Toemeesleather]

Even funnier is the fact that the vast majority of Wall St. "donations" in the last election went to Obammer.

[Toemeesleather]

Obammer '08 top 10 contributors.

University of California $1,648,685
Goldman Sachs $1,013,091
Harvard University $864,654
Microsoft Corp $852,167
Google Inc $814,540
JPMorgan Chase & Co $808,799
Citigroup Inc $736,771
Time Warner $624,618
Sidley Austin LLP $600,298
Stanford University $595,716


McCain '08 top 10.

Merrill Lynch $375,895
JPMorgan Chase & Co $343,505
Citigroup Inc $338,202
Morgan Stanley $271,902
Goldman Sachs $240,295
US Government $202,929
AT&T Inc $201,938
Wachovia Corp $199,663
UBS AG $187,493
Credit Suisse Group $184,153

[bluetick]

Even funnier is the fact that the vast majority of Wall St. "donations" in the last election went to Obammer.

Not sure about the significance of your statement in relation to corporations efing-over their looming retirees.

And not sure about your "vast majority," either. Sez here that WS securities and investment firms gave 10 mil to Obama and 7 mil to McCain. Not sure 58% is "vast." Probably smallish, considering oprama was the frontrunner and should have been collecting the smart money bets.

[Toemeesleather]

Look, we need jobs...if no one gets "efed-over", you'd have to add tons of people from NYT, 60 Minutes, MSNBC...20/20 etc to the unemployment rolls.

[bluetick]

I know, I know. Execs who kill their employees benefits while bulking up their own are only showing the kind of initiative that their station requires. It's like the roaring 20s again - take care of the top, everybody else do the Lindy Hop.

I'm not sure how long that disconnect can go on, though. Historically real leaders have taken care of people in their charge before feathering their own nest. Or have taken the biggest hit when things go bad. 80 years ago a failed banker would have jumped out of his highrise; now he retires to Boca with his guaranteed stock options.

[Toemeesleather]

F!ing business persons gettin' more like congress every day...

[sardis]

Nooo, it's never the employee...

http://www.vanityfair.com/business/feat ... wis-201111

[puterbac]

[img2]http://t3.gstatic.com/images?q=tbn:ANd9 ... jSo9PpTHKd[/img2]

There was an article in the Sunday paper about how corporations across America have defunded (or eliminated outright) pension plans for millions of rank-and-file workers the last few years. While at the same time fattening the retirement of their CEOs and top execs. The only new concept for older workers is how companies are taking out life policies on employees and naming said company as full beneficiary. It's all the rage...and perfectly legal.

It's doubtful those longhairs protesting on Wall Street and in D.C. even have (or comprehend) a pension plan. Funny, that..

That is the problem with pension plans. You are relying on someone else who almost always bases it off unrealistic growth rates and its not really even your money.

Better to have a 401k that you do own and you control. Defined contribution not defined benefit is the way to go. It alleviates the uncertainty from corp and govt books as well.

BTW does end pension mean no 401k or did they switch from pension to 401k? BIG difference.

[Professor Tiger]

I didn't think anybody but the government offered pensions anymore.

Even the US military is considering dropping the 20 and 30 year retirement pensions in favor of a 401K-style plan:

http://www.airforcetimes.com/news/2011/ ... ul-072511/

[bluetick]

Nooo, it's never the employee...

http://www.vanityfair.com/business/feat ... wis-201111

A very different kettle of fish, Sardis - the article I referred to was strictly about private sector pensions. Businesses large and small, mostly Middle American.

And say what you will about the oderous public-employee pension systems...and many of them stink to high heaven, and are huge burdens on taxpayers - when they are finally brought under control, you can bet the pols that control them will make out alright

[Professor Tiger]

My grandfather worked for a textile mill most of his adult life. His employer - West Point Pepperell - promised a pension after 30 years of service. They fired him after 29 years and 11 months. That convinced me:

1. 401K's are WAY better than pensions.

2. Big businesses routinely screw people.

[Toemeesleather]

What year was he fired?

[bluetick]

2. Big businesses routinely screw people.

See, your anecdote just works better than some dumb old article about 30 million screwed-over pensioners. Lord knows this place thrives on a good anecdote.

Wizard - "The countergirl at McDonalds gave me a cold McMuffin and the stink-eye. And the wetback weedeating the grounds got clippings in my pants cuffs. Low wage stiffs SUCK!"

[Professor Tiger]

What year was he fired?

I don't know exactly. In the 50's I imagine. I can find out at the family reunion in November.

Amazingly, that West Point Pepperell mill is still in business. Maybe one of the lawyers around here would like to sue them on our behalf.

[Toemeesleather]

I started out a WPP in '78 in Shawmut, Ala.....and it took high crimes and misdemeanors to get fired then(especially long term ees)....or get "caught in the act"...if ya know what I mean.

[Big Orange Junky]

Again, I support ESPN/ABC's right to be bedwetting liberals and stop using Hank Jr. as the singer for MNFB. No problem with it at all even if it was twisted into something it was not. If you read the transcripts he was saying those two playing together would be like Hitler and the prime minister playing together. He didn't say Oprama was hitler, he was just showing the absurdity of those two who are so opposed to each other playing golf together.

But that doesn't matter, what matters is that ESPN has the right to fire/hire anybody they want as a private company. I could care less if they fired him for that crappy hat he had on. Doesn't matter.

I see the liberals also support ESPN in this.

Now will the liberals on here (tick, dsl, mook etc) say it's OK for Bank of America to go out and fire any employee with an Oprama bumper sticker?

What say you? Would you be as OK with them firing people over supporting Oprama as you are with them doing away with the MNFB song over what Hank said?

[Professor Tiger]

I started out a WPP in '78 in Shawmut, Ala.....and it took high crimes and misdemeanors to get fired then(especially long term ees)....or get "caught in the act"...if ya know what I mean.

You didn't have 29 years and 11 months towards a 30 year pension either.

[TheBigMook]

Again, I support ESPN/ABC's right to be bedwetting liberals and stop using Hank Jr. as the singer for MNFB. No problem with it at all even if it was twisted into something it was not. If you read the transcripts he was saying those two playing together would be like Hitler and the prime minister playing together. He didn't say Oprama was hitler, he was just showing the absurdity of those two who are so opposed to each other playing golf together.

But that doesn't matter, what matters is that ESPN has the right to fire/hire anybody they want as a private company. I could care less if they fired him for that crappy hat he had on. Doesn't matter.

I see the liberals also support ESPN in this.

Now will the liberals on here (tick, dsl, mook etc) say it's OK for Bank of America to go out and fire any employee with an Oprama bumper sticker?

What say you? Would you be as OK with them firing people over supporting Oprama as you are with them doing away with the MNFB song over what Hank said?

Comparing those situations is retarded. You sir are retarded.

I would be OK if a BoA employee went on a national "news" program drunk and or high said something retarded and got fired.

There, that is close to an equivalent situation. Retard.

[TheBigMook]

and, BTW-I would have been fine if Hank Jr. kept his gig. I would keep watching MNF.