This is just wrong

Part of any restructuring of any or all of the three is the need to divest in the future of retired workers by providing annual pension monies and fund management during employment - all this indexed for life nonsense is killing industry in Canada and the US. I know people pulling $75K per year in pension indexed for life that put 25 years into putting bolts into Monte Carlos' in Oshawa. I need to have saved ~ $1.25MM to draw the same when I retire :headbang:

Too bad GM didn't use the Saturn business model vs. reeling it in - had a really good thing going; Cult like customer following, quality, innovative features etc. Corporate Dumb Asses at GM.
 
Caddyshk said:
Part of any restructuring of any or all of the three is the need to divest in the future of retired workers by providing annual pension monies and fund management during employment - all this indexed for life nonsense is killing industry in Canada and the US. I know people pulling $75K per year in pension indexed for life that put 25 years into putting bolts into Monte Carlos' in Oshawa. I need to have saved ~ $1.25MM to draw the same when I retire :headbang:

Too bad GM didn't use the Saturn business model vs. reeling it in - had a really good thing going; Cult like customer following, quality, innovative features etc. Corporate Dumb Asses at GM.
Click to expand...

:thumbsup: That indexed for life thing is just crazy, especially when their pay was already high on the totem pole. I knew a guy in 1976 that had worked for Ford before moving to Florida; his pay when he left after four years was 48k a year, which was about the going rate for a house if you want to put it into today's perspective.

A good friend's father is a retired NJ police sergent, also with that indexed pension. When he retired after 30 years on the force, he was making like 67k a year. Last I knew, a couple years ago, he was making $87.5k a year being retired. He already has a couple houses (NJ & Fl) and has a good bankroll.

Not saying we should take anyones pension or health insurance away, but there just common sense limits when the average Joe will never see retirement packages anywhere close to that, but is paying for the ones that had do.
 
Oh, it's even worse than that--people paid not to work--but that's for another discussion. As to bailout, no, but if they do (and they will because the UAW gives LOTS of money to the Democratic party) concessions should be a part of it-executive bonuses and union demands.
 
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