More and more companies reneging on pensions (AAR news)

[linazelle]

They called the '80's the "Me" decade (or was it the 90's?). While it's debatable which decade earned that title, the first decade of the new millenium is definitely the greed decade.

Corporations are paying politicians to squeeze every last cent from Americans by taking away the option of bankruptcy. Yet, they are pursuing bankruptcy at alarming rates to divest themselves of the obligation to pay pensions and health insurance to their employees. (Corporations are supercitizens I guess, they pay less taxes and get more representation, rights and benefits than American citizens).

And who benefits? The "investors".

Who ARE these people, that invest in the misery of other Americans?

The kind of greed that allows people to unconscionably steal what many Americans have worked a lifetime for is unfathomable to me.

[undeterred]

1. Its disgusting and its blatant.

We deserve so much better. But until people are affected financially in a very direct way by one of Bush's policies, they just don't see the cause and effect.

[LastLiberal in PalmSprings]

2. Tort reform follows the same route as the bankruptcy law

The GOP obsession with limiting jury awards to injured plaintiffs only applies to severely restricting the recovery of damages by actual living human beings. There is no limit on how much a corporation which sues another can recover.

[linazelle]

3. I think people should check their 401Ks and any other investments

and be sure they are giving money to companies who are planning to renege on pensions. I'd bet many don't even know they are supporting their own demise.