Pension Deficit Disorder
Just type in "pension deficit" to google search this blog... and you will see our previous natterings on the subject.
The subject being, those who survived ground zero, and those who survive the fall out...
will be faced with the horror of no social security and massive failure of our private pension system.
Today... The Committee on Investment of Employee Benefit Assets is kicking off a lobbying effort to...
delay provisions of the Pension Protection Act that it says will force companies to drain cash flow to comply with funding rules set to take effect next year.
FedEx Corp. CFO Alan B. Graf Jr.: "While we support the Pension Protection Act and improved funding for corporate pension plans,
we are very concerned about the immediate impact to the overall economy if massive cash contributions are required due to the recent stock market declines.
In the current liquidity crisis, that money would be better used to support immediate working capital needs, make capital investments and protect American jobs.
The Nattering One muses... Ah yes, you can pay me now, or never pay me... the law will require real money to be put aside for pensions...
draining much needed cash from operations at a critical juncture. Depleting cash, forcing cost management and reducing profits.
Our message to all the CEO's, muckety muck executives, board of directors and little MBA pricks that are whining...
too fffing bad, quit your bitching and learn how to live within your budgets without reducing headcount.
Lead by example and reduce your salaries and bonuses, you must give to get...
Forget what the shitheads in business school brainwashed you with, learn how to really run your companies and make a better mouse trap...
rather than duffing on the back nine, roll up your sleeves, and work an honest day in the trenches where the rubber meets the road...
and HONOR YOUR COMMITMENT'S with labor, do not leave the funding in deficit with worthless IOU's as you attempt to skate out the door...
lest you receive a less than friendly home visit from some distraught employees and get what you really deserve.
The subject being, those who survived ground zero, and those who survive the fall out...
will be faced with the horror of no social security and massive failure of our private pension system.
Today... The Committee on Investment of Employee Benefit Assets is kicking off a lobbying effort to...
delay provisions of the Pension Protection Act that it says will force companies to drain cash flow to comply with funding rules set to take effect next year.
FedEx Corp. CFO Alan B. Graf Jr.: "While we support the Pension Protection Act and improved funding for corporate pension plans,
we are very concerned about the immediate impact to the overall economy if massive cash contributions are required due to the recent stock market declines.
In the current liquidity crisis, that money would be better used to support immediate working capital needs, make capital investments and protect American jobs.
The Nattering One muses... Ah yes, you can pay me now, or never pay me... the law will require real money to be put aside for pensions...
draining much needed cash from operations at a critical juncture. Depleting cash, forcing cost management and reducing profits.
Our message to all the CEO's, muckety muck executives, board of directors and little MBA pricks that are whining...
too fffing bad, quit your bitching and learn how to live within your budgets without reducing headcount.
Lead by example and reduce your salaries and bonuses, you must give to get...
Forget what the shitheads in business school brainwashed you with, learn how to really run your companies and make a better mouse trap...
rather than duffing on the back nine, roll up your sleeves, and work an honest day in the trenches where the rubber meets the road...
and HONOR YOUR COMMITMENT'S with labor, do not leave the funding in deficit with worthless IOU's as you attempt to skate out the door...
lest you receive a less than friendly home visit from some distraught employees and get what you really deserve.
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