coming big uaw strike?

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11-02-23, 07:48 AM

#406

situman

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Quote:

Originally Posted by swajames

Pension plans can absolutely be sustainable. I have one from a former employer that’s fully funded because appropriate contributions were made by all stakeholders, it’s administered professionally and, importantly, the employer didn’t dip into it in years gone by claiming it was “overfunded”.

Pension funds get invested into the equity markets. It doesnt simply sit in a bank account somewhere and let inflation erode the value. Whoever managing the pension funds at your company is either really good or really lucky. When the market drops by 40% like it did during the financial crisis, generally there will be a huge shortfall in any pension plan and depending on the size of the plan and gap, a company may or may be able to afford to fund the gap. Clearly, none of the automakers were able to with the falling stock market and their sales tanked significantly.

11-02-23, 07:50 AM

#407

swajames

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Originally Posted by situman

In Japan, workers sometimes work themselves to death. No time for a family or have children. Hence the population decline. In what universe will these U.S. union workers even work a minute past their shift without crying?

So if you don’t end up killing yourself, then you’re not working hard enough. Well that’s an interesting perspective.

11-02-23, 07:53 AM

#408

situman

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Originally Posted by geko29

Or the first two sentences of "Our Approach", which discusses how they work towards their Mission and Vision statements:

Their Mission/Vision and Approach don't mention any other type of retirement solution at all. I guess the 86% of Americans that don't have a pension are bound for a life of destitution after retirement. When the only tool you have is a hammer...

In other words, the article is pension lobbying masquerading as journalism.

This article is like someone believing the Earth is flat then goes and Googles "show me proof that the Earth is flat". We can all guess what's going to come up.

11-02-23, 07:55 AM

#409

situman

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Originally Posted by swajames

So if you don’t end up killing yourself, then you’re not working hard enough. Well that’s an interesting perspective.

No one said you have to work yourself to death. I think its actually a terrible thing. Its just that someone was comparing the workers from different countries.

11-02-23, 08:07 AM

#410

geko29

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Quote:

Originally Posted by situman

How minor is minor? Anybody that runs a business or owns a business knows S&W is one of their biggest costs. So how minor is minor?

As a smaller example, the school district my dad retired from. They have $40M in annual property tax revenue, spend $4.7M on salary/benefits for current employees, and $13M on pensions and retirement benefits.

11-02-23, 11:02 AM

#411

mmarshall

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Quote:

Originally Posted by situman

So paying a retired employee to sit at home makes sense to you?

Absolutely it makes sense. IMO there is simply no substitute for pensions. Those retired workers earned it by giving 30 or 40 yeas of their life to the company....and often suffering from repetitive-motion injuries. To deny it, IMO, is thievery and immoral.

https://www.nirsonline.org/wp-conten...sionsnonss.pdf

And if it affects vehicle-prices, so be it. New vehicles have never been cheap, and never will be.

Last edited by mmarshall; 11-02-23 at 11:05 AM.