🚀 go-pugleaf

Ian D wrote:
> "Ice Age" <ice_age_10000@yahoo.com> wrote in message 
> news:4a28064d$0$23751$9a566e8b@news.aliant.net...
>> Ian D wrote:
>>> The auto workers paid nothing into their pension plans.
>>> It was 100% covered by the employer.  The reason for
>>> the shortfalls is that, over the years, the employers were
>>> allowed to skip payments into the plans, and to make
>>> lower than mandated contributions.  This is why the plans
>>> are underfunded.  In the days of healthy profits the
>>> employers could cover any shortfalls.  If the proper
>>> payments had always been made, the pension plans
>>> would now be self sustaining.
>>     And this is the worker's fault because?
>>
>> Ice!
> 
> I never said it was the workers' fault.  Actually it was
> government's fault for letting the employers short
> change the pension plans.  The Ontario government
> is now on the hook to make up the shortfall by an
> amount of up to $1000 per month per retiree.  I was
> responding to your statement that the workers paid
> into the pension plans.  If it was any group other than
> the CAW you would be correct.  The CAW won 100%
> employer paid pension contributions way back when
> the car companies were rolling in dough. 
> 
> 

     OK, through some agreement between the government and GM during the 
productive years, the company would fully fund the auto worker's portion 
of the premiums.  A great deal for the auto workers, and a coup for the 
union.  Still, it's a CLOSED SHOP (a concept I despise, by the way) and 
the auto workers had to belong to the union and abide by their contract 
if they wanted to work there.

     The company went belly up because of poor management.  The 
governments of Canada, Ontario and the USA pumped in billions prior to 
them going under.  Company executives take off (retire, resign, are 
fired, whatever) and take millions in legally contracted severance pay 
with them.

     The retired auto workers are told: "No more money for pensions or 
health care for you."

     I don't want my tax dollars going to GM at all, but governments 
wiser than I decided to give it to them anyhow.  If it was going to go 
to go to GM, it should have been partially used to ensure the pensions 
and health plans were maintained.  Jack will back me up on this one in 
his typically way because he and I think alike when it comes to 
government handouts.  Don't argue with Jack or he'll quote you George 
Carlin.

Ice!