Now for the rest of the 5 Star Story

fastfarmall

Well-known Member
As i gotten older have met one of the former Minneapolis Moline employees, at the plant in Minneapolis,in the south east part of town. The MM company was sold too the Reddig Brothers, Henry and Earl. In today"s world it would be called a hostile takeover, sure 1949 was there best year of sales, and it was going down every year. According to my friend Paul, one was married the other was not,and the 3 of them were next to Hitler, the biggest Sleeze Balls that ever lived. She would say close your eyes to pity lets steal there pension fund[[and they did] and we cant loose.Paul lost his too! Paul said that was a mistake the union made allowing the retirement fund to be a asset for Minneapolis Moline Co. So after that the Congress said we have to put a stop that, well they passed a law, but did it do any good, lets ask the Erie Mining employees, of northern Minnesota, As i remember they lost most of theirs too, when the steel mills went on hard times. Amen
 
Not MM related, but the same thing happened here in NC. Same guy who owns Dole pineapples-(The entire Dole island in Hawaii i'm told.) He found out that Cannon Mills had more money in it's pension fund than the whole business was worth. Got some 'sympathetic' banker$ ($$$) to help him buy the whole business from the Cannon family.

Then he paid the bankers back with the pension money.

Now, 20 plus years later he's bringing in doctors and scientists and so forth and getting rid of those who should be drawing their pensions. . . .
 
Reminds me of what I've heard --"that person is so crooked they'll have to screw him into the ground when he dies".
 
My mom -- one of the industrial nurses at MM also lost her pension --but I believe that there was a partial payout thru the state taking them to court -- but that was I think in 1972--- and the union was involved as well ---wish I could remember what my mom said about it as it was a topic of conversation and headache /heartache for a long time.
 

We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today.

Back
Top