Now, if the retirees get dumped, you know who gets the bill? The Taxpayers. Ever hear of the Pension Guarantee Corp.? Every time an unethical company weasels out of its pension obligations, the government--that is, the taxpayers--gets stuck with the tab.
So I guess the choice is, do we pay for an attempt to rebuild a viable GM, or do we pay for their retirees because the company didn't put enough money into the pension fund in the good years? Or do we get stuck paying for BOTH?
I don't think the retirees should have to "suck it up" just because the company didn't plan for the future properly. GM should've thought about the retirees before paying out millions in salaries and bonuses to the white-collar folks in good times and bad. Dumping the retirees off on the taxpayers is a chickens#it way out...let 'em go after Roger Smith and a few other execs and take back some of the millions in compensation THOSE folks got from GM first, before the taxpayers have to foot the bill.
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Today's Featured Article - Tractor Profile: Ferguson TO-20 - by Staff. When the infamous "Handshake Agreement" between Henry Ford and Harry Ferguson fell by the wayside (that's a story in itself), Harry Ferguson quickly set up manufacturing plants for a United States version of his English TE-20. The TO-20 was relatively the same as the TE-20 except utilized some different casting materials and had a US-style electrical system. The TO-20 was a dead ringer for the Ford 9N and 2N models and they say that Ferguson did this on purpose when the Handshake Agreement wen
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