GM's pension plan was drawn up in the early 70's and it was assumed people would work until they were 62 and would probably be dead by the age of 67 or so. What they didn't plan on was guys retiring at 49 and living until they were 82 and their wives living until they're 92. Paying somebody $50,000 dollars in wages and benefits to not work for 30 more years after they retire is not only absurd but will eventually put a company out of business and it has. They went bankrupt.I just watched a special on GM and they talked about this very subject and how the union and GM managment realized they had created a monster after they came up with it. To show you how ridiculous it is the average GM retiree is making more money in wages and benefits here in Michigan than the average working family! We have people all over around here including my own family that are completely off the grid and making much more money than the people that are working.
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Today's Featured Article - On the Road with Dave Gohl: Deere Departed Friend - by Dave Gohl. Have you ever had to part with a dear friend? It's not easy. If it's due to death, your feelings could be in disarray for days, months or even years. Even now after almost 4 years, I still miss my dad. I remember when I was a kid my dad sometimes would tuck my brother and I in at night and we would ask him questions about his childhood on the farm. To this day, it's some of the best stories I've ever heard. And now, I'm so glad that I asked those questions, and if I were a little smarter i
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