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View Diary: Middle Class Dies Twice in Detroit (63 comments)

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  •  This, among other things, is how companies keep (8+ / 0-)

    fucking the people whom they are contractually obligated to.

    They need money?  They raid the pension plan.

    They don't have enough cash to pay into the pension plan as planned so that later on there will be enough to pay the pensions, because they want to give massive bonuses to their executives?  That's find, just skip the payments.

    Then, later, once a bunch of people have retired, the pension plan suddenly doesn't have enough cash to pay out the planned payments, and the company doesn't want to fuck up their profit margin, so they declare bankruptcy and fuck the people who were promised these benefits.

    •  Yep. Exactly. (3+ / 0-)
      Recommended by:
      ladybug53, OooSillyMe, Paul Ferguson

      The people running the companies don't care about the pensioners.

      "Stupid just can't keep its mouth shut." -- SweetAuntFanny's grandmother.

      by Dbug on Tue Jul 30, 2013 at 10:26:22 PM PDT

      [ Parent ]

      •  Why would they? (1+ / 0-)
        Recommended by:

        They don't bring in any profit.

        Public corporations are sociopaths, every single one of them.  They're legally required to act in such a way.  Profits must be maximized!  

        Many if not most of the private ones are not much better.

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