Skip to main content

Paper printed with
Remember way back during the housing crisis when homeowners were being foreclosed on left and right and Republicans refused to lift a finger to help them? Those on the right said things like "A contract is a contract."

Of course if you are a large company it is a totally different story.

Eastman Kodak Co said on Wednesday it was ending retiree healthcare and survivor benefits at the end of the year, allowing it to resolve a $1.2 billion liability, one of its biggest obligations.

The benefits, which include medical, dental, life insurance and survivor income benefits, will end December 31.

To make matter worse, the bankruptcy judge approved payouts to Kodak executives as a part of the proceedings in excess $8.8 million in cash and deferred stock for 15 key management employees.

Kodak, which bumbled its way into the digital photography age, is going to pay the executives that doomed the company to bankruptcy $8.8 million; however, the people who worked for Kodak and have since retired are losing their health benefits. In many cases these people are on a fixed income ... just how in the hell do you make up for something like this being taken away? Why is it that the executives get taken care of while the workers get screwed over? Isn't a contract a contract?

It seems as if it is never okay to break a contract if it benefits an individual; however, if it benefits a corporation or the 1 percent it is perfectly okay.

Originally posted to Daily Kos Labor on Thu Oct 11, 2012 at 11:11 AM PDT.

Also republished by Badger State Progressive and ClassWarfare Newsletter: WallStreet VS Working Class Global Occupy movement.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site