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94 comments on DrumBeat: March 1, 2007

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kgmqt on March 1, 2007 - 5:51pm Permalink | Subthread | Parent | Comments top

This is the same problem with the airline industry. In a lot of ways both of these markets would be better served if some of the existing players did go bankrupt, and just closed down. This would allow for the other companies to buy up the resources (plants, planes, etc) without the pension plans. If there are mergers you get all of the pensions along with the resources.

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ggg71 on March 1, 2007 - 5:56pm Permalink | Subthread | Parent | Comments top

While what you say is very true, you villanize the pension plan. There's nothing inherently wrong with pension plans - they just have to be properly funded along the way. You can't let the corporations continue to underfund their obligations.

Congress needs to step in and protect people's pensions. As it is, anyone who retired in the 60's (best case they are what 90+ years old?) has gotten their shirts handed to them in terms of inflation.

Garth

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94 comments on DrumBeat: March 1, 2007

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