Posted on 04/07/2013 7:59:37 AM PDT by markomalley
Why am I not crying any tears over these union thugs problems ?
It's the law.
Why would a company go for this in the first place? Who knows what the viability of the other companies is? This is insanity.
On the other hand, Obama will use a stimulus to bail them out (just like GM).
You probably should be as you and I will end up shoring these plans up.
I think UPS has been trying to get away from these Teamster pension funds for years.
That cannot be right, I recall Hoffa saying that the loans to the gangsters to build a string of casinos in Las Vegas in the 60s were money makers for the fund and not one dime was lost. Perhaps when they were lending to the mobs they made money but when they began buying off politicians they did not get any return on their dollars??
The teamsters supported Obama, now let them live with the consequences.
Pension fund shortfalls, increasing number of bankrupt cities, student loan deliquincies and defaults, ballooning federal deficit and debt, and massive unemployment. The financial crises are building serious momentum. Can a game changing event be that far away? Buckle up.
Given that the Teamsters have killed so many trucking companies the pension sharing plan shows foresight. Although it does beg the question of; did they plan to kill off companies?
That stated, I think after they killed off CF they realized that they have to start to work with companies more. When the recession hit YRC (aka Yellow Brick Roadway)took first a 10% cut, then a 5% cut shortly after to keep the company afloat. I think they finally started to get some back recently. I’m not sure if they are funding the pension again yet.
In contrast at my non-union trucking company we took a 5% cut, got 1/2 back the next year and the other half back the year after that. And no, YRC was not making more than we were.
Don’t hold back from crying just yet... Union goons prop up liberal elites - that bunch will find a way to take YOUR taxpayer money and bail out the union crooks.
What’s the big deal? Just have the union raise their dues on their members.
Mark
We NEED a bankruptcy of a major state or union pension fund, and the ensuing political debate, to spotlight changes to entitlements and Gov’t union corruption that must be made
Its a Rahm Emanual “don’t let a crisis go to waste” opportunity for conservatives. Let’s hope it happens soon.
couple things,
If it’s bad for unions it’s good for America.
I don’t give a rats patootie if unions have problems.
You understand the system well.
Well, since the billionbs which have been stolen from the funds to keep getting democrips elected and fund ‘community activism’ groups, what would we expect from criminals but to raid the tax coffers to repay their funds for future use?
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