[Daus]

This is another case of the current union members screwing the retired members.

The benefit programs just got richer and richer while the industry got sicker and sicker. Heck, I've read that the current Union leadership ever supported this purchase (to once again save thier own short-term hide, at the expense of the retired).

I am somewhat familiar with the particulars of this case, and at the end of the day the health care/pension liabilities of Beth Steel were twice the current market cap of the company as a whole. That's called a death spiral. They could have not sold and just shut the whole place down, but then what good would have that done?

[A Patriot Son]

Please read my replies # 79 mand 97 for the root of the problems.

[cherry]

"This is another case of the current union members screwing the retired members."

in my husbands case..it was the older guys screwing the newer and younger guys....

its about a union being so lacking in vision that it got early retirements for some and penalized everyone else...for a $900 turnaround per month for early retiree and worker....

none of that ever was rectified...

of course, company dangled that early retirment out just to get enough votes to decimate the pay and benefits of all the rest, and said union just went along with it...

that was years ago...now its bankruptcy, and Pension board and forget about any health benefits...

jobs gone....plant almost gone...

and by the way...the ones that are getting screwed the most are the loyal COMPANY salaried workers....they have no union to at least speak for them ...

between big corporations...and the big unions...I don't know who to blame but each of them has destroyed a big slice of the American pie...