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Keyword: economicbetrayal

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  • As Workers' Pensions Wither, Those for Executives Flourish

    06/24/2006 10:28:20 AM PDT · by Tolerance Sucks Rocks · 92 replies · 1,387+ views
    Wall Street Journal ^ | June 23, 2006 | Ellen E. Schultz and Theo Francis
    This is the pension squeeze companies aren't talking about: Even as many reduce, freeze or eliminate pensions for workers -- complaining of the costs -- their executives are building up ever-bigger pensions, causing the companies' financial obligations for them to balloon. Companies disclose little about any of this. But a Wall Street Journal analysis of corporate filings reveals that executive benefits are playing a large and hidden role in the declining health of America's pensions. Among the findings: • Boosted by surging pay and rich formulas, executive pension obligations exceed $1 billion at some companies. Besides GM, they include General...