Posted on 07/26/2023 5:17:11 PM PDT by george76
How do all the assets of a pension fund disappear when a company files for bankruptcy?
They don’t. They get administered by a govt agency called the Pension Benefit Guarantee Corp.
That was true many decades ago...
Old news...
Unions have already, intentionally, helped turn America into a banana republic.
Don’t worry. soon a whole lot of Bidens Illegal Aliens will be doing the job for half price.
I’ll bet their ESG scores were good.
Well that is what I thought.
As someone who has been in the industry for 30 years, this had been a LOOOOOONG time coming. With their continually being bailed out by FedGov, my company even had quite a bit invested in their operation at one time, the unions regularly putting pressure on their bottom line, they should have gone down 7-8 years ago. Sad for all the soon-to-be unemployed workers but, as in all things Democrat controlled, you get what you voted for.
Eventually?
America is already a banana republic. Corrupt electoral system, corrupt political system, corrupt judicial system.
The Pension Benefit Guaranty Corp is to pension funds what the FDIC is to banks. The PBGC is itself bankrupt.
They used it to run the business.
They won’t be unemployed, just a different company issuing a paycheck.
A guy I worked with years ago who handled logistics for the company always avoided using Yellow. He said they were the worst.
America is already a banana republic. Corrupt electoral
system, corrupt political system, corrupt judicial system.
***
Been a long time coming but if one would take a few moments
to reflect upon this land called the USA and follow it’s history
over the years since Columbus sailed the ocean blue in 1492.
Slavery, conscription, females where the home duty workers and the
white male ruled until we had a civil war. After that the skin color rule
began to change, females became more of the process, a civil war in
the 1860s, today whitey is very low on the totem poll.
You get what you bargain for imo. Enjoy as best you can.
“Yellow exec tells sales staff...”
I don’t care if the exec is black, Hispanic, or Native American, putting a DESCRIPTION of him in the headlines shows absolute RACISM on the part of the part of this so-called ‘journalist’.
bankruptcy DIRECTLY induced by dispute with International Brotherhood of Teamsters:
https://www.freightwaves.com/news/the-data-to-watch-if-yellow-shuts-down
just like Studebaker was driven into Chapter 7 by its unions ...
80-90% IMHO
America is already a banana republic. Corrupt electoral system, corrupt political system, corrupt judicial system.
Yes we are.
Dang!
I’ve got a nephew that works for them out in California.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.