I thought this might interest some of us. You may have to register (free)to read it. Be happy to email the whole text to anyone who wants, just not going to take up Samantha's server budget with it...
Last Maytag Plant Closes
- Thread starter panthera
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whirlcool
Well-known member
This is just terrible. I think the only option some of these people may have is to relocate to larger cities such as Des Moines, Minneapolis/St. Paul, Chicago or Milwaukee.
The loss of the pension fund is a real hit and hard to take. I knew lots of people with Braniff that lost their pensions when it shut down. What do you do when you are in your late 50's and there is no future?
I thought after Braniff failed the government put rules into effect to prevent companies from taking away the pension funds?
The loss of the pension fund is a real hit and hard to take. I knew lots of people with Braniff that lost their pensions when it shut down. What do you do when you are in your late 50's and there is no future?
I thought after Braniff failed the government put rules into effect to prevent companies from taking away the pension funds?
andrewinorlando
Well-known member
- Joined
- Oct 18, 2004
- Messages
- 1,392
They did, it's the Pension Guaranty Fund...but it does not pay the full pension one would have received if they had retired from the company. That's for pension funds that have gone bankrupt. This isn't the case with Maytag's, so this may not solve the problem.
pturo
New member
Why is the Attourney General of the USA allowing these mega mergers? It hurts conusumers choices and hurts workers and local economies. It makes me sick that any company can be on the bidding block. Maytag should have gone private and told Whilpool to stick the shares they were offering up their pump hoses. This is what is so wrong with America,the loss of indegenous companies and products to compete and keep the competition on thier toes so the American Consumer has better choices than Macy's and Whirlpool.
AG of the USA do anything useful? ROFCMAO (That's Crying vs.
Laughing.) It comes down to greed. I worked at a company that
got bought and then later spun off. Whole thing was a bad
experience.
I go back and forth on buying/selling/merging companies. Not
something to really be prohibited - a company/name has an intrinsic,
physical, monetary worth - but it seems too many times there are
discounted concerns of what happens to employees, quality,
competition, innovation, etc. Of course the shareholders are
the "owners" and can do whatever they want one might say. But
then are they no better than slumlords?
I consider the advertisements for "Foreclosure Seminars" that
say the seller thanks the vulture foreclosure buyer for
"saving" their credit rating to be pure bunk.
Laughing.) It comes down to greed. I worked at a company that
got bought and then later spun off. Whole thing was a bad
experience.
I go back and forth on buying/selling/merging companies. Not
something to really be prohibited - a company/name has an intrinsic,
physical, monetary worth - but it seems too many times there are
discounted concerns of what happens to employees, quality,
competition, innovation, etc. Of course the shareholders are
the "owners" and can do whatever they want one might say. But
then are they no better than slumlords?
I consider the advertisements for "Foreclosure Seminars" that
say the seller thanks the vulture foreclosure buyer for
"saving" their credit rating to be pure bunk.
