https://seekingalpha.com/news/3688728
Just imagine if they had actually sold the stock for a profit!!! Its like Jeff never left...
4 replies (most recent on top)
The contract that bargained out future defined pension benefits and the workers who traded their future defined pension benefits for cash are the very ones who should be working/paying for the current pensioners. Further, with the present workforce being cut, the present pensioners are relying on GE to keep pumping money into the fund “cause it’s the right thing to do for former workers vs. the company’s bottom line”. Yeah, we’ll all see how long this one lasts won’t we.
Every previous generation is living off a retirement that is being funded by the current generation. So where do any of those who are currently working think the money that is going to fund their retirement, currently is? Do any of you honestly think it's put into a retirement account with only your name on it until you retire and start taking it out? Some magical shoe box under the CEO's bed? That money from your paycheck is going into your buddy Bobby's bank account who retired 20 years ago! Those t rates that just started 5 years ago that make all of you giggle every time you think about them getting laid off, they are supposed to fund you're retirement. Where do you think your money is going to come from when there are far less t rates to fund you than there ever were d rates to fund those currently retired? That's right, we're all "protected" sigh.. Laid off t rates don't fund pensions! When the I.O.U. is cashed in, who's lap do you think it will be dropped on? Any of the people calling the shots right now? They will be long gone when it defaults! Years from now, it'll land on the lap of somebody who probably just graduated from college less than 10 years ago from now. I'm sure that person is preparing right now for when that day comes. Giggle giggle, t rates don't get a pension. Another sigh... Time will probably prove them to be the lucky ones. I'm sure it will be in GE's best interest to make sure the healthcare system works in the favor of the pension collecting d rates to have a long healthy life...... SIGH smdh!
They are trying to balance the books and catch up on the pension fund that is under funded. Why do you think many newer employees do not have a pension. GE knew they were in money problems when the split pay scale came into play. Now there are so many under skilled t rates running around with all the answers messing up the union. Look at the BS CA agreement. That will back fire on so many t rates because they chased a buck. Sold out and it will bite them in the behind. The bought the line if you don’t do this there will be a layoff hook line and sinker. Soon many will be laid off again and never to be called back.
GE wouldn't not have sold if they didn't need the money. If they truly thought the stock would be worthless later on down the road, they would have completely sold all of their stock. This is an obvious sign on GE trying to obtain spending cash. The question is, What are they going to spend it on, once they have it?