I keep hearing GE has 602,000 employee's that have a pension obligation. Sorry but the numbers do not add up for me. Alstom did away with pensions years ago, so did GE for new employees circa Jan 2011. Most of this so called pension obligation are for retired employees. GE has not contributed to a traditional pension for over 7 years for existing employees from my math. Yes, they contribute to a 401K at year end for existing employees per their new information provided to employees. I keep hearing GE is going freeze pensions. For how many people ? it cannot be for 602,000 employees. There has to be 400,000 employees that will get their full pension. So, what are they really saving ? You can freeze all you want but you still have one hell of a hole to fill In my opinion if there was some real savings GE would have done it already, meaning the pension would be froze already. The hole they have dug by not funding their pensions is for existing retired employees. That obligation will always need to be filled so help me understand GE's next move besides paying up? Which means earnings will suffer.
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once the indictments start there will be a lot less executives to pay
Cut the divided. Usually what happens when low on cash.
So where is the investigation as to why GE is not adequately funding their pension obligations. Shouldn't JI be giving back some $$ he took with him ? Seems like he took his money and ran to another opportunity. GE shareholders should reward the current leadership for being honest and for their recent transparency ? Total ..BS
https://marketrealist.com/2017/12/general-electrics-measures-curtail-pension-burden
You are close ..61,000 current employees with pensions , 168,000 former employees (pension is froze by default, except normal COL), 238,000 retired or beneficiaries) . These boys are spinning the bottle. Can you say ...they were buying stock over the past few years instead of taking care of the people they should ...nothing but crooks.
Giant Ponzi scheme is the way to go. Last few thousand to get out get to hold the baby!
Offer lumpsum buyouts, take a one time charge. Might have worked a few years ago, but GE has already taken out loans to pay for previous loans. (Ponzi) With so much debt, it is hard to take on any more now. I think lumpsum offers would be low-ball to see if any desperate retirees bite. Won't solve whole issue. I can see GE starting talks with Uncle Sam for help - bailout money or really incredibly low interest loan. I could also see a sale of a division to raise cash. I Melt is an idiot.