Since GE has dropped out of the DOW , I am hearing they might have problems paying pensions for the retirees . Now BHI gave GE several billion when GE bought BHI out . I know GE does not own BHI completely but who is going to buy Baker Hughes . Also what will happen to BJ Services , I understand that BHI still owns part of them ???
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This is bs pension is down cuz of bad management in aberdeen
If you worked at Baker during the past 20 years or so and if you did not come from a purchased business unit with a pension that Baker recognized, you automatically got into Baker's annuity pension plan where Baker contributed. If that is the case and if you participated in the annuity plan enough years then you are doing OK. Of course that is on top of the 401K and other investments that you would have been smart enough to do over the years.
No one in this mess is interested in yer pension. Get over it an pay more attention next time.
The pension I had with BH is now worth 38% less since the merger.
My accountant has been in alpt of contact with BHGE OVER the last 6 month's to absolutely no success and more or less it's just gone.
This is not a new thing and is coveted by by the mounds of paper work they send you out on it but if you do the confirmed figures we have lost tens of thousands if not more.
GE dropping from the DOW, while historic, is not thar significant. Since the US is no longer the manufacturing juggernaut it once was, GE being replaced by tech companies makes good sense. It is not the end of the world. Aberdeen will still be able to give BJ services any time.
Why would anyone buy bakker when you have morons who lose a contract for hundreds of wells an they don’t get rid of them. Thats what losers do.