On May 12, 2005, at 8:18 PM, JDG wrote:
At 09:51 PM 5/12/2005 -0500, Dan M. wrote:Pardon my
bluntness here, but this system is just plain stupid. Or at the very
least, stupidly risky.
You know, back when I started working, it wasn't.
And what happens if the company goes bankrupt?
To channel Erik, you're not paying attention. For one thing, in (say) 1950 or so, the thought of IBM (example) going bankrupt was absurd. So was the thought that a professional would EVER change careers. Start with a company, retire from that same company four decades later.
It's grossly unfair of you to take your 2005 perspective and use it to show how naive people were in, say, the 1970s, before globalization, before the iron curtain rusted through, before AT&T was broken up, before airlines were deregulated, before 401Ks, before rapacious and incompetent CEOs were permitted to gut their own companies in the name of short term gain.
Up through the 1970s and possibly early 80s, going with a pension plan was by far one of the best, wisest and most sound choices ANY employee could make. It meant the difference between dogfood and a retirement of comfort and luxury.
-- Warren Ockrassa, Publisher/Editor, nightwares Books http://books.nightwares.com/ Current work in progress "The Seven-Year Mirror" http://www.nightwares.com/books/ockrassa/Flat_Out.pdf
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