begin quoting Andrew Lentvorski as of Sat, Jul 09, 2005 at 02:04:27PM -0700: [snip] > Wrong. You go bankrupt. Pension mess solved. > > See US Steel, Bethlehem Steel, US Airways, etc. Yup.
I'm not terribly convinced that it's a good idea to let bankruptcy excuse pension obligations. The people that are most hurt are typically the ones least able to bounce back. > Since the City of San Diego actually has useful income that must be paid > (taxes) and has useful assets, it will quite easily emerge out the other > side. Don't people get more upset when a government entity declares bankruptcy than they would if a corporation does so? > Thinking that your pension is safe in this day is naive. I vastly > prefer 401Ks simply for that reason. Once the company dumps the money > in there, it's *yours*. Subject to whims of the stock market and mutual fund investors. :( (Ever notice how incestuous mutual fund boards are? They're all the same people, it seems.) -Stewart "Had no enron stock, AFAICT, more by luck than design" Stremler
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