A new law will let companies contribute billions of dollars less to their workers’ pension funds, raising concerns about weakening the plans that millions of Americans count on for retirement.
The equation underscores a harsh reality for unions, consumer advocates and others who normally go to the mat for workers and retirees: When it comes to battling over pensions, the fragile economy of 2012 gives the business community a lot of leverage.
If only corporate America had some money…… Poor corporate America……….
AARP lobbyist Debbie Chalfie said the seniors organization was concerned that companies contribute the right amount to their pension funds, but at the same time, “We want to make sure employers continue offering these plans.” Nobody gets a pension anymore. Anyone who still has a pension Obama is working hard to kill those too. AARP needs to get a clue.
Even the Pension Rights Center, which advocates for pensioners, was torn. Executive Vice President Karen Friedman said the group was “sympathetic to business concerns” that companies have been hurt by the recession, though still worried that reducing corporate pension contributions could hurt consumers. Businesses have been hurt by the recession…... that they created by getting rid of all the jobs. It is their fault. Get rid of excessive CEO pay and make the people who created these problems pay for it.
All the Big Unions (and watch dog groups) are paper tigers. Lots of bark and not much else. They have been neutered by the corporations they were supposed to be fighting.
Little by little corporate America is shedding all of their employee obligations. The car companies did it in bankruptsy court. Now the airlines are working on doing the same. http://www.businessinsurance.com/article/20120709/NEWS03/120709916?tags=%7C63%7C307%7C74%7C77
Whatever they can’t get done on their own Obama (and Congress) are all too happy to help. Just keep those campaign contributions coming.http://articles.latimes.com/2012/jul/09/news/la-pn-obama-raises-71-million-in-june-falling-short-of-romneys-haul-20120709