Re: General Motors retiree: This is a knife stab in the back

I hope all of you that read about the retiree insurance and do not think it can happen to you will relize it can. It is time to think before buying
those cheap foreign goods and question where your products come from. If GM does it ALL businesses will do it........think about it.

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Chevy Man wrote:

That's why I refuse to step foot in walmart. Walmart sucks.
-b
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Not much to think about. Very few companies ever offered that kind of compensation for retirees. Maybe the phone company of years ago.
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Yes, but to have it taken away will be a very large burden for these retirees.
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Thee was a blurb about that type of thing on the news. About 33% of companies offer coverage for retirees, down from 70% in 1980. GM is not the only one cutting that benefit as companies hit a cash crunch. More people cannot afford to retire too. I guess I'm fortunate that I may not be able to retire for a while, but at least I like my job and enjoy going to work.
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So it's fair to work for a company, being promised insurance when retired, and then to have it taken away? Come on, Edwin.
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I didn't say it is fair, I'm saying it is reality and we have to plan on no coverage. You can't trust a company pension that is funded by current cash either. Unless that money is invested in a third party, you can get screwed there too when the company goes to crap. Many companies go out of business every year either from poor management or the products they make are no longer needed. Sorry, but you can't depend on others to take care of you no matter how good their intentions.
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Edwin Pawlowski wrote:

you should be reminded that not all people had the advantage of 401k's matched savings etc. some people in their 80's counted on the health care as part of their pension. Now at the time they need it the most their savings are being depleted by costs as gm salary have not had any increases in pension for 30 years. to lose health care now will be awful news.
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I don't have to be reminded of anything. Sure, some people will get hurt, but look at the whole picture.
Two possible scenarios: #1 GM continues to pay, they go belly up and the retirees get nothing. No healthcare, maybe no pension depending on how it was funded
#2 We cut the healthcare and give them $300 a month more in pension, we save tens of thousands of jobs and the retirees get something instead of nothing. With the extra money than can, at least, buy a Medicare supplement to help.
Yes, it sucks, but it is going to be that way for most of us in the future. There was a time you could retire and live on SS. While I have a 401k, I don't have enough to retire now that I'm 62 and probably won't when I'm 66, at least not with a very nice lifestyle. I have to take responsibility for that myself. There is a possibility that I'll retire or semi retire with very good benefits, but there is no guarantee the company will still exist, the owners will still be alive, etc. The good news is that if I can still get there I'll have a job as long as I want and I truly like my job and going to work.
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wrote in message

I can understand what you are saying, but I still think it's a "stab in the back", as the post is titled.
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I've got so many holes in my back, I've quit worrying about it....
Ed
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It is a stab in the back. Most of these employees worked for this company for 30+ years and put up with alot of crap with the hope of retireing with the PROMISED benefits.I wanted a new car but will now look to Chrysler or Ford. I think it is time the upper management bit the bullet insted of always the worker.The guy who is 62 and loves his job must be planning on living forever. Tomorrow is not guaranteed to anyone. I would go out and enjoy life now but if working for some company is enjoying life then something is wrong........................................................................

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Hello Nos:
The only hope for those who retired from G. M. before the new plan was implimented is in the United States Distrct Courts. At least that is my perception of the path to relief for these loyal, retired G. M. employees.
G. M. has outsourced many of its operations to other countries where they do not have to pay the U. S. dollar wages and benefits. Certainly it helps the General Motor's profit margin, but it does nothing for its current or retired American employees.
Like many companies during the last 20-years, loyalty to God and Country has been thrown overboard into outsourced waters. Whatever happened to "management in the public interest?
Peace is better than aggression,
Famous
_________________________________________________

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