After years of getting generous coverage, retirees from salaried jobs at
> General Motors Corp. reacted angrily today to the announcement that GM was
> ending their health benefits.
Are we starting to feel the effects of globalization? A lot of companies are moving to other countries where they pay lower wages & benefits. Local workers are losing their jobs, a situation that has a cost, one of which is not being able to buy a new car as often as before, if at all. I know, there is competition in the car industry.
?I?m disappointed in the lifetime promise GM made to us,? said John
> Fleming, 67, of Rochester Hills, a retired information system auditor. ?We?ve
> been wiped off the books completely.?
Stock holders and investors are more important.
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?They want us to retire and then drop dead,? said her husband, John
> Tessmar, 72, a former security supervisor who worked 28 years for GM.
Right they are.
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?All the current employees, retirees and their families are suffering for
> the wrong decisions made for many years by the top executives,? he said.
It is not a problem unique to GM, IMHO.
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