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#21
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("Garner Miller" wrote)
Unless you're a pilot, forced to retire at 60 by the FARs. Then you get $28k to live on because you "retired early." Worked hard to build a nice house? You're going to have to sell it -- you won't be able to afford the taxes on it. Sad. 1. ROTH 2. IRA 3. Sell house (downsize) ...pocket up to $500K tax free 4. Avoid debt 5. Avoid divorce 6. Morning shift at McDonald's is usually the older English speaking gals. Start here, unless your Spanish is passable enough for the afternoon and evening crews. Montblack |
#22
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No, but, in the scenario that United were to fold, do you think the
present job market could absorb all of those workers? And the ones lucky enough to find a job...who says the next company wouldn't default on promises. Seems to be the rage these days. At least they have a salary that feeds the family as long as United exists or they might be fortunate enough to find another job. Andrew Gideon wrote: If they're smart, they'll leave. The company has already shown what its word is worth. Would you work for someone that broke promises to pay you? - Andrew |
#23
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gatt wrote:
My dad worked for 24 years at UAL-PDX. Laid him off in his 24th year, a year before he was eligible for full retirement. Doesn't matter, United bankrupted the pension plan as well. |
#24
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You got it right, Chris. I quit flying United several years ago. I could no
longer tolerate their rude, arrogant employees .. constant late and canceled flights because of broke airplanes .. etc. Recently my daughter went on a trip with a group. Her travel group was on United. I told her I was sorry and to be prepared for a delay along the way. I was right. She was stuck in Chicago because of a broke plane. She was amazed I could tell the future. They made their own bed .. let them lay in it. "Christopher Campbell" wrote in message ... Let's not forget that it is these employees who are largely responsible for running the company into the ground. CEOs come and go, but the employees ran it from day to day. They made unreasonable demands in bad faith, sometimes threatening to strike if the pot was not sweetened even more. In the end, the company was entirely owned by the employees. They hired the CEO. They fired him. They decided how much he should be paid. Now whose fault was that? |
#25
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gatt wrote: My dad worked for 24 years at UAL-PDX. Laid him off in his 24th year, a year before he was eligible for full retirement. He was UAL-PDX employee of the year a couple of times, received all kinds of awards and bonuses...he received one award for not missing a day of work for something like five years. Years later, some new jackass comes along, wrecks the company and walks off with a $1.5 million guaranteed pension after a trivial amount of time. Meanwhile, the pilots, flight attendants and everybody else who MADE UNITED WHAT IT WAS are screwed out of their contracted pension. United became employee owned about 7 or 8 years ago. They screwed themselves. |
#26
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gatt wrote: Are you saying my father isn't "smart"? Are you saying that company loyalty and hard work isn't smart? I'm really sorry to hear about your father's financial predicament, but to answer your question, hard work is very smart, company loyalty is an anachronism from a bygone era. It hasn't been a relevant concept for decades. Pledging your future to a faceless corporation is great for the corporation, but as your father found out, it's a one-way street. Tactics like getting rid of an employee on the eve of retirement (to save a few bucks) are fairly commonplace. On top of that, banking your retirement on the fact that a corporation will not only be in business, but be profitable enough to support all of the former employees is quite a gamble. Even large corporations fold on a fairly regular basis. I've only been in the workforce for about 26 yrs and have never understood pensions. It requires a huge leap of faith in a corporation. I equate it to keeping all of your retirement savings in one stock. Not a financially sound move by any measure. John Galban=====N4BQ (PA28-180) |
#27
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RomeoMike wrote:
No, but, in the scenario that United were to fold,Â*Â*doÂ*youÂ*thinkÂ*the present job market could absorb all of those workers? Well, it wouldn't quite be "the present job market". United folding would leave an opportunity. I'd hope that at least some of the routes/flights would be picked up by someone else (hopefully an upstart like JetBlue that might actually make them work). If not...well, then there was apparently no market for it (at least at current pricing). That's unfortunate, but reality. And the ones lucky enough to find a job...who says the next company wouldn't default on promises. Seems to be the rage these days. Perhaps so. But I'd rather put my faith in someone that's not [yet] proven untrustworthy as opposed to someone that already has. - Andrew |
#28
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"Christopher Campbell" wrote in message ... On 5/12/05 1:21 PM, in article , "gatt" wrote: "Jay Honeck" wrote in message news:cNNge.76189 Speaking as one of the millions who have never had a pension plan -- and never will -- $45K per year for sitting around the house sounds pretty danged good. Of course, that pension will now be paid out by We, the People, instead of They, the Stockholders... Yep. Corporate welfare, and never a demand for accountability. You guys suppose that if a General destroyed his entire brigade or division, they'd give him a $1.5 million dollar pension and let it go? Let's not forget that it is these employees who are largely responsible for running the company into the ground. CEOs come and go, but the employees ran it from day to day. They made unreasonable demands in bad faith, sometimes threatening to strike if the pot was not sweetened even more. In the end, the company was entirely owned by the employees. They hired the CEO. They fired him. They decided how much he should be paid. Now whose fault was that? You got that right. I don't know of too many people that feel sorry for United employees other than United employees. They went to the till too many times and now they get to suffer the consequences. |
#29
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you work and build a retirement plan based on what you have done and what
the company promised.. and then after you retire.. the company cuts your planned pension from $60-70K to $45K how are you going to live now... sell everything you have.. and buy something cheaper.. unless you already did that to retire.. BT "Jay Honeck" wrote in message news:BGOge.76229$c24.4371@attbi_s72... Unless you're a pilot, forced to retire at 60 by the FARs. Then you get $28k to live on because you "retired early." Worked hard to build a nice house? You're going to have to sell it -- you won't be able to afford the taxes on it. That's not what NPR said -- although it IS the pilots who will be hurt the most. The way they put it, after clearing a 6-figure income as a United pilot, a retired United pilot would be capped at "only" $45K annually under the new plan, despite the fact that his higher past salary entitled him to a MUCH higher pension payment under the old retirement plan. -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
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