Do these corporations know no limit to their bottom feeding? Ordinary individuals with families and long term and sterling records of employment are now going to lose the lion’s share of what they had been promised over decades. So much for security in retirement or any semblance of integrity at the corporate level.
It is expected now that United Airlines has gotten away with disposing of their pension fund payout responsibilities, other airlines and miscellaneous mega-corporations will follow suit.
This sort of blatant thievery reminds me of those South American banks closing their doors to its depositors when the crap hit the fan. And banks all over the world have the same arrogance and haughtiness, that impossible high-handedness (even in rural Peru) that somehow excuses them in stealing your money surreptitiously with fees then outright closure if the dire circumstances arise… but not before of course the faceless executives get to dig deep. No wonder they spend so much of our money advertising back to us.
These reports do serve one function: dispelling the illusions of security we live by.
No comments:
Post a Comment