Posted on 11/28/2008 2:04:29 AM PST by TigerLikesRooster
Ford retirees worry about future
BY ANDREA HOLECEK
holecek@nwitimes.com
| Friday, November 28, 2008 | No comments posted.
Local Ford Motor Co. retirees say they are worried about the fate of U.S. auto makers and how the industry's problems could affect their comfortable retirements.
"I'm very much concerned," said Charles Cupp, 50, of Morocco, who retired in 2007. "It's very concerning for every one of the retirees I've talked to. It seems like the first place they always cut is on retirees."
Cupp, who worked as an hourly employee at the Chicago Ford Assembly Plant for 30 years, and other retirees said they are paying close attention to the U.S. economy, the domestic auto industry's downturn and General Motors, Ford and Chrysler's recent quest for government aid to stave off bankruptcy.
"I'm watching it on TV every day," said Tony Slusarczyk of Hammond, who retired last year at age 55 after 36 years as a United Auto Workers member at the Chicago Ford Assembly Plant. "I'm watching it more and more. All of us feel the same thing. You feel like you're in limbo, and there's nothing you can do about it."
(Excerpt) Read more at nwitimes.com ...
Ping!
Or maybe the Ford executives who helped run the company in the ground should contribute some of their own cash to keep the pension fund afloat.
Well then, go back to work until you are 66 like the rest of us working stiffs. Sorry, buddy, no sympathy from me.
Both of them have a good 15-20 productive working years left. They need to get off their butts and go get jobs.
And those of us still working and all other retirees worry about the future if our money is robbed yet again to prop up the mess they helped create at Ford Motor Company.
These union goons were overpaid for so many years they destroyed an industry? And now they want our help? Is this real?
I "negotiated" with my boss - there's just two of us in the company - and I got 6 billion a year coming to me.
Sadly the "boss" is running a few billion short and needs a bailout.
I'd like the workers at Ford to cough it up for me. Why should I be punished because my boss is easy to push around? Ford employees should pay for my care. I deserve their money.
That's how it works, right?
But retiring at age 50 with 95% salary/benefits is a Human Right.
That's a real nice statement to make, you must be one of those so called "compassionate" conservatives..........
The story has nothing to do with whether or not he saved anything. My guess is that he did and now, just like you and I, his savings have quite likely been reduced about 35 - 50%.
His concern is his company pension which he worked over 30 years for and planned to use that to survive after he retired. Now he's faced with the possibility of that being turned over to the PBGC...............
He's scared and well he should be. All these guys are regardless of whether or not they are 50, 60 or 70 years old. I'm faced with the same possibility because my company was closed down and there are rumors my pension plan may be sold off by the parent company.
And all you've got to say is "F'em"?
Thats nice Metesky, real real nice...........and you wonder why the leftists hate conservatives.
I don’t care if liberals don’t like me or think I’m mean. I don’t even care what you think.
Good thing the public sector will keep getting their pensions. I know a handful of cops and firefighters about the same age and their pension pays close to 100 grand a year.
I dunno about teachers but I bet they are doing the same thing. Retiring at 55 with a golden parachute or three.
Fifty? Go out and get another job if you're really concerned.
Carpenter by trade, 40 years in non-union residential construction.
Are you independently wealthy?
Oh yeah, that's me! I'm 65 and just collect that SS and drive a taxi 60 hours a week for a freakin' hobby.
You can't even give a bit of sympathy for those who worked 30 years at a company?
No. I imagine conversing with someone who has spent 30 years in the same building must be as stimulating as conversing with a career 4th grade teacher.
Why... are you a 4th grade teacher? Am I expected to learn life's most important message from you?
I was actually interested in your life to see where you were coming from. I respect that you work hard and think you deserve to give your opinion.
Why... are you a 4th grade teacher? Am I expected to learn life’s most important message from you?
lol. A 4th grade teacher? I would probably end up killing them for their disrespect. I am actually in the military 21 years. No you don’t have to learn anything from me about life...I am just another regular FREEPER on here learning from folks like yourself.
There's the problem right there. Retired at 50?
Thats not the issue. The story here is the fear and uncertainty the workers in this story and myself are feeling at this moment.
Those workers were promised that in return for their work and commitment to their respective companies, they would receive a pension based on the number of years with the company and so they planned their futures accordingly.
Now those plans and promises might end up in the dumpster where their 401-k investment savings are right now.
Your comment regarding DB's isn't relevant to this story. The fact remains is they exist and there's nothing that can be done about that. What also remains is the fact that many of these DB's just might end up in the hands of the PBGC. Nobody knows for certain and thats why the workers in this story are scared shitless......They have every right to be.
And for Meteskey to write what he did, well its obvious he won't be seen in church on sunday.....most church goers I know don't harbor such disdain and arrogance towards others let alone voicing it in public.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.