Dominion appreciates your comment I would think. .
Posted on 03/25/2023 2:53:57 AM PDT by zeestephen
And then comes the nightmare of Unfunded Pension Liability that follows the company AND its owners FOREVER.
Might as well put a huge red ball gag in Michigan’s mouth. You’d think they would have learned their lesson after Granholm.
“And then comes the nightmare of Unfunded Pension Liability that follows the company AND its owners FOREVER.”
In the United States the entire concept of a defined benefit pension disappeared around 2010. At the time pension plans were implemented by most American companies they were a necessity for worker competition. But government kept expanding what pensions would cover and how they’d be funded, and companies were forced to give up the concept or begin working solely to fund the pension program. Also, a huge pension fund became a liability as Bernie Schwartz used those funds to get loans to buy the company and then used the pension fund to pay off the loans. (Screwing the employees.)
We know today why Studebaker folded their automotive operation because someone got ahold of the secret minutes of the meeting where the board discussed it. There was a coming wave of retirements and Studebaker would have to start paying pensions at a rate they couldn’t maintain. It wasn’t that they weren’t making money selling cars. It’s that they weren’t making enough money selling to pay off the pension requirement and make a profit.
Another problem with pensions, as demonstrated by the California public pension fund, is that the money goes into the fund at now dollar value, but inflation and raises (from which future payouts are calculated) went up faster than any profit from investing the money in the fund. Fund investments were supposed to be conservative and aimed at preserving the funds. There was no way to keep up with inflation and grow the fund to keep it even without taking huge risks. Throw on top of that many “investments” made were political rather than financial. Those invariably lost money.
I think the smart more morally good companies did that a long long time ago. I kind of tend to believe that the only big companies that are still in Michigan are the big unionized companies in bed with the liberals swamp dwellers.
Hmmm......... very interesting. Especially the Studebaker facts.
Dominion appreciates your comment I would think. .
Yes there is something that prevents it. It is called slashed tires and keyed doors.
You don’t need no stinking freedom of choice, said the abortion advocate governor.
There is another side to this story...
We got tired of the bush league chamber of commerce worshiping republiCAN’Ts that ran this state for decades.
We got tired of being ignored and walked over.
We sent them packing at the state convention.
The big money took their toys and went home.
We then fired the worst of the lot in the general election.
Yeah, we got 2 years of democommies in charge, then we get our state back.
For the people, not for the chamber of commerce and the insurance companies, but for us!!!!
Wow, someone gets it! Hopefully, we can survive 2 years of this. Also, they’ve abandoned Kristina, took their ball and money and went home. You can thank Ron Weiser and his minions as well as the likes of the DeVos clan.
Those dumb bass turds in Michigan sure aren’t into freedom, are they? Brain freeze? Elections do have consequences. Arizona’s Kati Hogg is going to do the same thing. Too many illegal aliens bringing their former socialist sh*thole lives and free sh*t demands with them to America.
There was another guy, david someone or another, that single handedly derailed the recall against wHitler...
The uniparty wanted her in charge, and the bush league chamber of commerce worshiping republiCAN’Ts made damn sure it happened
Come on you Michiganderers! The union thugs want their cut of your paycheck. ROTFL. No more taking the wife out to eat or the kids to Disneyland. It’s not your money anymore. It will be funneled directly to the extreme far-left Dung Beetle party politicians. LOL. How’s Whitmer look to you now?
You can’t have communism without unions. This is a big step for the Dung Beetle turd rollers.
It means you're to blame for Biden if you're an American voter.
And you must enjoy high inflation, a bad economy, drag queens, a degenerating military, a perverted culture, and being called a racist.
Lying to the People via lamestream media and allowing democrat cheating via lamestream media backing the cheating is why there are blue states. This nation is a Conservative nation till one listens to the lamestream media and the fraudulent votes are counted. There are few areas that vote blue and not all in the so-called blue areas of a state vote democrat. This nation is being lied to by the lamestream media
Attagal....double down on stupid.
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