Oct.07 — General Electric Co. is freezing pension benefits for about 20,000 U.S. employees in a move that could help trim $5 billion to $8 billion from the company’s pension shortfall. Bloomberg Opinion columnist Brooke Sutherland has the details on “Bloomberg Daybreak: Americas.” Her opinions are her own….(read more)
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Hmm
But.6.Sigma.but.but.Crotonville.but.but.diversity.but.hire.and.promote.women.into.management.but.but.buy.back.stock.but.but…..come.on.now.Who.was.really.in.control.at.GE?Certainly.not.these.hand.puppets.known.as.CEOs.
ge never built big enough wall to prevent average 60 year tsunami from wiping out nuclear power plant fukishima they built. almost killing the entire world..
. the company is going bankrupt and deserve to…the company has many bad judgement and risky shit. henry markopolos says GE going to shrink he is right… smart man
New GM around the corner.. I mean New GE
Jeff bezos should bail them out
Once I’m fully invested in my pension I’m cashing it out screw these asshole executives I don’t trust them one bit
Don't be loyal to a company. Because, as adequately demonstrated here, they will never be loyal to you. Just their stock and bond holders.
eceomic collapse coming
Sleazy company screwing the workers. They siphoned money out of the pension fund which shouldn't be part of the company's financial statements and now because of extreme mismanagement, the employees suffer.
GE Their Nuclear Reactors Are Their Biggest Liability Is their Nuclear Reactors Are Their Biggest Liability & The Next Nuclear Melt Down Cut corner bad design
Corporations are the biggest threat to the world today. They own the military of the country they are in…these sickening circumstances cause the rest of the world to revolt against capitalism…which is an epic failure.
Been through this several times in my career. Gave consessions to keep my company out of bankruptcy and three years later they filed anyway and then took our pensions and other benifits. Held they're SEC filing until after we voted in consessions and we found out the execs gave themselves 9 mill in bonuses. Corporate greed is just getting worse in America.
I worked for Jack. He did not see GE as a homogenized company. He saw each business as being separate. The only overarching umbrella was the finance business. In regard to the separate divisions. He insisted that individually each attain or hold dominant market share. That is what prompted him to sell off tools and small appliances to Black and Decker, and to liquidate the white large appliance business. He never put major research into improving the line of diesel/electric locomotives, with the result they could not remain dominant. He ventured into Nuclear just as it fell out of favor in the US. Power generation equipment lost market share to Germany and Japan. Also, Medical equipment lost also to competitors like Siemens of Germany and Mitsubishi Heavy Industries in Japan. Still, the shining success still remains. GE is dominant in jet engines. You can find remnants of this once great American company in China. America lost it,s industrial base many years ago. The funereal was held here, but the burial was in China.
https://www.youtube.com/watch?v=gSbZu6jbqXs
What did Harry Markopolos say about a month ago on GE!
If you own GE stocks sell right away right now
Soooo what did Trump do??? You idiots!!!! Myself included!!!
i bet you don't see president, vice presidents, and board of directors freezing there pensions…there just figureheads…idiots, that don't contribute anything to the company..they still have there golden parachutes, while you go on company welfare….i say fuck,em…..fuck,em in the face
This is bullshit! You speak of people lives and refer to cash flow. You are all about fucking people who already paid their dues.
This is what's wrong with capitalism.
CEO's and the like get to keep millions while working people get screwed.
This is why you always take the lump sum rather than be beholden to companies who are looking for ways to renig on a deal.
Shameful!
Sure let the employees pay with their pensions for miserable management (paid to the tune of 50,000$ per month) – and don't you dare touch management benefits, are you insane?
And companies still say they look down on applicants who job hop. But should the employee be required to be loyal when loyalty no longer pays off?
Stock goes up after corporation screw employees. Welcome to America. We are a nation of conmen lead by a government in the pocket of the conmen. GE famously not only pays zero in taxes but often received tax credits! Yet they are headed for bankruptcy?
This is basically America in a nutshell. A bunch of baby boomers picked shitty leadership who lost all their money and didn't save any of their money. The Hyperrich of the company stole all the money and now .Now GM is freezing pensions and within 5 years we'll freeze social security.
Welcome to the future baby boomers.
Golly gee whillikers (sp), I wonder whether the top executives lost any of their pensions as well?
Why don't they just cut salaries and bonuses at the top? Oh yeah, dumb question. They are to corrupt and greedy.
The juicy stuff in the files of their venture losses would make a good documentary, What they ACTUALLY did.
Isn't capitalism grand????
Meanwhile those on top reap billions
Wow- only 20,000 people aren’t getting their pensions and that is equivalent to 8 billion?? Must have been the top execs that were cut.
Has anyone installed a GE electrical component the wasn’t made in China or assembled in Mexico
It would be interesting to know how diversified the GE corporation is.
They’ve bought up to many companies over the years and now its biting them back
What do I do with my hands?
Tell me again why pensions are better than 401k's?
Well I guess these ppl out here buying $200,000 motor Homes clogging up the truckers might slow down!! Onething ppl better plan for is saving , forget these big companies and there retirement savings lol you should have enough sense to know they cant pay you $4,000 plus a month in retirement. I refuse to buy into these corporate liars , they are running scams , ponzi schemes. Things are about to turn rough for many. Well just wait until these state employees and teachers lose those pensions . I mean how can any state afford to pay out billions in retirement benefits, it can't be done in the end, taxes are supposed to go for infrastructure, hospitals , fire departments, police . Truly ppl need to wise up about money, if it sounds to good then it is !!
Biggest cause of shortfall is Jack Welch's personal use of corporate jets and the many golf course memberships they have to pay for him. Parasite
How much is that CEO's salary? Fuck corporations.
They should take the golden parachutes of the executive board and use them to fix the business. Not rob from the workers. Capitalism is killing itself off quicker than any socialist revolution ever could.
I sure the CEO took a pay cut first.
More homelessness and public wards….. they long lost alll th pensions… they gambled away other people's retirement.
Once again employees take it in the neck because of bad management . Is culp and the rest of upper management taking pay cuts ? LOL