cannabineer
Ursus marijanus
But the fact that the company was voting raises for its execs does rather suggest that they didn't think the pension problem was severe. That, or they were planning the sort of skulduggery and pension-fund raid that made the 80s so exciting.Yes, obviously. Its called a contract renegotiation. Which was in attempt but obviously failed because of the unions. The companies revenues were declining substantially. Can a company continue to pay out it's pensions which were negotiated when revenues were much higher? No. Did the CEO's deserve a 300% raise? Fuck no. Did that bankrupt the company? No. Paying out some 15000 pensions which it could not pay did.
Also, what sort of contract has provisions for renegotiation? A pension is an obligation. Pay up, without sympathy. cn