Patriotic American Corporations.

[PJL]

The problem with defined benefits is that companies made financial assumptions years back that have been affected by major recessions, such as that of 2008, which gutted many of the investments that were pension plan vehicles. Companies like GE, that are having significant debt issues as well as liquidity problems can't no longer afford to carry the liability. Freezing the DB plan is far better than what has happened to other pension plans that simply disappeared leaving workers without anything. They will be receiving an extra 2% salary, which is what the company would have contributed, but that part of the pension investment will not be backstopped by the company. It becomes a defined contribution, with the employee choosing the pension vehicle.

The deception is in the numbers.....what's really happening is that non-viable corporations are raiding peoples pensions , and giving it to themselves in the form of stock buy backs.......it's no different to bailing out the failed banks with public money - it's a scam- it creates zombie corporations that are dragging the economy down. No GFC problems were solved , just shelved for a while with public money.....the problems are all still their , and getting worse.

[bulletbob]

GE was one of obamas big supporters liberals aka socialist Communist.

[PJL]

Defined benefit plans are too expensive for corporations to compete globally. I went into detail in my thread on this story.

Maybe they need another planet with a new market ?

[Common]

Theres patriotic corporations for sure, but unfortunately greed, investors and a desire to get huge bonus's can cloud that judgement

Much of what corporations do is not for the public good, or because they "believe" in their press releases or advertisements, their guiding light is will it make us more money.

For many decades advertising and corporate morals were based on the babyboomers. Research tells corpost that babyboomers are no longer their bread and butter, seniors slow down buying because they finally realize they DONT NEED STUFF and many have less income.

So the corporate greedsters are focusing on the numbnutz generation millenials, but I think they are truly praying and hoping that they actually start working soon so they can buy stuff