[CIMC-work] Re: Union Pensions Crisis

[Chris Kaihatsu]

Tom,

Thank you very much for passing along this crucial article. I will be
passing it along to a friend of mine for whom it is personally pertinent.

If you wish to expose this information to a wider audience I would highly
recommend posting it to our open newswire. Just go to chicago.indymedia.org
and look for the "Publish" button. After clicking it you can easily enter
your information into a form for quick publication to our audience.
Instructions are provided.

Again, thanks for thinking of us.


Chris Kaihatsu, volunteer
Chicago IMC





----- Original Message -----
From: "Tom Dillon" <tom.dillon at surewest.net>
Cc: <alloy_alloy at hotmail.com>; <polyesterorange at hotmail.com>;
<ckaihatsu at myrealbox.com>
Sent: Friday, August 08, 2003 3:58 PM
Subject: FW: Union Pensions Crisis


>
>
>
> > Labor,
> >
> > The problems of Americas labor movement are much more prominent than the
> > Rank and File knows. The infighting, the Bush administration's attacks,
> > the wars,....have all taken priority over the looming pension crisis.
> > According to a study requested by the National Coordinating Committee of
> > Multiemployer Pension Plans (NCCMP), and conducted by Segal Consulting,
> > approximately 70% of the Union pension plans in the country are bankrupt
> > (can't meet minimum funding requirements). The recommendations for
> > legislative actions to preserve pensions are....irresponsible. If I
wanted
> > to come up with a plan to bankrupt pensions....I couldn't do a better
job.
> > Every plan in front of congress today involves putting less money into
> > already hard hit plans. The Consultants who recommended pensions into
the
> > current crisis are the same people making the current recommendations.
> > These bastards are busy keeping their jobs, not doing their jobs. I've
> > attached the NCCMP's Alert. Sent to Trustees across the country.
> > The Trustees aren't much better than the consultants. Since the trustees
> > have personal responsibility if the plans fail, or are poorly managed,
> > they accept the recommendations as....the way to go. An article from the
> > New York Times is also attached.. please notice in the 4th paragraph,
they
> > are already making suggestions of a government bailout. The PGBC is
> > already bankrupt....pension benefits will disappear....as they did with
US
> > Air...
> > PLEASE...let people know.
> >
> > Tom Dillon
> >
> > 775 Sunrise Ave., Suite #250
> > Roseville, CA  95661
> >
> > www.dillonblonskij.com
> >
> > Toll free:  866-339-6400
> > Cell: 916-300-4692
> > Fax: 916-786-2400
> >
> >
> >
> >
>