Guest WA777 Posted September 30, 2003 Share Posted September 30, 2003 Again it would appear that neither management nor any new potential equity investor could give a flying fudu about the employee pension plans..I think it is high time for employee and union lawyers to go to CCAA court and get the SECURITY of management's pensions tied directly to the SECURITY of the employees' prior to emergence from CCAA....Come on get a move on....!! http://www.globeandmail.ca/servlet/story/RTGAM.20030930.wxrairc30/BNStory/Business/ Link to comment Share on other sites More sharing options...
LongTimer V Posted September 30, 2003 Share Posted September 30, 2003 Its also interesting that todays daily horizon's mentions the extention of the deadline to Dec. but not a thing about the unions walking out regarding the pensions.I guess management don't want the employees to know about that little issue.Its also intersting to note the lack of interest on this forum re this issue.I'm with you,either get on with it or shut it down,this has been all a scam from the get go...be ready for more pay cuts,this time will hurt for sure. Link to comment Share on other sites More sharing options...
Guest Starman Posted September 30, 2003 Share Posted September 30, 2003 Agreed. The employee pension plans should be secured under the same umbrella as management pensions and the director's liability fund. Link to comment Share on other sites More sharing options...
Guest chiselcharter Posted September 30, 2003 Share Posted September 30, 2003 Hhhmmm! Interesting the two stones that are still rolling, pension plan and RJ's. Or is that Pension plan versus RJ's Link to comment Share on other sites More sharing options...
GTFA Posted September 30, 2003 Share Posted September 30, 2003 Ha! Nice try Chisel. Do you really thinks that's it??? There is nothing anyone could do with the RJs to make up for the pension deficit. Link to comment Share on other sites More sharing options...
Guest Sam of Old Posted September 30, 2003 Share Posted September 30, 2003 The issue is whether or not AC can fund the deficit over the government mandated five year period. They are looking for 10 years to fill the void, and as anyone knows, during that time frame the market could easily turn the corner and then this will no longer be an issue. In the meantime they're trying to get the employees to blink... Link to comment Share on other sites More sharing options...
Guest WA777 Posted September 30, 2003 Share Posted September 30, 2003 What I'm trying to say is that if the employees' pensions are being driven into jeopardy so should management's....I'm fed up with GREEDY executives protecting themselves at the expense of the employees....will management ever respect their employees?.....will they ever earn mine..?? Link to comment Share on other sites More sharing options...
Guest Starman Posted September 30, 2003 Share Posted September 30, 2003 And I agree with you. And there is one other factor to consider: The pension shortfalls are based on a "snap shot" valuation and not an average projected valuation over a twenty year average payout. Although, it looks extremely bad at the moment, this fact may be to our advantage in the future if the shortfall is made up under current valuations. Link to comment Share on other sites More sharing options...
Guest Sam of Old Posted October 1, 2003 Share Posted October 1, 2003 Link to comment Share on other sites More sharing options...
LongTimer V Posted October 1, 2003 Share Posted October 1, 2003 I don't think that will ever happen,history has already shown us that with this management team.If there is a surplus you know it ain't gonna benifit the employees. Link to comment Share on other sites More sharing options...
Guest WA777 Posted October 1, 2003 Share Posted October 1, 2003 What I'm trying to say is that if the employees' pensions are being driven into jeopardy so should management's....I'm fed up with GREEDY executives enriching themselves at the expense of the employees....will management ever respect their employees?.....will they ever earn mine..?? Link to comment Share on other sites More sharing options...
Guest Starman Posted October 1, 2003 Share Posted October 1, 2003 No argument there, but my point was that if we are successful in getting the shortfall paid up, it may mean that the plans valuations will become quite healthy over the next few years as the "snap shot" time frame changes. Link to comment Share on other sites More sharing options...
Sky High Posted October 1, 2003 Share Posted October 1, 2003 Geez, every time I turn around it seems you guys are getting slammed with something else. I'm really thankful I work where I do. Makes me wonder how you all manage to keep your sanity on a daily basis.. Good luck with this one, I think you have one heck of a fight ahead of you. Hope you manage to salvage things. Sky High Link to comment Share on other sites More sharing options...
Guest WA777 Posted October 1, 2003 Share Posted October 1, 2003 I hope that where you work, your management has REAL TRUE respect for you and what you do.......not just mouths the words....! Link to comment Share on other sites More sharing options...
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