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miriam_eYep, let's get rid of public pensions because private enterprise is so much better and more reliable. It gives you so much more to look forward to in your sunset years.
As Michael Hart notes in his latest Project Gutenberg Weekly Newsletter:
"The list of billion dollar companies defaulting on their pensions plans is enormous, including Bethelhem Steel, National Steel, Polaroid, Kaiser Aluminum, US Airways, etc.
Billion dollar insolvencies since 1990: Bethlehem Steel, LTV, Wheeling-Pittsburgh, Metals USA, McLoedUSA, Global Crossing, Winstar, Covad Communications, 360networks, ICG Communications, PSINet, Exodus Communications, Lernout & Hauspie & Dictaphone, Safety-Kleen, Laidlaw, The IT Group, Enron Corp., Pacific Gas and Electric Company, Reliance Group Holdings & Reliance Financial, NationsRent, ANC Rental, Burlington Industries, Chiquita Brands, Polaroid Corporation, Hayes Lemmerz, Federal-Mogul, W.R. Grace & Co., Owens Corning, Armstrong World Industries, USG Corporation, Lodgian, The FINOVA Group, Inc., Comdisco, Fruit of the Loom, Pillowtex, Warnaco, Kmart Corp., Ames Department Stores, Service Merchandise, Bridge Information Services, Imperial Sugar, The Loewen Group International, Inc., Vlasic Foods, AMF Bowling, Harnischfeger Industries, Inc., Vencor, Inc., Sun Healthcare Group, Inc., Mariner Post-Acute & Mariner Health, Genesis Health & Multicare, and Integrated Health Services."
As Michael Hart notes in his latest Project Gutenberg Weekly Newsletter:
"The list of billion dollar companies defaulting on their pensions plans is enormous, including Bethelhem Steel, National Steel, Polaroid, Kaiser Aluminum, US Airways, etc.
Billion dollar insolvencies since 1990: Bethlehem Steel, LTV, Wheeling-Pittsburgh, Metals USA, McLoedUSA, Global Crossing, Winstar, Covad Communications, 360networks, ICG Communications, PSINet, Exodus Communications, Lernout & Hauspie & Dictaphone, Safety-Kleen, Laidlaw, The IT Group, Enron Corp., Pacific Gas and Electric Company, Reliance Group Holdings & Reliance Financial, NationsRent, ANC Rental, Burlington Industries, Chiquita Brands, Polaroid Corporation, Hayes Lemmerz, Federal-Mogul, W.R. Grace & Co., Owens Corning, Armstrong World Industries, USG Corporation, Lodgian, The FINOVA Group, Inc., Comdisco, Fruit of the Loom, Pillowtex, Warnaco, Kmart Corp., Ames Department Stores, Service Merchandise, Bridge Information Services, Imperial Sugar, The Loewen Group International, Inc., Vlasic Foods, AMF Bowling, Harnischfeger Industries, Inc., Vencor, Inc., Sun Healthcare Group, Inc., Mariner Post-Acute & Mariner Health, Genesis Health & Multicare, and Integrated Health Services."
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Date: 2005-05-26 05:08 am (UTC)True that most workplaces haven't asked us where we wanted our superannuation to go, but you can move it out as soon as you leave the place. At the job I was at longest, I was unhappy with the existing super arrangements, so I investigated other options, obtained agreement from management to change, and did a deal with a super company to provide us with negligible fees, as the whole company would shift to using them in that case. However, with personal choice coming in this July, this level of effort should no longer be necessary.