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WestSeattle2

(1,730 posts)
65. As with any financial contract, if you cannot or will not make payments than you
Thu Mar 1, 2012, 09:34 PM
Mar 2012

file for bankruptcy or otherwise forfeit property. No clause needed, that's just a fact. Labor contracts aren't exempt from financial realities.

Why should they pay for healthcare that the employees can access through cbayer Feb 2012 #1
Define "they" in your sentence please. Thanks.nt FLyellowdog Feb 2012 #3
Kodak. cbayer Feb 2012 #6
It usually converts into Medigap once the retiree moves onto Medicare Yo_Mama Feb 2012 #23
Thank you for that. I found this to be misleading. If it's about medigap policies, cbayer Feb 2012 #25
Some employees can be Medicare eligible but with younger, non-working spouses who would go uncovered cyberpj Feb 2012 #38
because the employees bargained for it and signed a contract.... mike_c Feb 2012 #7
But they are all Medicare eligible. Why would this even be a bargaining chip? cbayer Feb 2012 #8
Kodak had the right to NOT make the promise... mike_c Feb 2012 #12
I see your points. I thought there were pretty strict laws about the funding cbayer Feb 2012 #15
as I suspected, Kodak began robbing their retirees in the form of underfunding pension plans... mike_c Feb 2012 #19
This is true for most negotiated retirement medical plans Yo_Mama Feb 2012 #24
Yes, Kodak made a deal Roy Rolling Feb 2012 #26
You are aware that the Federal government did essentially the same thing ProgressiveProfessor Feb 2012 #36
+++++ Betsy Ross Feb 2012 #29
If these are binding contracts, then why do employees always lose their pensions? Canuckistanian Feb 2012 #46
Kodak is in bankruptcy-- their retirees just became another class of creditors... mike_c Feb 2012 #53
I agree. Are they going to cash them out for the value of the insurance. No, of course not. IndyJones Mar 2012 #56
We Have a Winner! we can do it Mar 2012 #64
Is (was) Kodak paying for FULL insurance as part of the retirement pkg. or was it supplemental? Hassin Bin Sober Feb 2012 #21
Good question. If it's about the supplemental, then that's a whole different story. cbayer Feb 2012 #22
They should have been required to pre-fund their pension fund 75 years ahead csziggy Feb 2012 #2
Not quite dipsydoodle Feb 2012 #9
Well said! Marthe48 Feb 2012 #20
dammit-- corporations should be dismantled and sold for scrap... mike_c Feb 2012 #4
The Plutocracy speaks, The Court abides... n/t Earth_First Feb 2012 #5
This corporation is being effectively dismantled and sold for scrap. boppers Feb 2012 #17
To the retirees? dmallind Feb 2012 #45
I am all for this cstanleytech Feb 2012 #10
This is why I will never be against 401Ks. Snake Alchemist Feb 2012 #11
And people thinkg pre-funding the USPS pension funds is a BAD thing?!?!? nt Snake Alchemist Feb 2012 #13
The amount required is far beyond what is actuarily required, even by the most stringent rfranklin Feb 2012 #14
The prefunding of the USPS pension fund was applauded by the union and smartly so. Snake Alchemist Feb 2012 #16
Your source for roughly how much money USPS lost during those five months? brentspeak Feb 2012 #49
Quarterly earnings Snake Alchemist Feb 2012 #50
Reads that losses would have doubled had the prefunding been in place brentspeak Feb 2012 #54
Prefunding or not they're going to be losing money. Might as well prefund. nt Snake Alchemist Feb 2012 #55
Sure, what's an extra $5.5 billion lost a year? brentspeak Mar 2012 #57
Or end up like Kodak employees. There is a reason that pre-funding is required for pensions. nt Snake Alchemist Mar 2012 #58
Is there a reason to prefund over a 10 yr span 80% of future retiree benefits? brentspeak Mar 2012 #59
I do set aside my income to fund my retirement. Snake Alchemist Mar 2012 #60
GAO: USPS prefunding for retiree health benefits should be eliminated or restructured brentspeak Mar 2012 #61
Uh.... Snake Alchemist Mar 2012 #62
If you read that article carefully, Yo_Mama Feb 2012 #28
LIke other companies Kodak promised then reneged Marthe48 Feb 2012 #18
Most private companies were extremely careful for decades to not contract for retiree health care FarCenter Feb 2012 #27
Please note that the Federal government did much the same thing... ProgressiveProfessor Feb 2012 #37
I wonder if Kodak is also planning to end executive compensation primavera Feb 2012 #30
I would bet they get bonuses after all is done. liberal N proud Feb 2012 #32
Message deleted by the DU Administrators safgertrt Feb 2012 #31
If corporations are people The Wizard Feb 2012 #33
This message was self-deleted by its author WestSeattle2 Feb 2012 #34
It's safe to assume that all those demanding Kodak honor contracts they agreed to when they WestSeattle2 Feb 2012 #35
Giving up the home to foreclosure if you cannot or will not make payments is part of the contract.. Fumesucker Feb 2012 #48
As with any financial contract, if you cannot or will not make payments than you WestSeattle2 Mar 2012 #65
I don't understand how this works? stuffmatters Feb 2012 #39
what kinds of pay cuts are CEO's and SemperEadem Feb 2012 #40
Because of ballooning pension costs, I suspect we are going to see a lot more of this Yo_Mama Feb 2012 #41
Could this turn out to be a GOOD thing in the long run, as more workers see the need for CTyankee Feb 2012 #42
We were all always reliant on Medicare Yo_Mama Feb 2012 #43
I know very well the costs of what is left out of Medicare. CTyankee Feb 2012 #44
Eeek Yo_Mama Feb 2012 #47
OK. So far so good. Nerve damage takes a LONG time to heal, and maybe then only at a certain CTyankee Feb 2012 #52
Socialization of corporate debt. truthisfreedom Feb 2012 #51
Any contract between an individual and a corporation is a one way street flexnor Mar 2012 #63
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