Quote:
Originally Posted by Shek
Are we being very selective about what statistics are being used?
What was the asset vs. liability position of Ford's pension in 1988? 2000? all the other years?
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Honestly, I couldn't readily find the data on the other years for free. Ford in it's contracts created future obligations to it's employees who agreed to those non wage benefits in good faith. Ford did not plan well for them and now claims it can't afford them going forward. I can't say either way. Did they make horrible miscalculations and therefore it was poor business planning and if it bankrupts them and Toyota gets to buy them it's market capitalism at work right? Did they pass on what should of been pension investments to shareholders in which case it's fraud in the moral sense of the word.
I would agree the unions need to make some concessions. I also understand the mistrust they have. Do you remember the bonuses Delco execs gave themselves after the unions gave back compensation already promised?