The frequent fliers who flew too much

Re:The frequent fliers who flew too much by chaostheory on Monday May 07, 2012 @12:40AM (#3937614)

I can't help but think of the deal GM struck with the unions back in the mid 20th century. Lower immediate wages for a nice retirement pension. Little did GM know about the trend of longer life spans.

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Re:The frequent fliers who flew too much by acdha on Tuesday May 08, 2012 @09:18AM (#3943441)

Also worth noting that GM, like almost all US corporations, chose to under-fund their pension system. Assuming that most of your retirees will die early is like assuming that your stock return will average 8% annually but they've waged a successful PR campaign convincing people that this wasn't an epic managerial botch.

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Re:The frequent fliers who flew too much by scarmig on Monday May 07, 2012 @02:14AM (#3937843)

Well, the people making that deal didn't have their incentives aligned with the incentives of the people on the shop floor.

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Re:The frequent fliers who flew too much by lurker14 on Monday May 07, 2012 @10:21AM (#3939080)

More like "lower immediate wages for someone else's problem in the future -- maybe we'll have plenty of money to pay, maybe we'll just file bankruptcy, maybe we'll get a bailout"

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