Lee Iacocca is losing his pension and company cars

[Tempest]

 Originally Posted By: PandaBear

What is so amazing that when a company is bankrupted, someone will not get 100% of what they were owed?

What is so amazing is that the Gov. is using it's position to break contracts and bankruptcy law to benefit people of it's choosing. And you are defending them.

 

[Gary Allan]

Well, who is allowed to get screwed in bankruptcy court, Tempest? UAW members is #1 on your list, and anyone of presumed station ..unfairly so?? Did I bat a thousand on that one?? Life can only be unfair for some people. Others, it's strictly anti-American

 

[Shannow]

The ones who generally get screwed down here are the workers who were silly enough to turn up to work, and accumulate leave, they usually lose most/all of it. Their retirement "entitlements" that their employer has been trading with go down the toilet also.

 

[Gary Allan]

Hey, Shannow, they knew that it was a speculative venture when they got hired. Life involves risk ..that's why they entered into it ..for the potential benefits. Most of the time they gambled and it worked out. They got a paycheck for the work they performed. There are no guarantees ..even if allegedly honest people, who gain great sums of money in the process, can't make good on their promises that they entered into in alleged good faith.

 

[PandaBear]

 Originally Posted By: Tempest

What is so amazing is that the Gov. is using it's position to break contracts and bankruptcy law to benefit people of it's choosing. And you are defending them.

Do you think Lee Iacocca will be ahead of the secured creditors even when the government is not involved? Do you think Golden parachutes will be ahead of the secured creditors? Your blast against anything government related, even in the use of pirate negotiators which buys time for the special ops to prepare the rescue mission, is the only thing amazing here.