the blue robot
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con-way freight
first off sorry for going off topic! i sure hope nothing happens to our pensions or bene's cause thats why i came here in the first place, might i have to leave???Lawofone said:Now something happen in trucking. In 1983 there was a holding company that started up a new company with plans in the future to eliminate a part of itself that had a third party encroachment to it`s plans. So in 1996 the holding company, spun off part of itself to itself to maintain control over it`s plans for the future. With people sitting on the compensation and audit boards of the freshly spun off part knowing what was going to take place in the near future, helped change this new spun off part to an operating company, to make things look good on paper. Now let us fast forward to 2002, and low and behold our operating company files for Chapter 11 ( reorganization ) bankruptcy and puts 20,000+ people out of a job, out of pension money, just out on the street; period. While this was taking place, some of the top people jumped back to the holding company as if nothing happen. After the bankruptcy was filed the operating company reversed back to a holding company. On paper this looks good. Let`s keep the shareholders happy. Looking in on today`s dealing, that is 2006, you will find that the holding company has changed to an operating company and is ready to do the same thing again. Do we see a pattern starting to develope here? Just look at recent headlines of what is going on with big corportations and ask yourself if you will be the next to be put out on the street. Will you lose your pension, and have the doors close on you? If that happens, what would you do?