Freightmaster1
TB Legend
- Credits
- 613
:pirate2: Just a thought...If another company like DHL was considering buying Conway, and all the financials looked good, EXCEPT the pension fund liability, what would Conway do to make the purchase a lot more attractive to DHL! Of course! They would try to reduce the pension fund liability to DHL by changing the defined benefit plans to defined contribution plans/401K plans. They could do this by freezing the defined benefit pension plans, and eliminating the defined benefit plans for new hires. They could then offer enhanced 401k plans to the "frozen out" former defined pension participants or give them some enhanced "benefits" that would look real good on paper. This is just a thought, but I've talked to more than one person who thinks this is just what Conway will do to make whoever buys them happy! No company wants to take on any huge pension liability today. Conway execs will spin this one good, and try to get you drivers to buy it! BEWARE! And fight like cats and dogs to keep your defined benefit plans! Some of you guys have been around for 22 plus years and can't "start over" in some bogus 401k plan with a lot of false promises. Do some research and find out for yourselves. Good luck and let us know how you make out!
freightmaster 1
freightmaster 1