Word: pension
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Letter Writer William N. Thompson [Oct. 15] says, quite insultingly, that "a healthy [worker] voluntarily living on a pension financed for the most part by today's productive workers is living on welfare ... If a person freely chooses leisure, he should not expect the productive working force to pay for it." I am going to voluntarily choose leisure next spring because there are other things I want to do, but it will be paid for by my money, the Social Security salary deductions I have been paying since the program started in the 1930s. How dare...
...boardroom was part of a trade in which the U.A.W. chiefs let Chrysler off with an easier three-year wage pact than those recently signed with General Motors and Ford. The company will save about $200 million by deferring payments into its pension plan next year and a further $203 million over the next two years by delaying some wage raises and benefit improvements. By the end of the three years, however, Chrysler workers will be earning the same as GM and Ford employees, and the industry's hourly labor costs-wages, fringe benefits and pensions-will have jumped...
...times in 1978 alone, costing the papers $5.6 million. In return, the unions were given generous severance payments (an average of $26,000 per worker), better wages (up between 20% and 45% over two years), an extra week's vacation (for a total of six) and substantially improved pension and sick-pay formulas...
...INTERESTS in Muny Light are clear; the next question is why Cleveland Trust backs them. Cleveland Trust controls 2.2 per cent of outstanding CEI common shares, registers CEI stocks, lends it large sums of money, manages a $70 million CEI pension fund and four bank accounts, and even has an interest in the utility's building. Cleveland Trust directors serve on CEI's 11-member board...
...urging of the front-line leaders, Nkomo and Mugabe adopted a face-saving compromise and rejoined the talks. They dropped their objections to guarantees of white citizenship and pension rights, leaving the land settlement as the only outstanding issue to be resolved. Carrington's assurances, backed by the promise of U.S. aid, removed that obstacle...