Comments on: MLB now acknowledges that owners are discussing changes to the pension plan

By: Francisco (FC)

Francisco (FC) — Thu, 21 Mar 2013 23:26:40 +0000

DL? No wait, that acronym is taken. DF, Designated Fibber.

By: nfieldr

nfieldr — Thu, 21 Mar 2013 18:31:25 +0000

alexo, you beat me to it. With this story and with the R. Braun Biogenesis story, it appears that Manfred is the MLB designated liar

By: heyblueyoustink

heyblueyoustink — Thu, 21 Mar 2013 15:43:30 +0000

Agreed, that’s really the point I was trying to get across. I believe they were on their way out of business or sold off either way.

But the excuse, or catalyst, for the giant layoff, was indeed the smallest of the Unions holding things up.

By: historiophiliac

historiophiliac — Thu, 21 Mar 2013 15:18:19 +0000

Well, if it makes you feel better, those drones may be made in the USA. Our governor is trying to lure that business to the Frying Pan. (Yeah, we’re a test ground.)

By: heyblueyoustink

heyblueyoustink — Thu, 21 Mar 2013 15:06:06 +0000

He does what he has to, I respect him for it, Historio, in fact he views it as an opportunity to look into a more “in demand” field training/schooling.

And as far as those drones go, you’re literally hitting close to home, not only in the idea that someone could put on a White House Memo ” OK to use on American Citizens without Judicial approval” and the fact that their putting a new drone command center practically in my back yard while trying to sell to us that there won’t be any drones there.

2+2= what the hell are we doing here.

By: historiophiliac

historiophiliac — Thu, 21 Mar 2013 14:56:10 +0000

That’s what they count on: that you’re willing to become the working poor. If you don’t say no, they will continue to squeeze. I don’t know how your friend’s family can make it with cuts like that. Most likely, a majority of those employees would’ve had to get second jobs and maybe try to qualify for public assistance — when before, they were middle class and had time for their families. I don’t know how he could make much use of a 401K (and I sure as hell wouldn’t want stock options in the company) if he was making in the 20′s with a family. The benefit of a layoff like that is that those employees can draw unemployment and qualify for retraining. That’s what I want my tax dollars to go for — not freaking drone strikes.

By: sportsdrenched

sportsdrenched — Thu, 21 Mar 2013 14:48:41 +0000

The “take over specialists” propped up Hostess after their first Bankrupcy in the mid-aughts. There is lots of blame to go around at Hostess. From the management to the unions. In 5 years, if not sooner, it will be studied in MBA classes on what not to do. Along with Kodak.

By: jarathen

jarathen — Thu, 21 Mar 2013 14:47:14 +0000

And that’s what sucks. It’s either taking a treading water at best wage or finding a new job because of corporate mismanagement that no one has to answer for. It’s madness.

By: sportsdrenched

sportsdrenched — Thu, 21 Mar 2013 14:34:55 +0000

You’re confusing pensions with 401K’s (and similar tax sheltered retirement savings plans). Pensions are defined and entirely contributed to, and controlled by the employer. It’s compensation on top of the salary and other benefits.

401K’s you can have some control over the assets that are placed in it, but generally there are some perameters set fourth by whover manages the 401K program.

If you want total control you need to not contribute to the 401K, and go with a tax sheltered avenue outside your company.

As to this topic in general. Yes, lying is bad. So is jerking with retirements. If you’ve told employees that something will be there and then take it away, that’s bush league. However, I have no problem with them not vesting new hires in a pension.

By: heyblueyoustink

heyblueyoustink — Thu, 21 Mar 2013 14:17:17 +0000

See, here’s the thing. I don’t have an opinion on Unions in general, but a good friend of mine, one who was in the Majority Union, went from having a job to not having a job along with thousands of other people, because a small few decided to share your viewpoint.

Like I said, the firm that ran them for the past however many years should be investigated, I think what they did was criminal, but as my good friend who went from Salary, health insurance, and 401K to delivering pizza says ” I’d rather the pay cut than losing my job “.

By: Detroit Michael

Detroit Michael — Thu, 21 Mar 2013 13:52:32 +0000

Without knowing the details of MLB’s new retirement design, in general federal tax law will prohibit active employees from transferring (technically a distribution and rollover transaction) money from the employer-sponsored plan to their own IRA until the employee has a distributable event such as termination of employment or attainment of age 59½. What you are advocating generally is not allowed. (I won’t get into whether it’s a good idea.)

By: historiophiliac

historiophiliac — Thu, 21 Mar 2013 13:27:38 +0000

The stubbornness of a minority union not to agree to get screwed just because the bigger union was? What a bunch of jerks. I can’t believe they were so unwilling to take another paycut so they’d go from making about $45K to less than $30K in <10 years. How dare they draw a line in the sand and take their chances w/ new management (which they effectively forced to happen). Oh, and, yeah, upper management still got their money.

By: heyblueyoustink

heyblueyoustink — Thu, 21 Mar 2013 13:18:51 +0000

Ah, Twinkies.

While the management of that company over the past half decade has been nothing short of criminal ( I believe they should be investigated ) , as someone with a personal connection to that whole thing, please keep in mind it was the stubborness of a minority union, even after the majority unions had agreed to compensation restructuring that ultimately led to the decision to torpedo Hostess in it’s entirety.

Look into it, the union head of the majority union chastizes the minority union over the whole thing at one point.

But as for the Twinkies:

“Oh, this Twinkie thing, it ain’t over yet.”

By: alexo0

alexo0 — Thu, 21 Mar 2013 13:01:56 +0000

In other words, Robert Manfred is an effin liar.

By: chill1184

chill1184 — Thu, 21 Mar 2013 13:01:30 +0000

I hope the employees that this affects realize that they should move their retirement savings into something that they control

By: jarathen

jarathen — Thu, 21 Mar 2013 12:56:34 +0000

What a crock. I’ve seen so many companies do well and yet somehow the health insurance gets worse, the pay isn’t increasing with inflation, etc., while CEOs continue to rake in the cash. Heck, the takeover specialists who ran Hostess into the ground still made millions just to stay on and sell of pieces of the company.

It’s like ’80s guy from Futurama never left us at all, even with bonitis.