Retirement Heist Reviewed In The New York Times

Bryan Burrough of The New York Times recently reviewed Retirement Heist: “THE world needs more newspaper reporters like Ellen E. Schultz of The Wall Street Journal. For nearly a decade, Ms. Schultz and her colleagues have been rooting through the minutiae of accounting regulations, government filings and corporate retirement plans to expose how many of the largest American companies have systematically plundered their employees’ pension funds, at once robbing their workers of hard-won benefits and enriching their own profits.” Read more »

4 Responses to “Retirement Heist Reviewed In The New York Times”

  1. William Lekas October 27, 2011 at 6:20 pm #

    Over the years we saw Enron then Worldcom completely rip off their employees with “creative” financing and exploiting pension funds to hide malfeasance and bad business. It was criminal and of course we need to do something about that . . . what has been done has not fixed anything and now the same malfeasance is spreading to the government as they blame employee pensions as the cause of their financial problems. Blaming and cutting salaries and pensions for employees is not the answer and will continue to destroy our economy. Not only will it continue to wither the economy away, the people who are in public service will not be able to provide the services necessary for a healthy economy . . . or should we revert to anarchy and let those “smarter” than us run the show? And what has that done for us to this point?

  2. Mike December 15, 2011 at 5:49 pm #

    I think what is forgotten, is how defined benefit pensions came about. How about Corporations and employers being “incetivized” with tax breaks from high tax rates, that ended up reducing taxes, “incentivizing” employers to provide Defined Benefit Pensions, reasonable Health care plans, dental plans, and adoption services.
    When the tax laws were changed, effectively lowering the tax rates and removing the “incentivized” taxes to support these benefits plus allowing the Corporations to steal, like the executives of IBM, did, led to where we are today, loss of 100,000 pension plans and the taxes the Corporations received providing them.
    We need to change our “Tax Laws” raising them, to again, incentivize Corporations to provide to their employees benefits.
    Unlike today, most have been removed. Really sad, those “how to steal from employees and retirees of the human resource creeps” mentioned in Helen’s book.
    History will record the theft of Pensions as one of America’s darkets times, if we survive it without a Revolution.

  3. Jim McGuffey January 22, 2012 at 9:39 pm #

    I’m just thankful for people like Ellen Schultz who have the talent to earn more money by joining the dark side but have chosen to make a difference in the lives of Americans who work so hard hoping to enjoy a retirement dream.

  4. The Sanity Inspector January 28, 2012 at 10:52 pm #

    The NYT review is rather silly. All that technical detail made the reviewers eyes glaze over? Well, that’s kind of the whole point–last one awake gets to loot the pension funds!

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