HAS ANYONE ELSE THOUGHT HOW COINCIDENTAL IT IS THAT THE STOCK MARKET WHERE MANY HAVE LOST THEIR SAVINGS, IS IN A BEAR MARKET NOW, COMES AT A TIME WHEN BABY BOOMERS ARE ABOUT READY TO COLLECT THEIR FUNDS?
MANY HAVE LOST THOUSANDS, AND I FIND THIS A LITTLE TOO CONVIENT FOR THE COMPANIES INVOLVED!!!!

I like conspiracy theories. I'm sure a case can be made for your position. Let's start with there were lots of you who insured that the previous generation would get their social security. Now there are too many of you, and not enough workers to insure that you get yours. Depression would probably cancel that obligation or maybe war on a grand scale would re-boot our economy.

Half the problem are the IOU's that the government is holding for raiding the SS "Trust Fund"

quote:

Originally posted by Easy:
Depression would probably cancel that obligation or maybe war on a grand scale would re-boot our economy.

And what a lovely choice it is.....!

EASY, GREAT POST.
LOOKS LIKE THE BARRY GOLDWATERS AND REAGANS WERE RIGHT.

I said it yesterday, the baby boomers are being punished. It's certainly no accident.

In addition to massive layoffs GM is cancelling health coverage for its employees over 65 years of age. Me too. Any of my alpaca that make it to 65 are on their own.

AT 65, SHOULDN'T YOU BE ENTITLED TO MEDICAIRE?

Lupo, what would you rather have, Medicare that doesn't pay for everything, and you have to pay 20% + a yearly copay, everytime you go to the hospital or doctor a set fee and a set fee when you are admitted to a hospital that is several hundreds of dollars, or a good private health plan that pays everything. No deliema there!

Many people fought long and hard for these benefits and now with the bulk of the baby boomers ready to retire and use these benefits KABOOM they are taken away! And there isn't a damn thing you can do about it!!!!

quote:

Originally posted by Bronx Shepherd:
In addition to massive layoffs GM is cancelling health coverage for its employees over 65 years of age. Me too. Any of my alpaca that make it to 65 are on their own.

GM can't cancel something they have no control over, with the last contract signed, the health benefits were put into a trust under the control of the UAW, so all former and current workers are protected, that is for all members of the UAW.....not salaried.

quote:

Originally posted by Bronx Shepherd:
In addition to massive layoffs GM is cancelling health coverage for its employees over 65 years of age. Me too. Any of my alpaca that make it to 65 are on their own.

Well, that's just very mean to the poor alpaca! What are those poor creatures going to do if you let them go? They've been loyal all these years, and for what?? Maybe I can fit them on my terrace.....

quote:

Originally posted by Suzie:

quote:

Originally posted by Bronx Shepherd:
In addition to massive layoffs GM is cancelling health coverage for its employees over 65 years of age. Me too. Any of my alpaca that make it to 65 are on their own.

GM can't cancel something they have no control over, with the last contract signed, the health benefits were put into a trust under the control of the UAW, so all former and current workers are protected, that is for all members of the UAW.....not salaried.

I hope you're right Suzie. I'm pretty sure I heard it on the radio the other day. Nowhere else and not since.

BS I saw it on the news a few nights ago, and the health benefits are being discontinued for their retired employee's. Many of those affected were worried that they could not get a supplement insurance policy if they had a pre-existing disease.Most of these benefit cuts are affecting white collar workers, or salaried employees past and present.

I read it in the paper today, too. All 'retired employees' over 65 have had their health benefits cut...

No, I think Suzie is right. The unionized employees do not appear to be affected. From today's USA Today...

"GM said it is eliminating salaried retiree health care, a move that could spark other companies to follow suit.
As of January 1, 2009, health care coverage for retirees over 65 years old will disappear. In its place, the automaker will increase pensions to help offset the cost of Medicare and supplemental coverage.
Dan Osterndorf, a consultant at Towers Perin who specializes in the auto industry, said that decision allows GM to tap into its pension pool, which is overfunded, to pay for health care."

I guess Osterndorf is saying that this will enable GM to continue providing healthcare to its salaried workers and retirees under 65. This was not made clear.