News, GM suspends payments into 401K plans (pension, tax, jobs)
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Location: Georgia, on the Florida line, right above Tallahassee
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GM suspends payments into 401K plans - Yahoo! News (http://news.yahoo.com/s/nm/20081023/bs_nm/us_gm_1 - broken link) DETROIT (Reuters) – General Motors Corp (GM.N) is suspending matching payments to employee 401K plans as of November 1 and continues to assess its staffing needs as part of efforts to conserve cash amid a deep downturn in sales, the automaker said on Thursday.
I'm waiting to see if other corporates jump on that 401K bandwagon of cutting matching deposits.
What choices will they have before long ?
Oh, forgot about the Gov. Maybe they will step in and take over ALL the pension plans in the US and "guarantee" them with tax payer dollars. Ya know... BAIL out the retirement system ! They would LOVE to have the revenue to play with too. Not too far off base either. Heard this mentioned on CNBC a couple days ago.
Can you say SOCIALISM... We are just a hair away from it.
Oh, forgot about the Gov. Maybe they will step in and take over ALL the pension plans in the US and "guarantee" them with tax payer dollars. Ya know... BAIL out the retirement system ! They would LOVE to have the revenue to play with too. Not too far off base either. Heard this mentioned on CNBC a couple days ago.
Can you say SOCIALISM... We are just a hair away from it.
snippet:
"The move will put the government in control of almost $30bn (£18bn) of investments and is aimed at protecting them from the global market turmoil. "
snippet:
"The move will put the government in control of almost $30bn (£18bn) of investments and is aimed at protecting them from the global market turmoil. "
Ya well... get the fat lady ready to sing... we're next. The really sad thing is that most Americans would fall head over heals for this too. Majority of Americans are gullible and stupid people !
snippet:
"The move will put the government in control of almost $30bn (£18bn) of investments and is aimed at protecting them from the global market turmoil. "
Ya well... get the fat lady ready to sing... we're next. The really sad thing is, most Americans would fall head over heals for this too. Majority of Americans are gullible and stupid people ! Slowly but surely we are loosing the most important freedoms this country was founded on. Actually I think we have lost most of the important ones already... not too many left !
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