More details to follow. If I heard correctly, Ford Motors and the UAW have reached an agreement for Ford to partially fund their pension plan with FORD STOCK. Can you imagine if your employer paid you or funded your pension with company stock instead of money?
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Ford Stock
- Thread starter Rockslinger
- Start date
Happens quite often in my sector.
Think Magna International!
No pension plan but their profit sharing plan consisted of a % of the yearly profits to each employee based on length of service. Of the % to each employee, part was in cash and part was in Magna stock.
My last employer did the exact same thing. Part cash and part stock. Even through this recession they made SOME money. Was laid off in October and my portion consisted of about $300 cash and a few shares of low dollar stock
Whoopie! I guess its better than a kick in the ass with a steel toed boot.
Think Magna International!
No pension plan but their profit sharing plan consisted of a % of the yearly profits to each employee based on length of service. Of the % to each employee, part was in cash and part was in Magna stock.
My last employer did the exact same thing. Part cash and part stock. Even through this recession they made SOME money. Was laid off in October and my portion consisted of about $300 cash and a few shares of low dollar stock
Whoopie! I guess its better than a kick in the ass with a steel toed boot.
Hangman said:Man, you sure do like the pension stories...
Actually, I am a "5 Forum" guy now that I am "between projects" but I think that pensions should be of interest to all of us unless you are a 21 year old escort making $300 an hour.
calvin & hobbes said:Was laid off in October and my portion consisted of about $300 cash and a few shares of low dollar stock.
$300 and a few pieces of paper is what I use to spend almost every night during the "good times" (remember 2007 and early 2008?) at civilian bars and restaurants finishing up the night in an SC.
Were you this concerned about pensions etc when you were wasting $300 a night in bars?Rockslinger said:Actually, I am a "5 Forum" guy now that I am "between projects" but I think that pensions should be of interest to all of us unless you are a 21 year old escort making $300 an hour.
I'm not worried. I picked a recession-resistant industry and work part time for the federal government. I invest my money today with the future in mind. What's left over I give to 21 year old escorts.
Dude, you need to get a job.
