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<blockquote data-quote="Bubblehead" data-source="post: 961671" data-attributes="member: 14176"><p>Opening up the books is a very real part of contract negotiations.</p><p>This is how they know where to draw the "line in the sand".</p><p>A good portion of the financial woes being felt within most multi-employer pension funds can be linked to the instability and corruption within the stock market.</p><p>With the Enrons and Worldcoms, coupled with the banking fiasco of the last decade, pension funds have seen their investments evaporate.</p><p>While the rest of us rebound, these pension funds continue to pay out benefits and cannot realize the same recovery as an individual with a 401k.</p><p>Bottom line, it's not the Teamsters that drove these companies and pension plans into the ground.</p></blockquote><p></p>
[QUOTE="Bubblehead, post: 961671, member: 14176"] Opening up the books is a very real part of contract negotiations. This is how they know where to draw the "line in the sand". A good portion of the financial woes being felt within most multi-employer pension funds can be linked to the instability and corruption within the stock market. With the Enrons and Worldcoms, coupled with the banking fiasco of the last decade, pension funds have seen their investments evaporate. While the rest of us rebound, these pension funds continue to pay out benefits and cannot realize the same recovery as an individual with a 401k. Bottom line, it's not the Teamsters that drove these companies and pension plans into the ground. [/QUOTE]
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