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Memories From The '97' Strike........
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<blockquote data-quote="TechGrrl" data-source="post: 1024937" data-attributes="member: 4932"><p>Yeah, not buying that argument, Charley. I mentioned individuals not having the luxury to hang tough, but the pension funds, even while paying out pensions, had money coming in. And 'professional' managers should have been able to ride out a couple of years of bad returns. The stock market fell off a cliff in September 2008. By October of 2009, it was back above 10000. So, the funds are so poorly managed they can't ride out a 1 year storm? Bad, very bad management.</p><p></p><p>You guys should be negotiating for your pension funding to go directly to a personal retirement account under your personal control if that's the best the 'professionals' can do.</p></blockquote><p></p>
[QUOTE="TechGrrl, post: 1024937, member: 4932"] Yeah, not buying that argument, Charley. I mentioned individuals not having the luxury to hang tough, but the pension funds, even while paying out pensions, had money coming in. And 'professional' managers should have been able to ride out a couple of years of bad returns. The stock market fell off a cliff in September 2008. By October of 2009, it was back above 10000. So, the funds are so poorly managed they can't ride out a 1 year storm? Bad, very bad management. You guys should be negotiating for your pension funding to go directly to a personal retirement account under your personal control if that's the best the 'professionals' can do. [/QUOTE]
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