This is why you don't stay loyal to a company. They will *never* stay loyal to you, the worker.
@darrenpokorski7756
3 жыл бұрын
wasn’t mohammad a paranoid schizophrenic pedophile. Yes he was. Also was a midget(I think technically a dwarf, I might have my definitions mixed up) that wore woman clothes.
@bouffant-girl
2 жыл бұрын
Exactly! Corporate America uses it's workforce to make money 💰. Beyond that, Corporate America has no loyalty to any of it's employees 🙄
@levi2954
4 жыл бұрын
I feel so much better now that the media is telling me everything is fine.
@Michael-ot9bk
4 жыл бұрын
LOL.
@TheNaturalebeauty
4 жыл бұрын
I love the sarcasm
@KA4UPW
4 жыл бұрын
If its such a small thing then why screw the employees.. Ill i hear is the orchestra playing as the ship goes down.
@chocolat4hogs
4 жыл бұрын
Yet again, Managing America's downfall, 1 company, 1 pension, 1 retiree, 1 worker at a time.
@michealbay1290
4 жыл бұрын
ALLAH ALMIGHTY destroys the nations of f@ggits and false god jesus worshippers among others. ALLAH ALMIGHTY Praised be
@hOtneO
4 жыл бұрын
Why does this always happen right before the holidays? Layoffs, relocation outside the country, and company bankruptcies timed around the holidays. They know these problems exists for years or months and this is going to piss a lot of people off.
@77chevy4x4
4 жыл бұрын
hotneo7 because the summer vacations drained the accounts .
@marywheeler6676
4 жыл бұрын
Meltdown only the beginning.Sorry sir your bank account is 💲o.oo😐.
@benhendricks260
4 жыл бұрын
This should be CRIMINAL.
@illuminatedcrosshairs7865
4 жыл бұрын
I worked for ( this company 😳)for almost 20 years in the power generation sector. 12 of those years I worked in quality control in final assembly of 20-40 million $ gas turbines. I was forced by supervisors and managers to sign off on the final assembly of many totally inferior and defective units. I also watched other quality control inspectors forced to do the same and as in my case their jobs threatened if they did not. Myself and others decided to basically put our jobs on the line and collect and document evidence of ( this company 😳)massive corruption and deceit of every single phase of production. This took several years but was easily documented because of their complete lack of trying to hide any of their corrupt daily business decisions including thankfully documents that proved illegal business practices including to the government. ( which they had already been in trouble with before) we hired several lawyers and started a class action lawsuit. After several mediation meetings with lawyers from both sides, ( this company 😳)for once decided to do something intelligent and settled out of court for a ( undisclosed) amount of $$$ that I cannot say. When I went to work for them I thought they were one of the best companies anywhere to work for, the salary and benefits were outstanding. Unfortunately I learned very quickly just how corrupt, deceitful this multi billion dollar business operated on a daily basis in every aspect . Knowing what I do about this company, I would not ( waste) $2 on a lightbulb they manufactured because it will probably burn out in less than a week... All of this comment is solely just my opinion 😳😳😳😏
@CelonixCleaningServicesLLC
4 жыл бұрын
This kind of stuff doesn’t happen when things are going “good”.
@TheMrgoodmanners
4 жыл бұрын
Harry markopolos mst be grinning slyly at this news
@igorsanchez408
4 жыл бұрын
TheMrgoodmanners I watched an interview that mr. markopoulos gave. After doing his investigation of GE's books-- the dude called the cops... I think that tells me everything I need to know right there....
@donkalzone6671
4 жыл бұрын
There are many hints that in GE is something fishy. -Their revenue drops permanently /company shrinks -Their fundamentals are not great -Markopolos rings the alarmbell -an ongoing tradewar -recession ahead And now this... But still those idiots keep telling us everything will be fine just like in the old days.... Sure
@cujoemblakka1041
4 жыл бұрын
Cut executive's pay, for underperforming, how are pensioner's responsible for your mismanagement? I remember when Jack Welch was making over a hundred million plus bonus. Cut the fat from executive pay and bonuses. Some of them is just pure died weight.
@np494609
4 жыл бұрын
Oh that's cute, forget about the executive bonuses and annual comp. pathetic
@harrisonwintergreen1147
4 жыл бұрын
Never count 100% on getting a pension. There's plenty of blame to go around on this subject - unions pushing for unrealistic benefits, companies mismanaging the pensions. Point is the pension is never under your control - it's an asset in the employer's books. Always keep a Roth IRA on the side so you are not dependent on the company pension fund.
@baddealer8914
4 жыл бұрын
Wheres The Bailout Money For These Pensions...
@coinbitxy
4 жыл бұрын
Paid Puppet! Quote - "This is something the employees should have been prepared for."
@williamwilson6499
4 жыл бұрын
Should of?
@criticalwealththeory
4 жыл бұрын
take the buy out and run....
@carinwiseman4309
4 жыл бұрын
How can this be legal?
@harrisonwintergreen1147
4 жыл бұрын
The pension is an asset of the company. The pension does not belong to the workers. This is why nobody should rely 100% on a pension. Always keep a Roth IRA or other retirement account that you own
@johncunnane3334
4 жыл бұрын
Payoff the politicians
@1209Misty
4 жыл бұрын
They need to all get together and sue!!
@TheEviIOyo
4 жыл бұрын
If they had invested 80% of their paychecks they wouldn't need pensions
@tsav6952
4 жыл бұрын
Just a few years ago they were buying back their own stock. The GE board was totally negligent. Criminals!
@clarkgordon5724
4 жыл бұрын
this guy doesn't care about the pensioners
@oibal60
4 жыл бұрын
And the CEO's reduced their pay and benefits too??? (crickets)
@TB-rx1ue
4 жыл бұрын
All these ppl complaining about this... in the market, pensions are unheard of. Also their new 401k plan is VERY generous... (8%?!) Also I doubt I will be taking the pension payout.
@turboredcart
4 жыл бұрын
whats a pension?
@leowang7893
4 жыл бұрын
if GE shut down. who gone make jet engine? all business going to RR ?
@kris8742
4 жыл бұрын
P&W
@elvism684
4 жыл бұрын
New GE will make the jet engines. Just like New GM make cars after GM went bankrupt. They declared banckruptcy to get rid of the pensions. I think that is what GE will look into doing.
@heatherb.4302
4 жыл бұрын
Sounds what my employer did years back. No pension plans now- inatead they do core retirement contribution of 3% of your yearly salary once in March for the prior year salary (even if we dont put in a penny), and thehmy also match our 401k contributions up to 7%
@35INHUMAN
4 жыл бұрын
I guess you shouldn’t have sold the appliance section of the company. Such a great company brought down by poor management.
@andy-ti9zf
4 жыл бұрын
buybacks gone bad?
@Traveler-PKK
4 жыл бұрын
So anyone who was employed with the company prior to 2012 and may be ready to retire no longer gets a true pension but some 401K plan. Sounds like the really screwed the employee. I'll bet the CEO's get a big as bounus and true retirement pension. Also, this will cause a trend for other companies to follow ie.. meaning the end of any true retirement. As long as the stock market is good - you are good.
@Jdalio5
4 жыл бұрын
Once apon a time a slick talking credit default swap salesman met the CFO of GE and said what if I can grow your revenue without doing a thing, just leverage all assets 100:1?
@TECHN0
4 жыл бұрын
Don’t bet against Harry Markopolous!
@mcoehlrich
4 жыл бұрын
Looks like someone is freeing up cash for some upcoming charges a certain whistleblower report outlined...
@mbrad8544
4 жыл бұрын
Excellent analysis
@beau6113
4 жыл бұрын
They’re fine. They’re just selling off every piece of furniture in the house, but it’s ultimately a good thing because when they’re done they will have an empty house and no debt. It’s even better for the residents because now they’re being given the option to go purchase inflatable furniture just like most other residents in other houses.
@freddieflintstone5544
4 жыл бұрын
The end is near for GE. They have been selling off parts of this once great company. They will file bk in the next 2 years and the remaining divisions will be sold off.
@AnhTuPhucDerrickHoangCanada
11 ай бұрын
Is this about vps at GE????
@Virtualvinyilradio
4 жыл бұрын
😂 LMAO... he said “it’s a little bit of both” he’s a clown
@bidorcheng
4 жыл бұрын
Why not claw back executive compensation?
@harrisonwintergreen1147
4 жыл бұрын
In 2018 GE CEO Larry Culp signed a 4 yr contract worth about $20 million. They would need to claw back 1600 years of that compensation to make up for the $8 billion pension shortfall
@bidorcheng
4 жыл бұрын
@@harrisonwintergreen1147 they can clawback compensation from previous executives and other executives other than CEO.
@DanafoxyVixen
4 жыл бұрын
@@harrisonwintergreen1147 "They would need to claw back 1600 years of that compensation to make up for the $8 billion pension shortfall" Why are you making excuses? strip it regardless, even if it didn't cover the full shortfall... at least its a friggin start
@soldierz18
4 жыл бұрын
I recalled Mr. Markopolo predicted something like this last month.
@heavenstomurgatroyd7033
4 жыл бұрын
No company owes you a cushy retirement. It's up to you. Companies collapse. Your retirement is solely your responsibility. Either work the system to your liking or follow the lemmings off the cliff. A car payment a month for thirty years will make you a millionaire. Use excel and figure it out. I'd rather drive a crappy car and then retire early. I retired when I was 52 not because I could but because I planned for it. Nobody ever acused me of being Einstein either............
@ddbol8586
4 жыл бұрын
Harry Markopoulos!!!
@mrwonderful2142
3 жыл бұрын
Could this be the result of their enron type accounting scam?
@Ahenkel36
4 жыл бұрын
The little man always get screwed how about the people at the top cut their pension plans take a pay cut this should never happen they made a deal when people were hired and they should have to stick by it retroactive where are their attorneys
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