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Post by calsibley on Sept 26, 2005 15:30:00 GMT -5
According to Rocky Rabb, usually quite the reliable guy, Remington has a $29 million shortfall in its pension plan, more than it can expect to recover through the sales of its products. That's all I've heard so far. Maybe someone else can expand on this. Anyone heard about this? Best wishes.
Cal - Montreal
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Post by klsm54 on Sept 26, 2005 17:18:53 GMT -5
Here is the scoop, right from Tommy Milner's mouth, regarding the pension shortfall.... www.sportstrend.com/sportinggoodsbusiness/headlines/article_display.jsp?vnu_content_id=1001097216 I would only be guessing, but it sounds like it could be a corporate ploy to reduce costs by poor-mouthing in order to get it's employee's to take concessions. After they get everybody to accept cuts, it's business as usual. Again, I'm not saying that this is the case with Remington, just that it COULD be. On the other hand, pension obligations are a growing problem for US corporations. Too many people drawing from them for too many years. That, and smaller work forces, due to increased competition and more efficient manufacturing processes, equating to less money going into the funds. That is why company provided pensions will become a thing of the past over time. Matching funds in 401k's make more sense from the company standpoint. They pay their entire obligation up front, while the employee is working, leaving no future payments or potential shortfalls. And that's not all...... www.herkimertelegram.com/articles/2005/09/19/news/news01.txt |
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Post by calsibley on Sept 26, 2005 18:51:54 GMT -5
I guess we'll just have to watch and see where it goes. Right now I don't really know a lot about the issue. I guess we'll stay in the dark a while longer. I'm not really surprised at power moves being made against pension benefits. This has been a major bone of contention for quite some time now. We can only hope for the best.
Cal - Montreal
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Post by calsibley on Oct 6, 2005 12:59:35 GMT -5
For those of ypu who are interested the topic covers a lot of ground on accuratereloading.com
in the Gunsmith Forum section. I don't knoiw why it's in that particular section, but it is. There are some interesting viewpoints put forth along with a litle ranting. It makes a pretty good read. Best wishes,
Cal - Montreal
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Post by Purebred Redneck on Oct 6, 2005 22:41:29 GMT -5
I haven't read the other forum, so I don't know if I'm repeating someone or not.
It's going to affect the consumer very little. You'll probably find more quality control issues and a few more plastic parts. But the prices should stay about the same.
Naw, who's going to get the shaft is the workers. Laying people off, working the rest overtime, taking away vacations, etc. That's the ussual steps in something like this - in my opinion.
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