My Company Just Cut Off Our Retirement and Matching 401K
#71
12-17-2008 | 11:37 AM
I have not had any work in almost 3 months, the only ones we see working are the ilegals, which is really getting old. I have 4 full timers with familys, they are sick and tired of seeing workers form another country who came here ilegaly taking there work, and mine.
There are plenty and I mean plenty of Americans who want and need to work. No one in Washington is listening..........
There are plenty and I mean plenty of Americans who want and need to work. No one in Washington is listening..........
Last edited by ken thompson; 12-17-2008 at 11:47 AM.
#72
12-17-2008 | 11:43 AM
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From: La Vergne, TN
I was amazed at the spectrum of responses to this thread. Everything from "tough love" to compassion. We don't know if the guy is 35, 55 or 65 and how long he has to adapt to the new situation before he wants to, or has to, retire. Replanning and rebuilding may be an option, or it may not. Owning a bike is a luxury, but not a huge one. How long is the price of a used bike going to last a family?
I'd like to hope that his company is cutting back to stay in business and preserve jobs, and when business gets better the employees will share in the "wealth". But we all know there are ruthless employers with healthy businesses who would take advantage of the high unemployment rate to just raise their bottom line at the expense of their emplpoyees. We don't have enough info here to know what is the truth.
This guy could have been highly disciplined in saving and investing for the future through his 401K and other vehicles, and then just seen most wiped out due to the stock market and real estate fall (I am not going to even look at my portfolio until I have to to do my taxes, it is absolutely gut wrenching). Or he could have been spending everything on beer and chrome parts for the bike. We don't know.
What is certain is that any large change like this is a shock. Especially if he is over 50, because choices and options narrow a lot by then. Should he suck it up and move forward? Of course...and it sounds like he will. Could we be a little sympathetic as he deals with the changes? Yeah.
I wish him the best and that he can spend the holidays with family and friends. OK now, who wants to hold hands and sing Cumbiyah (or however you spell it)?
I'd like to hope that his company is cutting back to stay in business and preserve jobs, and when business gets better the employees will share in the "wealth". But we all know there are ruthless employers with healthy businesses who would take advantage of the high unemployment rate to just raise their bottom line at the expense of their emplpoyees. We don't have enough info here to know what is the truth.
This guy could have been highly disciplined in saving and investing for the future through his 401K and other vehicles, and then just seen most wiped out due to the stock market and real estate fall (I am not going to even look at my portfolio until I have to to do my taxes, it is absolutely gut wrenching). Or he could have been spending everything on beer and chrome parts for the bike. We don't know.
What is certain is that any large change like this is a shock. Especially if he is over 50, because choices and options narrow a lot by then. Should he suck it up and move forward? Of course...and it sounds like he will. Could we be a little sympathetic as he deals with the changes? Yeah.
I wish him the best and that he can spend the holidays with family and friends. OK now, who wants to hold hands and sing Cumbiyah (or however you spell it)?
After hearing about and seeing the many people who are in dire straits right now, sometimes I feel like I got a horseshoe up my ****. My company has been doing major downsizing for the last year. I've seen co-workers getting laid off with over 20 years on the job. I've had to lay off and cut hours to over 2 dozen of my employees, just in the little operation the I manage. It really sucks to have to do that to people, but in all honesty, it would suck worse to have it done to me. My 401k has fallen like a brick, the last 12 months, but thankfully, I still have one.
All in all, I feel blessed that my wife and myself still have decent jobs and are able to take the bike out and have some fun on the weekends.
I really hope things change for the better for alot of people soon.
#73
12-17-2008 | 11:48 AM
It's a sign of the times, I guess, and it was a really flippin' fine Christmas present finding out today that the people I give a healthy chunk of my life to are no longer going to provide for my old age. No more matching funds to our 401K, AND, they're freezing our pension plans after January, so YIPPEE... I get to work the rest of my life with no hopes of adding to my present meager monthly retirement.
To top it off, it's too crappy and cold to ride the scoot to work, which is rapidly becoming one of life's meager pleasures.
I know there's a bunch of you out there in the same boat as me know, and it sucks our wonderful country is going to the dogs like this, but it's comforting to know we can still travel anywhere we want, we're free, and we ride the best thing on 2 wheels.
Here's to all us hard working fools, and the bikes we love!
EGK
To top it off, it's too crappy and cold to ride the scoot to work, which is rapidly becoming one of life's meager pleasures.
I know there's a bunch of you out there in the same boat as me know, and it sucks our wonderful country is going to the dogs like this, but it's comforting to know we can still travel anywhere we want, we're free, and we ride the best thing on 2 wheels.
Here's to all us hard working fools, and the bikes we love!
EGK
Just remember you don't work for them as a favour to them ... unless, of course, you're doing it for free. I can only assume you are paid to do what you do. They are the ones doing YOU the favour by offering you further compensation than your paycheque.
I just talked to someone the other day, who got his first federal Pension cheque ... It totalled $543.00. THIS is what he would have to live on if he hadn't prepared his own pension fund. Pfffttt! It's sad really ... REALLY SAD!
This big 3 thing is also really sad ... Thanks to the dependancy on motor vehicles created over the years, these goomers have capitalized on the market and made kabillions! Now, they find themselves in dire straights due to poor management with a dependancy of their own. Now they stand in their Armani suits with their manicured hands out for help...while so many of societies businesses go bankrupt without so much as a whimper. Now THAT is really sad!
Last edited by bikergirl40; 12-17-2008 at 12:01 PM.
#74
12-17-2008 | 11:49 AM
Road Warrior
Stumbled on this thread cos the softail thread is boring at the moment..
Cant believe what im reading...you all own Harleys and are reading this on your personal pc.....yeah your poverty stricken ok !!!!!!
Get a grip! turn on a world news station then you will know what hard-ship is all about !
Some nice bikes by the way...
Cant believe what im reading...you all own Harleys and are reading this on your personal pc.....yeah your poverty stricken ok !!!!!!
Get a grip! turn on a world news station then you will know what hard-ship is all about !
Some nice bikes by the way...
#75
12-17-2008 | 11:53 AM
Companys are doing less running of the business these days. How hard is it to meet your budgets short comings by getting rid of people. If you (you or I) answered your daily work challenges by suggesting not providing services to your customers as a way out of heavy work volumes, they would throw you out on your ***. But those "STEALING" CEO-COO types who take millions of dollars over and over again dont see it that way. I dont care if they pay them 10 million per year salary, but these self-created buy out packages are an absolute disgrace.
How the hell can they say they did a wonderful job running a company for the 2-6 years there were there, and walk away with 25 million and then layoff or cut benefits packages within 6 months. Thats not running an effective businesss, that is putting a finger in a bleeding wound, then running for the door, instead of calling for a doctor.
And they go to school for that too?
Who is going to buy our US made products here in the US? We as a people should rise up and eat these greedy pieces of garbage people destroying this country. I work my azz off each day as I am sure most of us do. 20 years in the same company and now I am middle management. I love my job, do it well, and enjoy the people I work with, but these big companys need to stop the BS and start truly making money instead of cutting things out like jobs, benefits and such.
Ah, I feel great now.
How the hell can they say they did a wonderful job running a company for the 2-6 years there were there, and walk away with 25 million and then layoff or cut benefits packages within 6 months. Thats not running an effective businesss, that is putting a finger in a bleeding wound, then running for the door, instead of calling for a doctor.
And they go to school for that too?
Who is going to buy our US made products here in the US? We as a people should rise up and eat these greedy pieces of garbage people destroying this country. I work my azz off each day as I am sure most of us do. 20 years in the same company and now I am middle management. I love my job, do it well, and enjoy the people I work with, but these big companys need to stop the BS and start truly making money instead of cutting things out like jobs, benefits and such.
Ah, I feel great now.
#78
12-17-2008 | 03:26 PM
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From: Tucson, AZ
It's a sign of the times, I guess, and it was a really flippin' fine Christmas present finding out today that the people I give a healthy chunk of my life to are no longer going to provide for my old age. No more matching funds to our 401K, AND, they're freezing our pension plans after January, so YIPPEE... I get to work the rest of my life with no hopes of adding to my present meager monthly retirement.
To top it off, it's too crappy and cold to ride the scoot to work, which is rapidly becoming one of life's meager pleasures.
I know there's a bunch of you out there in the same boat as me know, and it sucks our wonderful country is going to the dogs like this, but it's comforting to know we can still travel anywhere we want, we're free, and we ride the best thing on 2 wheels.
Here's to all us hard working fools, and the bikes we love!
EGK
To top it off, it's too crappy and cold to ride the scoot to work, which is rapidly becoming one of life's meager pleasures.
I know there's a bunch of you out there in the same boat as me know, and it sucks our wonderful country is going to the dogs like this, but it's comforting to know we can still travel anywhere we want, we're free, and we ride the best thing on 2 wheels.
Here's to all us hard working fools, and the bikes we love!
EGK
Dear Employees,
Due to the current financial situation caused by the slowdown of economy, Management has decided to implement a scheme to put workers of 40 years of age and above on early retirement. This scheme will be known as RAPE (Retire Aged People Early).
Persons selected to be RAPED can apply to management to be eligible for the SHAFT scheme (Special Help After Forced Termination). Persons who have been RAPED and SHAFTED will be reviewed under the SCREW programme (Scheme Covering Retired Early Workers). A person may be RAPED once, SHAFTED twice and SCREWED as many times as Management deems appropriate.
Persons who have been RAPED can only get AIDS (Additional Income for Dependants & Spouse) or HERPES (Half Earnings for Retired Personnel Early Severance).
Obviously persons who have AIDS or HERPES will not be SHAFTED or SCREWED any further by Management.
Persons who are not RAPED and are staying on will receive as much **** (Special High Intensity Training) as possible. Management has always prided itself on the amount of **** it gives employees. Should you feel that you do not receive enough ****, please bring to the attention of your Supervisor. They have been trained to give you all the **** you can handle.
Sincerely,
The Management
#79
12-17-2008 | 06:20 PM
Outstanding HDF Member
Scroll your uneducated cursor back to the original post and show me where the poster stated he/she lost their job.
I dare ya, Nostradumbass.
My wife left her part time job last week. She was making $32 an hour. Her boss comes in and tells her he's cutting her pay to $15 an hour. I told her I'll pay her $15 an hour to stay home. You see me on this forum snibblin' about it? HELL NO! That was a choice we decided to make.
Like I said Julio.....
Dig in and enjoy the ride...it'll get better.
Last edited by BadPiggy; 12-17-2008 at 06:30 PM.
#80
12-17-2008 | 06:55 PM
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From: Cheesehead threw and threw
I got half way threw the 2nd page and had to quit reading, I am not a particularly smart man but smart enough to see that that the better life my parents hoped for me, I'm 57, and that I hoped for my kids and grandkids is slipping away. EGlideKid and those like him who have worked and expected the fruits of that labor in the form of retirement or whatever in the latter years should be pissed and we should be pissed for them and not telling them to suck it up and quit whinning. You work cause you can't count on social security, the grand Ponzie Scheme, to be thier if you need it. Is this the beginning of class envy, were we chide people who have a good job w/ benefits and maybe retirement and rejoice in thier loss of it ? Our goverment, who am I kidding, it is not Our goverment any more than it is our house, our property, our money, unless we keep THIER money comming. We are loosing it all little by little and we are getting way to use to it. I have had a job, going on six years now, that I have a retirement, for now anyway, the people hired a few years after no longer get one, I will have to work to 70 or so but thats alright, it will make the riding time all that much more sweet. I am just so damn mad and other than vote, which I do, I can't do a damn thing about it. We are all being fk'k and we all know by who, lets keep that in mind and not turn on each other, in these times we need to stick together and be thier for each other. Now I will get off this damn box before somebody comes and drags me off of it,