Today is really a red-letter day for corporate malfeasance and incompetence here at Wonkette, isn't it? It is! And such a day wouldn't be complete without a discussion of the Hostess CEO, whose corporate "maneuvers" might "deprive" workers of some of their pension money by using it for "operations." (This is corporate speak for saying that the CEOs padded executive pay by stealing money from worker pensions.)
you know, i'm beginning to think the free market is mostly a chimera intended to conceal the fact that rich people are often pricks intent on proving there's a sucker born every moment.
For a few years during one of the recent stock market booms, many companies were reporting "profits" that consisted entirely of underfunding employee pension plans.
Because those plans have assets "marked to market" and use "market assumptions" in good years the actuaries can project rapid growth.
Of course, when reality sets in...well, what do you expect when reality sets in?
elizabeth warren in the senate.
you know, i'm beginning to think the free market is mostly a chimera intended to conceal the fact that rich people are often pricks intent on proving there's a sucker born every moment.
Did the board burn him at the stake, or by rotisserie ?
For a few years during one of the recent stock market booms, many companies were reporting "profits" that consisted entirely of underfunding employee pension plans.
Because those plans have assets "marked to market" and use "market assumptions" in good years the actuaries can project rapid growth.
Of course, when reality sets in...well, what do you expect when reality sets in?