Uh, no. I think I was very clear that I blame management for incompetence. They didn't manage their way out of it and cut REALLY BAD DEALS with the unions. A

Uh, no. I think I was very clear that I blame management for incompetence. They didn't manage their way out of it and cut REALLY BAD DEALS with the unions. And believe me, I think the unions share some of the blame here. They negotiated terms for their members that included overly generous pension terms because one of the things that unions like to do now is control member pensions. And when they control member pensions, they have a nice pot of money to invest for their members behalf (har har har) until they do such a bad job of it that they need someone to blame (that greedy company). That particular story has played out over and over again because union management swings investment funds to "favored" firms which court pension funds aggressively (read: kickbacks). Think I'm making this stuff up? Do your own research and tell me if you can find any examples of union-run pension funds exceeding the market performance of something like an index fund. Do pension funds even have to meet the disclosure and transparency requirements of your garden-variety mutual fund? http://www.chicagotribune.com/business/success/terrysavage/tca-pension-plans-no-longer-a-sure-thing-20161223-story.html http://www.chicagotribune.com/business/success/terrysavage/t...