Sunday, October 18, 2009

Great line of the day 

On Rabble, Fred Wilson talks about the pension fallout of the Nortel collapse and the upcoming pension negotiations for workers at AbitbiBowater:
. . .There are 30,000 workers and pensioners in this company’s pension plans which at the end of 2008 were $1.3 billion in deficit. Without a government solution, these key labour negotiations and the fate of these pensioners will be like a fast moving truck hitting a large stone wall.
Emphasis mine.
As I get older, the pension issue is rapidly getting nearer and dearer to my heart.
We baby boomers always did believe that about the time we all started to retire, the pension systems would run out of money. Oh, well, there's always Walmart, I guess:

Walmart Elvis image by Shane McDermott via Bill Doskoch

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