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Strategies & Market Trends : MDA - Market Direction Analysis

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Dec 26 4:00 PM EST

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To: Crimson Ghost who wrote (48432)	4/27/2000 4:40:00 PM
From: Haim R. Branisteanu	Read Replies (2) of 99985

George, in a nutshell what IBM said was that it does not matter how rich IBM pension fund is, the compensation will be a fix sum and the surpluses will go back to the company and not to the owners and contributors of the pension fund - e.g. IBM's employees. Just keep in mind that wen many IBM'ers were hired they were told a complete different story regarding their pension plan and their rights. (So IMHO there is a employement contract violation, but I am not an attorney.) What that does is improve IBM's bottom line but screws the employees. They protested several months ago and TOP Scam Bag brought the issue to "shareholders vote" which of course are WS ROBBER BARONS and other scam bags who care about their own bonuses and compensation and not those entitled to receive a pension. Now many other companies will do the same robbery and rob their own employees pension funds to improve the bottom line and if the employees object they will bring the issue to a "shareholders vote" . It is similar to a situation were you give your money to a money manager and tell him it is for your retirement and you would like to draw XYZ dollars a month. In case that by pure luck or wise investment he performs better than you have expected he puts the extra money in his pocket not yours. Think if you will agree with such an arrangement. IMHO it is awful and bordering on criminality, but IBM's attorney's set such wording that it is not until Congress will legislate differently which I do not think will get this administration support. Such legislation will crash the market. Haim

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