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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: MulhollandDrive who wrote (8118)1/15/2003 1:58:08 PM
From: GraceZRead Replies (2) of 306849
 
I heard one of the interviews with a striker on the picket line and her reasoning was that Jack Welch could pay the difference with one or two years of his ridiculous pension, that and she was afraid if they gave on this point (which seems reasonable in light of the rising healthcare costs) that management would really put the screws to them later this summer.

The worst part about a speculative excess like we've seen is that it does make people resentful of the very visible disconnect between the performance of the company and high executive pay. But he negotiated that pension when everyone was fat and happy (even if it proved to be an illusion). I doubt that kind of package could be negotiated today, but when it was negotiated the employees didn't protest much because they didn't care as long as their options and 401s were up. If there is one thing I've learned in biz it is that you negotiate the price before the job is done, although he was forced to give some back.
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