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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: mishedlo who wrote (223268)2/21/2003 4:37:39 PM
From: Les H  Read Replies (1) of 436258
 
Actually, the funny part was that they timed it to coincide with negative pension income in response to shareholder demands.

Like GE, Verizon adopted the measure in response to pressure from shareholders. A proposal by a group representing retired employees was defeated in a proxy vote last year.

The shareholders have to be pissed, at least those that are not executives at Verizon and GE.
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