Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

COHR 178.34

-10.2%

Dec 12 9:30 AM EST

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To: Kirk © who wrote (6804)	2/28/2019 1:11:11 AM
From: dan6	Read Replies (1) of 26769

My father was a school teacher in NYC from the 40s through the 70s. Back then Albert Shanker and the teachers union was able to negotiate relatively generous pensions because the City didn't want to increase salaries (which were pitifully low) because that would cost money now. So they punted the ball forward so that pension obligations would be dealt with down the road. It is easy to pick on government pensions today, but it was a different world back then when pensions were considered a normal perk of employment in the corporate world, as well as government. Govt and military pensions in particular were meant to compensate for modest pay. It was not so much buying votes but deferring costs... I have no idea how the system works today...

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