Broken promises: Vanished pensions at Nortel

no future for nortel

Another case of corporate greed is upon us as Nortel executives get their
hands caught in the cookie jar; the employee’s pension fund
mysteriously disappears after top dogs reward themselves ludicrous
bonuses for driving the company into bankruptcy. These execs are
so greedy and incompetent they should be moving on to jobs at Government Motors.
Why should we punish employees who gave years of good service
to their company and followed all the rules? At this rate, we have to wonder,
will anybody have a pension left when they retire? If Nortel execs escape consequences,
more execs at other corporations could raid their pension funds and then declare
bankruptcy. At the least, this shows us the Canadian way of the last 30 years:
strings of empty promises we have no intention of keeping is coming back to haunt us,
as management now realize they can be “deadbeat dads” as well as their employees

~ by judohobo on January 5, 2010.

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