On 27 Feb 2007 21:23:45 -0800, "Jay Honeck"
wrote:

Why not? They work. The plans are growing.

Your plan is not the norm. I'm glad it's "working" for you, but the
fact is that if your company is paying you to "retire" at age 52 (or
whatever you said), there is going to be a competitor out there that
ISN'T.

That savings will be the death of your company, because it's just

That's the point. The company isn't paying me anything. They paid that
as part of my wages. That percent went to an investment company
similar to the CAP from the day I received my first pay check.
Considering what went into the retirement account I'd guess the
interest is more than what I'm getting and I do get a fairly nice
check. OTOH it sure aint what I received while working.

I could have gone to the local head hunters and had it all set up to
come back in to my old office the next day with a considerable raise.
They can contract out like that, give the other company a commission,
and me a raise as they don't have to pay benefits. A good portion of
those benefits went to that investment company for my retirement.
OR rephrased, they pay the employment agency a premium and my wages. I
get a considerable raise and they still save money.
Also in today's dollars the new hires don't get as much in the way of
benefits as the earlier employees, but it's still a good place to work
and they pay a good wage to professionals.

plain stupid to pay young men to sit around and do nothing.
Companies that are smart enough NOT to pay young men to NOT work will
win, in an open market.

They can't even claim what I receive for retirement as an expense as
that was done when I received my original paychecks.
So it doesn't cost the company any more for retirement if I retire at
50, 55, 60 or 65.


Michigan has been unable to wean itself from the auto industry and
with the inertia of that industry and its employees, it's probably
going to get far worse before it gets better.

I was glad I worked most of my life in the chemical industry. Prior to
that I had a taste of the auto industry for a couple of years. (didn't
like it)


That's for sure. I lived through (on a much smaller scale) the
economic devastation that occurs when an auto maker goes belly up,
back when American Motors Corporation died. The economy of Kenosha,
Wisconsin was ruined for a decade or more.

They've now recovered fully, with nearly full employment -- but there
are still a lot of bitter old men there, wondering what happened to
their cushy lives...

It never even dawns on them that the answer is in the mirror.

Yup. The cost of that new car is mostly wages.
I don't know if it's that way now or not, but at one time line workers
were reportedly making as much as engineers. (even when laid off)

Roger Halstead (K8RI & ARRL life member)
(N833R, S# CD-2 Worlds oldest Debonair)
www.rogerhalstead.com