New route to corporate profits: Dump the company pension on the taxpayers.
The Pension Benefit Guaranty Corporation has become an increasingly popular option for private-capital funds and other investors who are seeking to spin investments in near-bankrupt industrial companies into gold. The key is to shift the responsibility for pensions, which weigh as heavily as bank loans on a company's balance sheet, to the pension corporation. This usually means that the workers don't receive the full pension they were promised as an employee and can be devastating to retirees. Unfortunately, the government has thus far done little to discourage the practice.
Here is the story from Sunday's New York Times.Sexual Harassment, Pregnancy Discrimination, Age Discrimination, San Antonio, Employment Lawyer
