Thursday, January 05, 2006

IBM freezes pensions, HAL laughs it up

Well, now even technological powerhouse has bowed to fiscal reality: “International Business Machines Corp., the world's biggest computer company, will cut its U.S. pension plans to help save as much as $3 billion in the next four years.” IBM pension deficit at $7.4 billion was fourth behind Ford, Exxon, and General Motors.

Companies, answering to stockholders, are facing up to their overextended promises. The U.S. government, answering to Baby Boomers, cannot. Down, down we go.

3 comments:

JoeFriday said...

how do I go about selling government stock short?

Anonymous said...

The easiest way to to purchase foreign currency contracts.
--Toren

Anonymous said...

Check this out for FREE...

This opportunity says:

"Your Ad" Will Be Instantly Displayed on Thousands of Websites and Read By Over 10 Million People Per Week For FREE, and It Only Takes 60 Seconds To Get Started!

To find out more visit: idea for home-based businesses site. It successfully exposes FREE information covering Traffic and idea for home-based businesses related stuff.