I figure I best say something before people start asking "where's
I learned in '69 when TI had it's first layoff (I was a very young
manager at the time) that you had to look out for yourself. Bought
a laundromat and started plodding toward ER. In '89 they offered
an ER package and I took it at age 55 in a flash.
There was no question in my mind about taking the lump sum vs.
pension ..... no way was I going to depend on the company
lasting for another 30-40 years.
I truly feel sorry for those loosing pension benefits but it is
ridiculous to blame it on high salaries of the executives although
they are grossly overpaid. I can remember the time when auto
workers were making much more than the average hourly
worker and airline pilots were getting rich by most standards.
Poor business decisions including pandering to overdemanding
labor unions was/is the root of many companies problems.
That and the fact that we almost had a free ride after WWII until
the rest of the world re-tooled with modern equipment and
began to hand us our head on a plate.
That's my 2 cents .....