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Illinibird

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So I guess what this article is saying is the Detroit automakers didn't go bankrupt ~12 years ago, the crushing retiree health care and pension benefits cost were just a "manufactured crisis".

Let the Post Office stop contributing to retirement health care and pensions, and just tell all current employees they are screwed, and shouldn't plan on seeing a cent of retirement benefits. Problem solved, the Post Office is now wildly profitable. EZ-PZ.
We're getting off topic here but don't get me started on the attempt by Springfield to screw us on our pensions from the State of Illinois (University of Illinois SURS Retirement Program).
 
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jhalkias

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We're getting off topic here but don't get me started on the attempt by Springfield to screw us on our pensions from the State of Illinois (University of Illinois SURS Retirement Program).
OK, we won't. 🙃
 

ChasingCoral

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If your car has been unloaded in KC, I think there’s a 90% chance mine is with it. It better be! Although the Palsapp site didn’t indicate so.
No. I'm still not seeing anything in palsapp except a Pending item in New Castle, DE. It makes me think ours are awaiting reloading onto an eastbound train. However, CSX system map doesn't show them going west of St. Louis so not sure what they are doing with them.
 

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No. I'm still not seeing anything in palsapp except a Pending item in New Castle, DE. It makes me think ours are awaiting reloading onto an eastbound train. However, CSX system map doesn't show them going west of St. Louis so not sure what they are doing with them.
We are in the same boat and I am thinking the same thing as we are both heading east. Maybe they are loaded by someone else in KC or they continue on from another carrier using the same railcars. I love a good mystery :)

I am sure someone knows but they aren't on the forum to answer.
 
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ChasingCoral

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Kamuelaflyer

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So I guess what this article is saying is the Detroit automakers didn't go bankrupt ~12 years ago, the crushing retiree health care and pension benefits cost were just a "manufactured crisis".

Let the Post Office stop contributing to retirement health care and pensions, and just tell all current employees they are screwed, and shouldn't plan on seeing a cent of retirement benefits. Problem solved, the Post Office is now wildly profitable. EZ-PZ.
if the USPS lived by the same rules as every other company in the country regarding health care benefits and pension plan payments, those established by ERISA, they’d be extremely profitable. As @RonTCat said, nobody other than the Post office pay pension premiums for employees who aren’t even born yet.

The legislation requiring this absurd payment scheme was primarily written by UPS. It’s not intended to help with the USPS or the American public.
 

jhalkias

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if the USPS lived by the same rules as every other company in the country regarding health care benefits and pension plan payments, those established by ERISA, they’d be extremely profitable. As @RonTCat said, nobody other than the Post office pay pension premiums for employees who aren’t even born yet.

The legislation requiring this absurd payment scheme was primarily written by UPS. It’s not intended to help with the USPS or the American public.
THIS. 💯

There are a lot of businesses struggling with pension liabilities, but what Congress did with the Post Office liability is ridiculous. Pension reform is needed for pension funds across the country, but the law that makes the postal service pension liability factor into their bottom line is absurd.
 

mburtsvt

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The good news here is that no news is good news. It also points out a Paradigm shift in the way all manufactures will deliver cars in the future. The sales person, (dealer) perspective of “Sell what you got on the lot” will quickly fade. Dealers will go kicking and screaming to hold on to out dated sales methods. Ford, (as a company), realizes this and will work hard to heard dealers to the future of car sales, whether they like it or not. The days of “on lot” auto sales are quickly fading.
 

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THIS. 💯

There are a lot of businesses struggling with pension liabilities, but what Congress did with the Post Office liability is ridiculous. Pension reform is needed for pension funds across the country, but the law that makes the postal service pension liability factor into their bottom line is absurd.
Factoring in the liability is fine, factoring in 75 years is just politics. Make it a reasonable time frame, one that covers all active employees and current retirees.
 

jhalkias

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Factoring in the liability is fine, factoring in 75 years is just politics. Make it a reasonable time frame, one that covers all active employees and current retirees.
Which is what normally happens under ERISA.
 

Kamuelaflyer

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Factoring in the liability is fine, factoring in 75 years is just politics. Make it a reasonable time frame, one that covers all active employees and current retirees.
ALEC was the author of the legislation regarding the Post Office. That piece came from UPS who had often stated "The Post Office is our primary competitor." It was not intended to solve the then pension shortfall. It was intended to bury the Postal Service.

Throughout all of the 1990's and very early part of this century, I was heavily involved in pensions and defined contribution plans at my employer through our union heirarchy and CBA's. As a licensed attorney I became very knowledgeable in ERISA. This is a mess they created. It was intentional.

ERISA needs reform (badly in some areas), but this mess was premeditated. We all need the Postal Service.

Anyway far enough afield, the 3 of us are in substantial agreement anyway.
 



 









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