This retiree hired into a company renowned for its paternalistic treatment of its employees. One could hire in and expect to make it a career. For those who stayed, there were pension and medical benefits that provided a secure future.
Things have changed. The pension system was modified to the point of almost being unrecognizable. The retiree medical insurance system was eliminated for new employees and those already retired saw what they had been promised modified to the point where it bears no resemblance to what they expected to retire with.
My premiums have quintupled, the deductible has been raised and the coverage had been reduced. On top of this, I've been switched to Medicare and only my wife is under Dow insurance as primary provider.
The stock is now at 20% of its high.
I get a mailing from the those in charge expecting fealty.