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SPX Corporation Message Board

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    • GSX Investment Committee and those that work on
      the plans were very responsible and did act in the
      best interest of its employees. If you feel that the
      new SPX Committee has violated its Fiduciary
      responsibilities you can contact the DOL at Washington District
      Office, 1730 K Street, N.W. Suite 556 Washington DC 20006
      Phone 202-254-7013. The DOL under ERISA takes these
      claims very seriously and as you are aware management is
      personally liable for any action that would cause detriment
      to the employees covered in the plan. Good Luck.

    • and we all know his name. No whining about him. No defending him, either.

      R.I.P GSX.

      To my fellow SPXers: Watch out for yourself, and leave the rest to God.

    • given the proceeds from the stock swap have been
      sitting in a money market account since October. What's
      really sad is that management didn't have the guts to
      tell us when we could have moved the money in our 401k
      accounts. So much for the Investment Committee "exercising
      its fiduciary responsibility."

    • given the proceeds from the stock swap have been
      sitting in a money market account since October. What's
      really sad is management didn't have the guts to tell us
      about this when we had a chance to move our 401k funds.
      So much for the Investment Committee "exercising
      their fiduciary responsibilities."

    • It's like magic. The Dow, S&P500, and NASDAQ
      close down today but somehow when it's time for SPX to
      convert GSX stock to SPX stock the SPX price goes up to
      near record levels. This means GSX stockholders
      (former) now have a new baseline of $67 to maintain
      breakeven status. How do they do that? I guess that's SPX's
      way of creating incentive to EVA buy-in?

    • No surprise that SPX would make an announcement
      like this and temporarily drive up the price of the
      stock; just before the old GSX company stock fund is
      converted to SPX.

      Nothing like getting the employees
      to buy SPX stock when it's high; then putting a
      freeze on employee transfer transactions until the end
      of February when it will probably be down in the
      mud.

      What ever happened to buy low and sell high?

      • 1 Reply to firenet_1998
      • If SPX is such a lousy place to work why don't
        you folks march on down to your friendly recruiter or
        unemployment office or whatever and change jobs! Hey, the
        market is great out there for new employment. Go to
        it!

        Your continuous whining "there they go again screwing
        us poor folks" is so much baloney. Go out and look
        at what's going on around you! You don't even know
        what you've got and yet you complain about it!


        SPX is a rust belt business that had a rust belt
        destiny before the current leadership.

        To the
        SPXHATERS, SPXWAKEUP posters, your ignorant posts don't help
        the situation. Change jobs and leave us alone to do
        our work.

 
SPXC
8.72-0.44(-4.80%)Feb 10 4:02 PMEST