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.
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?
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.