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Dun & Bradstreet Corp. Message Board

  • lehighmary lehighmary Jan 23, 2009 12:43 AM Flag

    Retirement Riches - Top Execs only!

    Wow - In the midst of all the retirement plan cuts, it appears the top D&B execs are feathering their nests quite handsomely. Unbelievable, and so wrong. These folks make the U.S. Congress look positively squeaky clean.

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    • They dont have to set an example. When you have long term employees they get mad when they see whats going on. The fired all of those people and the few left are to scared. All the new employees have no idea and are just glad to have a job. Its a revolving door now and the ones flying into the job, again, have no idea and dont care. It just us outsiders who can see the hypocrisy. They should take the pension funds and throw a party in Bali.

    • This is from today's annual report filing. It translates to this: "At the end of 2007, we screwed almost all of our employees by freezing their retirement plans and ceasing company contributions. We did NOT, however, freeze the absurdly rich Supplemental Executive Benefit Plan (SEBP), wherein a handful of senior executives receive extraordinary retirement benefits well in excess of those paid to the "little people." Fu**ing hypocrites, taking a page out of Marie Antoinette's handbook.

      Here's the filing, with the relevant word in caps highlighted:

      "Effective June 30, 2007, we amended the U.S. Qualified Plan and ONE of the U.S. Non-Qualified Plans, known as the U.S. Pension Benefit Equalization Plan (the "PBEP"). Any pension benefit that had been accrued through such date under the two plans was "frozen" at its then current value and no additional benefits, other than interest on such amounts, will accrue under the U.S. Qualified Plan and the PBEP. Our employees in certain of our international operations are also provided retirement benefits through defined benefit plans, representing the remaining balance of our pension obligations."

    • Why not?

      They raise the prices every year to get the top line growth and shoot employees every year to get the bottom line growth.

      You have to pay the piper for that kind of brilliance.

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