for finding a way to shake off the albatross of medical benefits for 100,000 retirees. Unfortunately the American taxpayer will now have to pick up the burden for these worthless leeches who suck more value out of the economy each year than they added during their entire working career.
It seems to me that senior executives at IBM are the ones who suck out more value each year in compensation than they add during their entire career. Since Rometty took over from Palmisano the stock has gone nowhere while the S&P has rallied 25%.
Retiring for me means selling my business. And when I do finally cash out, I won't be logging into YouTube to watch a video from some company to find out what healthcare plan I'm being shoveled into. I'll stop viewing IBM retirees like piles of #$%$ when IBM stops treating them that way. But right now that's the way it is and the retirees completely accept that as their fate. What a pathetic bunch of blue collar working class sheep.
First of all it was 110,000 retirees. Secondly, the taxpayers won't be picking up any costs for them. IBM continues to fund their medical expenses at the same amount that they did when they were covered under the plan administered by IBM. All IBM did was move the retirees into a much larger pool with the projected effect of lowering costs for the retirees because of the larger pool. The thing you should be concerned with is Obamacare which will really cost the American taxpayer. Hope that helps explain things a little for you.
Sentiment: Strong Buy
nksjfh is a confirmed jerk but he's right about the self-insured part. That's where the savings come from and it's why they are doing it. I have no idea whether the change is better or worse for the retirees but it is definitely better for IBM. That said, IBM is one of the few companies that actually pays any attention to someone once they walk out the door and that says something about the company and its history.
IBM is self insured and their healthcare provider only processes the paperwork - IBM pays the actual bills. By pushing retirees out of IBM insurance and into the public domain they defray a huge amount of cost. So picking up the employee/retiree portion is virtually meaningless compared to the cost of paying the actual healthcare bills like they do now. But the actual healthcare bill still has to be paid by someone. That someone is the U.S. taxpayer and that is why Obamacare has 20 new taxes associated with it. IBM is actually pushing a huge expense off onto U.S. taxpayers. I personally couldn't care less what happens to IBM retirees and I have no interest in helping defray IBM's healthcare costs. That's the issue.
I hope you know.. If it weren't for those worthless leeches.. IBM wouldn't be sitting there with a mainframe, that no one else will ever be able to develop!! Eventually, everybody will realize what a position... Those mainframes, puts IBM in!! I took the buyout in 1992, when I could get a yrs salary! 2 wks X 26 yrs.. Don't know if I had medical benefits or not?? Never thought about them.. Was very lucky, when I got Colon cancer!! As a Vietnam vet.. VA covered about all cost of removing large portion of my colon, and radiation treatments and then 6 mths of Chemo!!! I suggest you start checking your pay stub.. And ask yourself!! What do they do with all those taxes they collect!!! I'll never forget the morning after ole Clinton, had to fess up about Lowrenski... He, Hillary, Chealsy walking accross white house lawn, taking 2 wk vacation at Mathers Vinyard! Had a billion dollar plus helecopter, Which stayed fully manned at all time, to fly him to Airforce 1??? You are concerned about wrong thing!!! You should be concerned with idiots, with all the power!! And that would be Federal Gvnt!!! If what they do. Benefits IBM.. So be it.. For about 25 yrs, they tried to destroy IBM!! For having manopoly on Computers.. Don't worry.. While IBM was fighting them in court!! Those worthless leeches were still sitting there in those labs, developing Watson!!! While I think, that technology is so far ahead of anybody elses!! Its my understanding.. IBM has technology maybe 100 times better than that coming!! Thats when they will be able to figure out how old the Universe really is, and how vast it is!!! BTW! The capsule that put man on the moon! Was made of IBM computers!!! All I got to say.. Thanks to all those worthles leeches, who are now sucking the economy dry!!! If they don't deserve, anything they are getting!! Who does??? Don't you ever believe.. Bill Gates would be one of the wealthest SOBs on planet.. If he hadn't of worked for IBM, and learnt, from those Worthless Ls!!
your post is beyond the pale. obviously you don't care about anything and your post shows that.
I wish suffering and tragedy on you as long as you live. I hope you live a long time in mystery.
You want to leave this young kid alone.
He probably is turning 27 in 2014 he has to buy his own insurance.
The old man finally told the POS its time to find his own place he wants his basement space back.
His boyfriend has been cheating on him with his Mother and he promised him his Bi-days were over.
Its tuff to be a young these days.
And it aint going to get any easier.
Been retired for 7 years myself and still not old enough to collect SS yet.
Tuff to be me...
Hey nksjjh when I am eligible for SS I get the MAX!!
Hope you can retire beFORE you die!