Page 871 - Pensions News Today

A disproportionate amount-- >> gary b, you live i maryland, should you and maryland be paying for what detroit or michigan is deciding to do with unions and pensions and how they got themselves in this mess in the first place? >> exactly, brenda. i kind of agree with jonas. im not sure id be so quick bail out cities with national catastrophes. they decided to live there and build there. but jonas it right, a lot of cities like detroit are heavily unionized. they invested heavily in these gold-pl...

And music. it seemed like the center of the universe. the fear is that the state review will show the city is broke. the way the city can avoid filing bankruptcy is to come to terms with their unions and creditors with their pensions and healthcare and other obligations. detroit is over $2 billion in debt and experts say its unlikely they are going to come to terms. it also does not look like the president or the big banks will come to the rescue. chapter 9 is very expensive and its a last ditch...

Productive environment to solve problems? not necessarily. theyre still overcoming the divisiveness, the hard feelings from all of that." at the time reporters wanted to know whether rick snyder would support what is known as a right to work law. the idea of right to work is simple. under a right to work law, employees of a union shop dont have to pay union dues. the employees get the benefit of the union, the higher wages and better health care, all of that, but they do not have to pay for it. ...

And pensions take a hit, too. thats why unions call right to work the right to work for less. with governor snyder saying he wanted no part of a fight over right to work just a few months ago, the move to pass a bill in michigan was, well, kind of surprising. it appears to have started this year with a referendum campaign by union activists to protect union rights. against governor snyders wishes, they collected signatures and got a referendum on the ballot that would have made it impossible for...

Tonight is the weekly standards john mccormick and the washington examiners susan, first to you. any problem with the request? >> she can ask for it and many cities have received bailouts. in fact, there will be a number of big bailouts because the state run pensions are running out of money. theyre all going to turn to the federal government to bail them out. i think that obama administration has set the tone that they will be there to bail people out. they bailed out general motors. they baile...

Financial affairs are in the hands of a bankruptcy court judge. that judge says you get this and you dont get that. >> steve: thats what they dont like because suddenly theyre going to have to be a little more responsible than theyve been in the past. >> this all goes back to the municipal unions. they are due to be paid eformosa pensions, very high wages, big pensions. they simply cannot meet the promises that theyve made to those retirees. that has to be sorted out. a bailout doesnt sort it ou...

Or not its illegal so our panel tonight is the weekly standards john mccormick and the washington examiners susan, first to you. any problem with the request? >> she can ask for it and many cities have received bailouts. in fact, there will be a number of big bailouts because the state run pensions are running out of money. theyre all going to turn to the federal government to bail them out. i think that obama administration has set the tone that they will be there to bail people out. they baile...

Part of it is due to its pension obligations to its public employee unions. im taking this from a magazine article that was in city journal a year or so ago. in the year 2005, there were 700 retired educators in california who had pensions of more than $100,000 a year, okay. thats 700,000 of them in 2005. in 2011, there were 5,400 retired educators who had pensions of over $100,000 a year. >> greta: california is in deep trouble. >> deep trouble. >> i dont think in this country people are ever g...

Obligations to its public employee unions. im taking this from a magazine article that was in city journal a year or so ago. in the year 2005, there were 700 retired educators in california who had pensions of more than $100,000 a year, okay. thats 700,000 of them in 2005. in 2011, there were 5,400 retired educators who had pensions of over $100,000 a year. >> greta: california is in deep trouble. >> deep trouble. >> i dont think in this country people are ever going to work towards solving thes...

You see it now to his approach on the fiscal cliff about wealth distribution and esop with occupy wall street, which was supported by the unions and by the global socialist movement. it is not just happening here, it is a global movement to the left. so again, this is a part of this megyn: they seem to be trying to say that the rich, and maybe that is banks and what have you -- they say that they got us into this mess and they are saying that jurors and their pensions and blame us. to make 60 or...