BA> Replying to a message of Bob Klahn to Bob Ackley:

 BK>>>>  We were talking about the pay of workers, not former workers.
 BK>>>>  Pensions are out of a pension fund, not current cash flow.
 BK>>>>  Medical benefits have been moved to a similar fund.

 BA>>> And both of those funds get their money from current (and
 BA>>> future) cash flow.

 BK>>  No, they do not. The pension plan has it's own investments. Why
 BK>>  do you think pension funds own so much in the stock market.

 BA> Silly me.  I thought the company continued to contribute to
 BA> those funds with *current* and *future* cash flow.

 Not for retired workers, only for current workers. So the only
 differential there is that Toyota has no retired workers. And
 maybe they have lousy pensions, that I would not know.

 Again, above, we were talking about the pay of current workers,
 not former workers. That difference was the subject. The
 difference between $55/hr and $70/hr.



BOB KLAHN bob.klahn{at}sev.org   http://home.toltbbs.com/bobklahn

... "I've enjoyed as much of this as I can stand."
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