shares are going south today
14 replies (most recent on top)
Pardon me, but if anyone here needs a reality check, it is you.
No city, county, state, or federal agency backstops 100 percent of pensions. Your assertion to the contrary is completely false and wishful thinking.
Don’t take my word for it. You can find thousands of cases online whereas pensioners lost it all in cities, teachers, and other private organizations including those the traded publicly on the New York Stock Exchange. Pensions are not guaranteed by any agency anywhere in the United States. Stop lying.
What happens to pensions when a company files bankruptcy?
In a Chapter 7 bankruptcy, the company liquidates its assets to pay its creditors and ceases to exist. Therefore, it is likely your pension and health plans will be terminated.
And now the rest of the story …
“If the employer in bankruptcy terminates a defined benefit plan, the Pension Benefit Guaranty Corporation may insure some benefits. The PBGC usually pays benefits after termination up to a certain maximum guaranteed amount.”
This thread needs a reality check. According to an employee benefits consultant friend of mine, there is no means for a 3M retiree to “lose their pension” no matter who is asking them to give it up. Upon retiring, one decides to to take either a lump sum or an annuity. Lump sum is a one time pay out of the entire value of your pension and is yours to manage privately. The annuity is a month payment until you die. This payment is protected by the Pension Benefit Guaranty Corporation which is a US government entity. So basically, even if a company like 3M files for bankruptcy, the pension is protected by the PBGC (US gov’t).
There is no connection between a retirees pension and the court proceedings around Combat Arms hearing protection. Even if the rumors are true regarding letters going out, there is no means for “surrendering” ones pension unless your gullible enough to give up your lump sum distribution to some corrupt law firm. If so I have some crypto currency from the Bahamas I’d like to sell you.
www.pbgc.gov
At 3M, we use PFAS and poorly designed earplugs to ruin lives and exacerbate the world's toughest challenges. We remain focused on executing our plans to destroy neighborhoods and continue to deliver zero value for our customers, while giving premium returns to our millionaire shareholders.
Below is an annual November snapshot of 3M Company closing stock prices since Mike Roman was installed as Chairman of the Board and Chief Executive Officer:
November 26, 2018: 207.92
November 25, 2019: 169.77
November 27, 2020: 176.89
November 26, 2021: 175.52
November 25, 2022: 129.04
Overall 37.9377% decrease
Shares of 3M fell 0.8% on Wednesday, the worst performer in the Dow industrials, with the shares down 3.8% at their intraday low.
3M pensioners, settle now with the soldiers attorneys. You can save some of what you would have gotten if you are reasonable. Bankruptcy will not protect you. You're ill gotten gains are weighing you down while 200000 loyal soldiers lost their hearing because of your defective earplugs. Final warning before you lose everything.
Shares finished flat today. Get back to your ambulance chasing and stay off the 3M layoff forum you sl--e.
Investor event today
Fake news from bottom feeder lawyers who graduated from bottom tier law schools.
The pensioners are indeed getting those warning letters. Settle now or get clawed back. Ask for 50 50 split. Soldiers get 50, you can keep the other half. Some attorneys are sympathetic to your case if you call now. Also sell all shares asap.
Stock is getting crushed again due to leaks re. Hearing liability. Bankruptcy is very much in paly for entire 3M. I have heard retirees are again getting letters from plaintiffs lawyers demanding their I'll gotten pensions
Stock is getting crushed again due to leaks re. Hearing liability. Bankruptcy is very much in paly for entire 3M. I have heard Pensioners are again getting letters from plaintiffs lawyers demanding they turn over I'll gotten gains immediately.