Why would he have that much stock in a company he is drawing a pension from? Basic diversification tells you to limit your exposure to the company you worked for or work at. GM and ENRON our examples of retiree getting burned on the stock and pensions.
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Never own significant stock in the company You work for: Diversify Diversify Diversify. Lesson Learned: ENRON
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I hope it doesn’t happen; will GE file bankruptcy on its pension plan to get out from underneath it. Saving the Company billions every year, keeping the profits up to give the CEO’s their bonuses & parachutes. This was the trend during the Bush2 years. History repeating itself?
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