Now Someone Else Has To Tell Retirees No
Wall Street Journal; January 29, 2007; page B1, column 2.

Yet another article on the lengths companies go to avoid making good on the promises they made to their employees. In this latest scheme, they form a trust, dump in some cash, and walk away; leaving the employees to figure the rest out for themselves. They are not even required to fully fund the trust based on their current obligations. CEOs buy multimillion dollar homes with their bonuses while the rank and file struggles to make do with the frank'n'beans existence they're stuck with.