Kerry: Hold Corporations Accountable

Senate Finance Committee Passes Kerry Plan to Protect Pensions, Hold CEOs Accountable
July 26th, 2005

Today, in a win to protect worker’s pension plans, the Senate Finance Committee has agreed to an amendment sponsored by John Kerry “to hold CEOs and corporate executives accountable for ensuring pension plans are solvent.”

The Kerry amendment strengthens the link between the funding of deferred executive compensation - benefits for executives that are often valued at millions of dollars a year after their retirements - to the funding of workers’ pension plans.

“It’s time Washington understood that a worker’s pension is just as important as a CEO’s golden parachute. The Pension Benefit Guaranty Corporation is there to protect workers when companies go bust, not so companies can break commitments to workers for extra cash-flow in the short term. We’ve seen what can happen when corporations cook the books, and we need to hold CEOs accountable for actually paying the pensions they’ve promised their employees,” said John Kerry.

MORE - http://blog.thedemocraticdaily.com/?p=68

And exactly what a Democrat should be trying to get through. Wonderful stuff.

why do they go out of their way to support fascism even when it threatens their own economic interests?

Like a host who has no idea that a parasite is living inside of them until it's about to take over their entire bloodstream.

for Republicans to vote against it. Like the Kids First Act.

It's about time the CEOs and execs be held responsible. They always seem to manage to snake away THEIR hefty profits before allowing the workers what is owed to them.

to have any chance of passage in the House.

:evilfrown:

Maybe they wont be any more Erons, MCI, United Airlines, etc...Hear that Glen Tilton.:evilgrin:

Thanks for speaking up for the Working American!