Pension Dumping is already garnering praise. Here is what some advance readers had to say:
"Will retirement security be an oxymoron for most Americans? Fran Hawthorne's Pension Dumping offers a clear-eyed, provocative look at the critically important world of pensions."
Barbara Rudolph
Author, Disconnected
International Editor, The Deal
"Having lived through the S&L crisis, I can't help but wonder what policy makers might have done had they been presented with a concise, cogent description of the gathering of the perfect storm before events unfolded. Fran Hawthorne has written such a book for pension policy makers. Let’s hope they take heed."
Olena Berg Lacy
Assistant Secretary of Labor for the Pension and Welfare Benefits Administration, 1993–1998
"With clarity and even humor at times, Hawthorne examines a complicated, multifaceted, and often troubling phenomenon with broad current and future implications for companies, workers, retirees, taxpayers, and society as a whole. It is a cautionary tale well worth reading."
Phyllis C. Borzi
Counsel for Employee Benefits, U.S. House of Representatives, Committee on Education and Labor, 1979–1995
"Fran Hawthorne provides a thought-provoking and lively analysis of bankruptcy laws, specialized investment and capital market strategies, and where pensions fit into the strategies to move troubled companies forward. She discusses how the bankruptcy laws focus on the business in the future and how these laws ignore the rights of employees. She also suggests areas for policy change."
Anna M. Rappaport, F.S.A., M.A.A.A.
Anna Rappaport Consulting
Past President of the Society of Actuaries
Monday, March 24, 2008
Praise for the Book
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1 comment:
Fran: Your book has too many holes. What discount rate did United Airlines use? And, the other corporations? You mention 9%:is that the average? Historically the average return is 5%; that was buttressed by Warren Buffet. Unions pressed for a higher return and it wasn't possible. What did they expect, be able to order the tides to recede?
State governments have done the same thing. Paying 10 - 15% annuities. Only funding these pensions with 60% of the capital needed in the private sector. Stealing from the citizens to support these outrageous amounts. Your book has too many holes, too many questions unanswered: very few facts; but lot of hyperbole. I am going to write book. I can do better than yours. I just need a publisher.
Sincerely, Fred Starkey
3842 Hayden Bridge Road
Springfied, Oregon 97477
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