Retirement Heist: How Companies Plunder and Profit from the Nest Eggs of American Workers

Retirement Heist: How Companies Plunder and Profit from the Nest Eggs of American Workers

by Ellen E. Schultz

Hardcover

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Product Details

ISBN-13: 9781591843337
Publisher: Penguin Publishing Group
Publication date: 09/15/2011
Pages: 256
Product dimensions: 6.28(w) x 9.26(h) x 0.90(d)
Age Range: 18 Years

About the Author

Ellen E. Schultz is an investigative reporter for The Wall Street Journal who has covered the so-called retirement crisis for more than a decade. Her reporting has led to Congressional hearings, proposed legislation, and investigations by the Treasury and the GAO.

Schultz has won dozens of journalism awards for economics, financial, and investigative reporting, including three Polk Awards, two Loeb awards, and a National Press Club award. In 2003, Schultz was part of a team of Wall Street Journal reports awarded the Pulitzer Prize, for articles on corporate scandals. She lives in New York City.

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Retirement Heist 4.5 out of 5 based on 0 ratings. 11 reviews.
Anonymous More than 1 year ago
That people raise children that become cogs and leaders in the schemes exposed in this book. It is sad how little it costs to buy a governent officials vote. Organized crime runs the country.
rufusraider on LibraryThing 7 months ago
This book is a must read for anyone with a pension provided by their employer. Especially for anyone whose employer has frozen/restructured their retirement plan. It exposes a lot of the truth about why private pensions are an endangered species. It is primarily the greed of the executives and management of the pension plan to provide boosts to earnings that result in raises for the executives. The private pensions are also used to help support the unfunded executive pension plans. The primary cause of underfunded private pension plans is the unfunded liabilities of the executive and overseas pension plans, not the pension plans of the peasants as they are described by the executives. The book title is Retirement Heist by Ellen Schultz.
nivramkoorb on LibraryThing 7 months ago
Great book. Read it and weep. Corporate America continues to transfer wealth away from the middle class to the upper class. Showing no sense of responsibility, they feel no remorse in denying retirees pensions and health benefits. Ellen Schultz backs up all her assertions with real examples. She gets behind the double talk from all the fortune 500 companies that have no problem saying or doing what they need to in order to maximize the bottom line and their paychecks. The evidence keeps mounting that the last 30 years have given us the same distance between the upper class and lower class that existed 200 years ago.
RedMcBlue More than 1 year ago
Next time you read a news report that ¿the company is being crippled by legacy pension & healthcare costs¿ then you will understand the fraud, theft, lies and management greed behind that claim. Millions of blue & white collar workers are having their justly-earned futures stollen to make fortunes for a few elite executives, but almost nothing is being done about it. My only complaint is that there was not more. Quite an education. Note: Should have purchased in the traditional format, so that I could pass the book on to others, or give as a gift, with no weird digital restrictions.
JD48 More than 1 year ago
This book was extremely revealing for me. It uncovered some of the major reasons for our economic failures in the area of retirement funding. This is major for those who wish to understand the truth behind the current economic conditions.
discobill More than 1 year ago
Required reading for anyone wanting to know how corporations go about cheating former employees out of promised pension and health care benefits through a system of accounting gimmicks, legal maneuvering and out right lies. And how they go about funding their massive deferred compensation packages. This is not an easy read, but well worth it. The author takes you through some areas (notably accounting practices) that some may not understand or want to take the time to understand. But if you have ever worked in corporate America many subjects will hit home and you might understand deeper motives behind what is happening now (most notably the efforts to destroy collective bargaining). Check this book out. I thought I couldn't get any angrier at the current state of affairs. I was wrong.
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