In Reply to: Re: IBM Owes $6 Billion To Retirees posted by GrumpyGuts on 08 June 2004 at 08:24:28:
: As I understand it - the judgement is in the US about the US scheme and will have no legal effect on the UK.
: However the funding requirement comes out of corporation profits and a cynical grumpy chap like me might conclude that the dent in profits and the desire to punish all pensioners might have an effect on IBM pensions worldwide. Any comment further than saying that would be pure spec.
Has anyone calculated the extra Bonuses/Share Options that Lou Gerstner/Sam Palmissano got from the changes they enacted on the US employees/pension fund...will the US courts have the power to get them to repay it to IBM as part of the 6 billion they will have cost the company by their actions deemed illegal by the court's judgement of the class action case.
Why are class action cases not allowed in the UK/European Union?