|
Post by bullishbear32 on Sept 8, 2012 13:49:31 GMT -5
|
|
|
Post by proforkodak on Sept 8, 2012 14:10:00 GMT -5
>>>"Pro, could you explain exactly why 90% of the OPEB is not a valid claim? I'm having a little difficulty there. Thank you"<<<
1)In 1991, Kodak like MANY other corporations, created NEW OPEB plans that were completely at the UNILATERAL discretion of the corporation.
2)The PRE 1991 OPEB plan had VESTING rights for employees, such that these OTHER POST EMPLOYMENT BENEFITS( OPEB) were NOT at the UNILATERAL discretion of the company.
3)People who retired PRE 1991, are NOW in their mid to 70s and OLDER. They are rapidly going to the big yellow box in the sky. They only make up about 10% of the total LIFETIME estimated liabilities of ALL of the OPEB liabilities.
4)Kodak can cut deals with the PRE 1991 people on an individual basis, but Kodak canNOT unilaterally cancel their VESTED benefits.
5)Kodak CAN UNILATERALLY CUT ALL the benefits of the POST 1991 OPEB.
6)ALL of the PRE 1991 OPEB are covered by Medicare.
7)So, Kodak can OFFER a deal to these people individually, OR Kodak can PAY an insurance company to take the remaining PRE 1991 OPEB people off their hands.
|
|