[DML] Re: DeLorean Accountants AA

["jtrealtywebspannet" <jtrealty@xxxx>]

I know the moderater said no more but I just wanted to reply.

[Moderator Note: Dave is lucky he stumbled into a moderator who
is interested in this subject. But this is definitely the
last post in this thread UNLESS some DeLorean-related news comes
out, or a DML subscriber wants to post the URL of another
discussion group where the Arthur Anderson thread will
continue. - Mike Substelny, this week's moderator]

Techinicaly you are correct, the losses are to the personal retirement 
accounts not the "pensions". To most people's minds they are similar 
enough that they use the terms interchangeably. The REAL result is now 
these employees will have less to retire on because the stock they 
bought and could not sell or trade is worthless. The real injustice is 
many of the executives were able to dump their stock before the end 
and even made money on it before it tumbled. 
David Teitelbaum
vin 10757

--- In dmcnews@xxxx, Mike Hirko <mikehirko@xxxx> wrote:
> ***** Moderator's Note *****
> This is the last post on the Arthur Anderson situation. 
> Let's get back to the cars...
> *****
> 
> David Teitelbaum wrote:
> <snip>... not only did all of the [Enron] employees lose
> their livelyhood, their pensions were lost too!... <snip>
> 
> This is not true. Their pensions are protected by a
> federal law, the 'Employee Retirement Income Security Act'
> of 1974, acronym ERISA. Every Enron employee WILL receive
> their vested PENSION benefits.

[moderator snip]

> Let me repeat - IT IS NOT
> TRUE THAT ENRON EMPLOYEES HAVE LOST THEIR PENSIONS!
> 
> Mike Hirko
> VIN 1387