MLB Owners attempting to cut pensions

[Kyyle23]

http://espn.go.com/new-york/mlb/story/_/id...nel-sources-say

 

Major League Baseball owners, despite boasting $8 billion in annual revenue and climbing, are moving toward eliminating the pension plans of all personnel not wearing big league uniforms, sources told ESPNNewYork.com.

 

The first attempt to do so, initiated last year by a small-market owner, was voted down after Chicago White Sox owner Jerry Reinsdorf chastised his brethren for being petty with the lives of ordinary people given the riches produced by the sport. A second vote, which was intended to be kept secret, is now scheduled to take place at owners meetings May 8-9 in New York.

 

 

A majority of owners now favor the abolition of the pension plan, a source said.

 

The impact would affect much of the Major League Baseball family: front-office executives, trainers, minor league staff and scouts. Some of those personnel, particularly on the minor league level and in amateur scouting, make less than $40,000 a year and rely on pensions in retirement

 

 

Good for Jerry

 

 

[HuskyCaucasian]

But Jerry is a penny pinching tightwad.....

 

In all seriousness, big thumbs up to Jerry.

Edited March 19, 2013 by Athomeboy_2000

[southsider2k5]

Wow.

[Balta1701]

Wow.

and in 1 short article, all of 2k5's respect for chairman reinsdorf evaporates...

[Quin]

Rein$dorf is cheap and evil though :0

[LittleHurt05]

I assumed this was referring to the players' pensions, which I had no issue with. But everyone else's pensions? Whoa.

[HuskyCaucasian]

Unless an organization is under deep financial distress, cutting pensions is a major dick move.

[Balta1701]

I assumed this was referring to the players' pensions, which I had no issue with. But everyone else's pensions? Whoa.

I believe the players pensions are funded directly by the All Star game revenue.

 

The players also have negotiating power. They have a union, they have a collectively bargained contract. I'd imagine many of the other employees have no such power.

 

Getting rid of pensions is normal business practice these days.

[witesoxfan]

Major League Baseball owners, despite boasting $8 billion in annual revenue and climbing, are moving toward eliminating the pension plans of all personnel not wearing big league uniforms, sources told ESPNNewYork.com.

 

The first attempt to do so was initiated last year by Jeffrey Loria, was voted down who started bawling after Chicago White Sox owner Jerry Reinsdorf chastised his brethren for being petty with the lives of ordinary people given the riches produced by the sport b****slapped the s*** out of him and told him to quit being a greedy f***wad. A second vote, which was intended to be kept secret, is now scheduled to take place at owners meetings May 8-9 in New York, to which Reinsdorf said, while thrusting his groin, "SUCK IT B***H!."

 

 

[southsider2k5]

Loria. It figures.

[witesoxfan]

I don't know if it actually was, I was just making a funny, but you have to figure that's who did it.

[StrangeSox]

Good for Jerry

 

[LittleHurt05]

I believe the players pensions are funded directly by the All Star game revenue.

 

The players also have negotiating power. They have a union, they have a collectively bargained contract. I'd imagine many of the other employees have no such power.

 

Getting rid of pensions is normal business practice these days.

 

I get all the business stuff. It's just with TV revenues rising, which have increased teams' payrolls, its interesting to see them make cuts at the other end of the payroll spectrum.