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Lyft lays off 17% of workforce, furloughs hundreds more

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Re: Lyft lays off 17% of workforce, furloughs hundreds more

#231

Post by kennymeyers »

chrisseaton wrote: post #204
jagged-chisel wrote: post #191

Earlier quoted context omitted.

Those with pensions tend to be union members; the pension being a benefit insisted upon in negotiations between unions and their (government) employers. If a state declares bankruptcy, lists pensions as a debt, and the federal discharges the pension debt, the GOP can thumb their noses at unions in a very big way.

> Those with pensions tend to be union members I still don't understand. Surely almost every professional has a pension, but few people are in unions.

Very few professionals in the United States have pensions.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#232

Post by wonderwonder »

chrisseaton wrote: post #204
jagged-chisel wrote: post #191

Earlier quoted context omitted.

Those with pensions tend to be union members; the pension being a benefit insisted upon in negotiations between unions and their (government) employers. If a state declares bankruptcy, lists pensions as a debt, and the federal discharges the pension debt, the GOP can thumb their noses at unions in a very big way.

> Those with pensions tend to be union members I still don't understand. Surely almost every professional has a pension, but few people are in unions.

There are very few companies that offer pensions. A 401k is not a pension. A pension is recurring money that is given to you upon retirement in perpetuity. A 401k is just a means of investing your salary into the stock market pre-tax. Your employer does not even have to contribute to it although many if they offer a 401k plan offer some form of match up to x%. My last employer offered to match my contributions up to 6% my current employer offers no match. 401k and pension are very different.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#233

Post by [deleted] »

wonderwonder wrote: post #232
chrisseaton wrote: post #204

Earlier quoted context omitted.

> Those with pensions tend to be union members I still don't understand. Surely almost every professional has a pension, but few people are in unions.

There are very few companies that offer pensions. A 401k is not a pension. A pension is recurring money that is given to you upon retirement in perpetuity. A 401k is just a means of investing your salary into the stock market pre-tax. Your employer does not even have to contribute to it although many if they offer a 401k plan offer some form of match up to x%. My last employer offered to match my contributions up to…

[deleted]

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#234

Post by linuxhansl »

cpursley wrote: post #176
Loughla wrote: post #157

Earlier quoted context omitted.

Real questions. I'm not a history buff. Has there ever been a time in US history that the federal government has been so openly antagonistic and overtly willing to attack opposite-party state governments? If so, what were the outcomes? If not, is there anything even close? Current question - what is the endgame for those who what blue states to go bankrupt? What do they get if that happens, outside of talking points?…

> overtly willing to attack opposite-party state governments It might be straight-up politics. But there is a real situation where state governments have been financially mismanaged. Should the "working class" person in Alabama without any retirement prospects be forced to bail out (via the Federal Gov't) the state of California's very generous pensions that were not fiscally sustainable in the first place?

This kind of thinking leads down a sad, unproductive, and dangerous "me first" path. Let's avoid falling back into tribal thinking. This applies to states as much as countries (as seen in Europe right now).

If pensions or any other specific things are mismanaged - which IMHO is in fact the case in California - let's fix them together.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#235

Post by [deleted] »

chrisseaton wrote: post #226
Loughla wrote: post #223

Earlier quoted context omitted.

Very few people in the United States have pensions. Mainly pensions are available for state employees, or union members. And for that matter, state employees tend to be part of a union. Unions are responsible for pensions, and the only people who have held onto them as the 401k has taken over. Edit: Because I apparently can't reply to chriseaton below - 401k is defined contribution, you contribute $x which is a set a…

I think a 401(k) is a pension? Almost all companies offer a 401(k) for full-time employees.

[deleted]

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#236

Post by Loughla »

chrisseaton wrote: post #218
wikibob wrote: post #214

Earlier quoted context omitted.

Are you in the USA? Pensions are defined benefit. That is, it is specified exactly how much money you will receive in retirement. A 401K retirement plan is not a pension. You save your own money and possibly an employer contribution, and you make your own investment decisions. The value goes up and down in accordance with what you invested in.

> A 401K retirement plan is not a pension. Are we both talking about https://en.wikipedia.org/wiki/401(k) ? "In the United States, a 401(k) plan is the tax-qualified, defined-contribution pension"

Defined contribution (401k) is not the same as defined benefit (pension).

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#237

Post by beefalo »

x86_64Ubuntu wrote: post #144
whymauri wrote: post #65

Earlier quoted context omitted.

AFAIK, the FANG acronym was meant to represent the FAANG stocks, not the perceived quality of engineering within the industry.

I didn't know that. I thought it was because of their engineering chops.

The term was coined by Jim Cramer as the group of well performing tech stocks

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#238

Post by rajup »

adamsea wrote: post #216
tenpies wrote: post #193

Earlier quoted context omitted.

> Has there ever been a time in US history that the federal government has been so openly antagonistic and overtly willing to attack opposite-party state governments? If so, what were the outcomes? If not, is there anything even close? To be honest the most interesting thing to me is the US media. I don't think it has ever been so openly hostile towards one party and so hungry to cause a civil war. They're not even h…

If you were a member of the media and the President of the United States - of any party - suggested people try injecting bleach as a cure (for anything), what would you do? What would you say about other politicians who implicitly supported such irresponsible behavior. This isn't even a political question - I mean it's basic science. Bleach.

Nobody suggested injecting bleach, please stop spreading exaggerated misinformation.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#239

Post by claydavisss »

thehazard wrote: post #180
cpursley wrote: post #176

Earlier quoted context omitted.

> overtly willing to attack opposite-party state governments It might be straight-up politics. But there is a real situation where state governments have been financially mismanaged. Should the "working class" person in Alabama without any retirement prospects be forced to bail out (via the Federal Gov't) the state of California's very generous pensions that were not fiscally sustainable in the first place?

You know that California bails out the majority of the rust belt indirectly via State taxes, right? Curious how you consider that in the equation.

The net outflow from California at this point is a rounding error and the equivalent sum is basically being printed by the Fed every ninety minutes each working day. No one is solvent.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#240

Post by [deleted] »

Loughla wrote: post #236
chrisseaton wrote: post #218

Earlier quoted context omitted.

> A 401K retirement plan is not a pension. Are we both talking about https://en.wikipedia.org/wiki/401(k) ? "In the United States, a 401(k) plan is the tax-qualified, defined-contribution pension"

Defined contribution (401k) is not the same as defined benefit (pension).

[deleted]
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