CORPORATIONS: Something for Something

Should pension systems be set up for all U.S. industrial workers? Last week, after a survey of 1,000 industrial executives, Mill & Factory magazine reported that 78% of them would go along with some sort of company pension plan. Only 6% think the company should bear the entire cost. As for federal pensions, 89% would rather install company plans than pay for a major expansion of the Government’s Social Security program. Growled One Midwest manufacturer: “Our whole system is degenerating to the point where something for nothing is a fad . . . The mad scramble is to be one of the fortunate few … on the receiving end . . . Union leaders are playing the role of a master of ceremonies on a giveaway program.”