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I don't remember the exact quote or who said it, but it goes something like this:

Success is how high your bounce when you hit the bottom.

There were so many responses to my outreach on this topic.  I may think it is time for some class action lawsuits!

Here are a couple stories that might cause you to sit straighter in your chair and think smarter about your future.

Example #1:  A 62 yr old man, we'll call him Frank, has been an exemplary life long employee of a major corporation.  His job title was 'Director of Facilities Management'.   The company was bought out and like rats from a sinking ship, his counterparts and peers quickly found other positions.  

Frank and 8 or 10 other management people were approached by the new owners who declared their positions were safe and were promised big raises if they would stay on.  So Frank and his associates buckled down, worked harder, made the management transition WORK.

I'll bet you can see where this story is going? 

A few weeks ago Frank and his friends were called together in a meeting.  All of them were sure that they were to be told their raises would be in effect retroactive.  Not only did Frank NOT get his promised $30,000 raise, they were all told to pack their bags and hit the road. 

No severance package, their retirement pensions were gone and they were only given one week's pay.

I asked Frank if they were going to file a lawsuit.  No he said, they couldn't fight the big machine and really didn't want to. 

One of the tragedies of this unfortunate event is that Frank had been offered several good jobs during the 'transition' period. 

So what is Frank to do?  He's thinking about getting an insurance license and working for a company offering Medicare supplemental health insurance. 

We'll keep an eye on Frank and let you know how he is doing!

More on this topic?   See what is happening to teachers! Click HERE

Relevant Baby Boomer Bash document: ../selfemployed.htm

Your stories about downsizing and getting the 'boot' for any reason are welcome!  We'll collect them, consolidate and publish.  No real names or people are used so fear not.  We'll protect your privacy and anonymity.

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