[lbo-talk] new frontiers in employee ownership

[Jordan Hayes]

>> Jordan: "I always thought it was really just the main mechanism for
>> avoiding pension costs"
>
> [WS:]  This is just one way of socializing costs and privatizing
> profits, no?

When Microsoft does it, how does that 'socialize' the cost?

What I'm saying is that NYC is no different from Microsoft: there's 
nothing special about the public-ness of NYC in this case.  The original 
estimate was $73M, and it went to $700M (now down to $200M net, I 
suppose :-) ... Bloomberg looked at it and said: as a one-time charge, 
it's cheap compared to having to take care of City employees "forever" 
... he probably still thinks it's cheap, and he's probably even right.

/jordan