Submission + - Microsoft: Nice Pension You Got There. Be a Shame If Something Happened to It. 1
theodp writes: "Last week, I spoke to Microsoft employees about our immigration program," wrote Microsoft President Brad Smith in a Tuesday LinkedIn post (Microsoft was recently suspended from the Green Card program). "In the spirit of transparency and public interest, we are sharing this more broadly."
In the accompanying video, Smith begins: "Hi, everybody. Yes, there was an announcement last week by the administration, and yes, it's really causing us to do a lot of work to focus on what we need to do to really preserve our ability to succeed and protect the people who work here."
Smith concludes by suggesting that what's bad for Microsoft is also bad for U.S. workers' pensions and 401K's: "We contribute to communities across the United States — not just in our jobs, not just in our philanthropy — but perhaps most importantly, we create wealth in every community across this country. [...] Microsoft has $1.2 trillion dollars of stock held by pension funds and index funds in the United States. What does that mean? If you're an employee in the United States who benefits from a pension, let's say you work for the government. You could be a school bus driver or a teacher, a firefighter, or a police officer. You are better off today because of the wealth we have created. If you work for a labor organization, a union that has a pension fund, you could be a carpenter or electrician, a welder or a plumber or a pipe fitter. The same is true for you. In fact, the truth of the matter is you would be hard pressed to find any institution in the history of the United States that has created more wealth for more people across the United States — millions and millions of people."
In the accompanying video, Smith begins: "Hi, everybody. Yes, there was an announcement last week by the administration, and yes, it's really causing us to do a lot of work to focus on what we need to do to really preserve our ability to succeed and protect the people who work here."
Smith concludes by suggesting that what's bad for Microsoft is also bad for U.S. workers' pensions and 401K's: "We contribute to communities across the United States — not just in our jobs, not just in our philanthropy — but perhaps most importantly, we create wealth in every community across this country. [...] Microsoft has $1.2 trillion dollars of stock held by pension funds and index funds in the United States. What does that mean? If you're an employee in the United States who benefits from a pension, let's say you work for the government. You could be a school bus driver or a teacher, a firefighter, or a police officer. You are better off today because of the wealth we have created. If you work for a labor organization, a union that has a pension fund, you could be a carpenter or electrician, a welder or a plumber or a pipe fitter. The same is true for you. In fact, the truth of the matter is you would be hard pressed to find any institution in the history of the United States that has created more wealth for more people across the United States — millions and millions of people."
