Thursday, August 5, 2010

Companies Not Restoring 401(k)s

Daniel Gross reports on the sweet benevolence of business:

The 401(k) Travesty

"Recent government data suggest an economy in confusion. Growth and consumption are slowing, but savings are rising, up to 6.4 percent of personal income. The savings rate, in fact, has been climbing for three years, as Americans have been hoarding cash to protect themselves against the struggling economy....."

Hugely profitable companies that won't restore the 401(k) match they ditched in 2008.

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