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While America Aged | [Roger Lowenstein]

While America Aged

Roger Lowenstein explains how corporations and governments ran up ruinous pension and health-care promises to workers - promises that are now coming due and that will hit America like a tsunami if nothing is done.

Negotiating high benefits means gambling with future finances - and when the farm gets sold out from underneath major corporations or public institutions, it affects all of us, and in ways we might not imagine. With his trademark narrative panache, Lowenstein unravels the truth about how pensions work in America and illuminates the impending crisis.

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Publisher's Summary

In While America Aged, best-selling author Roger Lowenstein explains how corporations and governments ran up ruinous pension and health-care promises to workers - promises that are now coming due and that will hit America like a tsunami if nothing is done.

Negotiating high benefits means gambling with future finances - and when the farm gets sold out from underneath major corporations or public institutions, it affects all of us, and in ways we might not imagine. With his trademark narrative panache, Lowenstein unravels the truth about how pensions work in America and illuminates the impending crisis.

©2008 Roger Lowenstein; (P)2008 BBC Audiobooks America

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  •  
    Laurie Florence, KY, United States 06-24-08
    Laurie Florence, KY, United States 06-24-08 Member Since 2005
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    "More detail than I wanted"

    I listened to this book in order to better understand pensions, since I am (apparently) part of a shrinking number of working Americans still accruing a one. The book goes into a little more detail than I had hoped for, particularly in regards to the San Diego pension crisis and the NY city workers pension fiasco. The reader is not the best, either. So, while you get the general concepts behind why pensions are being phased out, you may feel bogged down a bit by the minutia.

    1 of 1 people found this review helpful
  •  
    Michael Wright 06-19-08 Listener Since 2006
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    "While America Aged"

    An interesting book. However, the monotone voice of the reader makes it hard to listen.

    1 of 1 people found this review helpful
  •  
    Chris new york, NY, United States 01-10-09
    Chris new york, NY, United States 01-10-09 Member Since 2008
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    "A dry departure from L's usual page turner, but"

    This is an outstanding condensation of the the history of US labor relations as they unfolded within the Auto industry. Lowenstien paints a grim, but I fear all too accurate, picture of the futility of taxpayer recent bailout of an already comatose industry. He is even handed in his citing of causes: inept management and a culture of expediency matched by an ever over reaching UAW. Even more sobering is his treatment of New York City and State, the culture of cronyism and pandering that lead to disastrous and irrevocable concessions given to the unions over the years. Lowenstien names names, and cites specific salaries and pension obligations and points out those who stand to earn more in retirement at the age of 55 or younger, than they did while they were working. Astonishing.

    Read this book before the next strike is threatened.

    0 of 0 people found this review helpful
  •  
    William Milz Wisconsin 07-05-08
    William Milz Wisconsin 07-05-08 Member Since 2008

    wmilz

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    "Timely information neutral presentation"

    Good coverage of combined misuse of trust by retirees in the system. The attempts to maintain an "unbiased position" leave the implication that the workers are equally to blame as the owners. If that is so, how do we explain the massive shift in wealth distribution -- the autoworker who retires at 50 years old does not have a comparable portion to the CEO who is let go with a REAL golden parachute.

    1 of 2 people found this review helpful
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