The head of AOL has decided to reinstate retirement benefits and apologize after a firestorm over the following comments:
As a C.E.O. and as a management team, we had to decide, do we pass the $7.1 million of Obamacare costs to our employees? Or do we try to eat as much of that as possible and cut other benefits?…
Two things that happened in 2012. We had two AOL-ers that had distressed babies that were born that we paid a million dollars each to make sure those babies were OK in general. And those are the things that add up into our benefits cost. So when we had the final decision about what benefits to cut because of the increased healthcare costs, we made the decision, and I made the decision, to basically change the 401(k) plan.
It is a tribute to the focus, dedication, and perspective of our excellent media in this country that they managed to focus on the real issue here (did a CEO make some stupid remarks?) and not get sidetracked by a silly and frivolous side issue (wait: did a CEO just say ObamaCare will cost his company over 7 million dollars?).
P.S. AOL is still a thing? I want to know where the CEO of CompuServe stands on these issues!