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See What CFO Magazine and the ESOP Reporter Said About Steve Mazda!
Whole Lot of Raiding Going On [ November 1995 ]
Trustee Receives ESOP Stock [May 1987] ___________________________________________________________________
In 1981, Steve Mazda's father called him in Honolulu, Hawaii,
and asked him how he was paying his bills. He was two years out of
college at the time. His response, "Dad, I have decided to become an
expert in a new type of retirement savings plan. They don't have a
name for it yet but it falls under section 401 of the internal
revenue code paragraph K. We are calling it a 401(k) for now." "I
read about that in Time magazine and they are going to make that
illegal, you're wasting your time, no one will buy that plan." his
dad barked over the phone. "Dad, my boss Bob Midkiff has a call
lined up with our Senator, Spark Matsunaga. We're going to call
Rostenkowski and Packwood in Washington and explain to them how this
plan is going to increase the savings of all Americans, which should
drive the stock market to new highs and interest rates to new lows."
All it took was votes, and the rest is history. We can make
allocated, private, 2% social security accounts a law with your
votes. |
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