GM Facts and Fiction

[COPO 70 RS/Z28]

Ya know the problem with these pensions is a lot of the old time pensions are actually owned by the company not the individual. I think the company can show the pension on the books as an asset. The problem is (US AIR, United Etc.) If the company goes down the pension goes with it not to the employees. So if this is the case with the BIG 3, the line guys etc better be careful they could end up with "0"

I dont have a pension, I've always had to save for my retirement and plan for the future. No retirement health care etc. but I think a guy signs up for a deal he should get that deal weather he's a line guy or a fat cat. But I also beleive in loyalty and doing the best job I can and taking my lumps if I screw up. I think part of the problem is there is no loyalty from the bottom to the top in this deal, it's every man for himself and it's been that way for a long time. I could be wrong, but from a guy looking in from the outside ..........

10/10 RS/Z28 The problem really a combination of things.

Most of the blame for all of this lies at the feet of the Government and the only was to solve this is term limits. The only incentive these guys have is to get re-elected, there greed is just as bad as everyone elses just a lot more dangerous.


Im not going to get political this is not the place but I think you know what I mean.

[Hylton]

[ QUOTE ]
Ya know the problem with these pensions is a lot of the old time pensions are actually owned by the company not the individual. I think the company can show the pension on the books as an asset. The problem is (US AIR, United Etc.) If the company goes down the pension goes with it not to the employees. So if this is the case with the BIG 3, the line guys etc better be careful they could end up with "0"


[/ QUOTE ]

I think you meant to say pensions are shown as liabilities on company books and so pensioners become another creditor in the event that the company declares bankruptcy. If GM goes Chapter 7, pensioners will lose everything. If GM goes Chapter 11, pensioners will probably get less then what they are getting now if anything at all.

[JRSully]

You think the DEFICIT will even be an issue once Obama takes over.? It will be SO BLOWN OUT that cutting it down and/or addressing it won't even be an afterthought for the next President, see everybody tomorrow afternoon at VF, safe travels to all that are going. SULLY