http://finance.yahoo.com/tech-ticker/article/yftt_103116/What-Happens-if-GM-Goes-Bankrupt-Not-Much?tickers=gm,f
I feel sorry for you if your pension is with GM. I feel sorry for you if you lost your job because GM failed. But if we leverage the US into paying for a company that has a track record of being inept, we'll be setting ourselves up for a new level of inflation and dollar devaluation that will hurt our children, and their children.
So do we suffer now, and remain Capitalists? Or make our children pay later, and become socialists?
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Originally Posted by Brucelee
One correction. Depending on how GM sets up its pension, chapter 11 may have no long term impact on one's ability to collect a pension. Employers are free to fund pensions in many ways. One way is for them to purchase annuties that are prefunded. Hence, a current pensioner's funds flow may be fine and may come from say, Prudential or Allstate.
Also, some pension funds are moved to the union, who is repsonsible for investments, payouts and the like.
Not sure how the UAW's sets up their pension arrangments.
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