Now, if the retirees get dumped, you know who gets the bill? The Taxpayers. Ever hear of the Pension Guarantee Corp.? Every time an unethical company weasels out of its pension obligations, the government--that is, the taxpayers--gets stuck with the tab.
So I guess the choice is, do we pay for an attempt to rebuild a viable GM, or do we pay for their retirees because the company didn't put enough money into the pension fund in the good years? Or do we get stuck paying for BOTH?
I don't think the retirees should have to "suck it up" just because the company didn't plan for the future properly. GM should've thought about the retirees before paying out millions in salaries and bonuses to the white-collar folks in good times and bad. Dumping the retirees off on the taxpayers is a chickens#it way out...let 'em go after Roger Smith and a few other execs and take back some of the millions in compensation THOSE folks got from GM first, before the taxpayers have to foot the bill.
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Today's Featured Article - An AC Model M Crawler - by Anthony West. Neil Atkins is a man in his late thirties, a mild and patient character who talks fondly of his farming heritage. He farms around a hundred and fifty acres of arable land, in a village called Southam, located just outside Leamington Spa in Warwickshire. The soil is a rich dark brown and is well looked after. unlike some areas in the midlands it is also fairly flat, broken only by hedgerows and the occasional valley and brook. A copse of wildbreaking silver birch and oak trees surround the top si
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