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Pension costs are not unknowable - that sounds like a failure to plan for future costs.
by pacerwpg 8y ago
Pension costs are not unknowable - that sounds like a failure to plan for future costs.
- mimixco 8y agoIt wasn't a matter of not knowing them. They knew. They were negotiated by the unions. It was a matter of not having enough money to pay them. GM simply cannot sell cars at market prices and also pay all the pensions and higher wages that the union demands. It's not workable.
- toomuchtodo 8y agoIt could’ve funded the pension fund instead of performing share buybacks, no? It can’t be said they didn’t have that $10 billion. They had it.