My understanding is that the problem isn't the cost of labor per se. Instead, it's rising health care costs. The medical provisions of GM's pension plan are p

My understanding is that the problem isn't the cost of labor per se. Instead, it's rising health care costs. The medical provisions of GM's pension plan are pretty lavish, and it's been underfunded for years. GM isn't all that unusual here -- a lot of other firms (and a number of state governments) have underfunded pensions. http://www.businessinsider.com/gm-retirees-rush-to-get-dentures-glasses-and-viagra-2009-6 http://www.businessinsider.com/gm-retirees-rush-to-get-dentu...