-
Recent Posts
- Honda Post Record Operating Profit of $7B in FY 24
- Toyota Motor Posts Record FY24 Net Income of $39.1B
- Nissan Motor Posts FY Net Profit of $2.7 billion
- Hyundai Capital America Fined for Civil Rights Violations
- BMW Group – Good Q1 Earnings on Slight Sales Increase
- Greenhouse Gases – EPA Final Rule for Oil and Gas Sector
- Annals of Marketing – Audi Electric Mountain Bike
- Ford Maverick Pickups Recalled for Tail Light Failures
- The 2025 Genesis SUV – $57,700 to $79,300
- The April 2024 U.S. Jobs Report – is Stable Good?
- April 2024 US Vehicle Sales Drop Slightly
- Mercedes-Benz Q1 2024 Profit Drops 25% as Sales Slump
- Penske Automotive Group 2024 Q1 Earnings Drop
- Stellantis Q1 Revenues, Shipments Drop – Transition or Trend?
- NHTSA Makes Automatic Emergency Braking Mandatory
Recent Comments
- Robert Kurnick on Penske Automotive Group 2024 Q1 Earnings Drop
- Dr. K. Venkatesh Prasad on Southern Labor Rights Boosted at VW. Daimler Next
- Janet L. Yellen on EPA Celebrates Inflation Reduction Act Anniversary
- Lael Brainard on Auto Industry Continues to Rebound from Pandemic Lows
- United Auto Workers Union on EPA Finalizes Vehicle Pollution Standards for 2027-32
Archives
Meta
Tag Archives: pensions
GM Pension Buyout Financial Engineering or Coup?
General Motors announced that it would offer lump-sum buyouts to 42,000 retired salaried employees while 76,000 others would have their pensions transferred to The Prudential Insurance Company of America, which would take over the GM white-collar plan. Continue reading
Posted in auto news, financial results, insurance, news, news analysis, results
Tagged auto informed, autoinformed.com, automotive news, gm pensions, Ken Zino, pension buyouts, pensions, prudential
Leave a comment
PBGC, Bendix Reach Settlement, End Litigation over Pensions
Critics of the federal agency say it has been lax and ineffective in protecting pensions. Under today’s settlement, PBGC won’t require Bendix to put up collateral for the remaining $8.4 million in pension liability, provided the company remains financially strong until the end of the year. Continue reading
Posted in auto news, financial results, labor issues, litigation, news analysis, results
Tagged auto informed, autoinformed.com, automotive news, bendix, Ken Zino, knorr-bremse, pbgc, pensions
Leave a comment
American Airlines to Freeze not Kill Pensions in Union Victory
The so-called pension freeze covers unionized flight attendants and other ground workers, but does not cover American Airline pilots because their pension plan includes a lump-sum payment upon retirement. It would have been possible for some of them to flee the once proud airline, meaning American would have an expensive aviation museum consisting of planes largely on the ground. Continue reading
PBGC Sues Bendix for Pension Debt from Plant Closing
The action against German-owned Bendix is the first time PBGC has had to go to court to compel a company to cover pension obligations from a plant closing. Continue reading
Posted in auto news, economy, labor issues, litigation, news analysis
Tagged auto informed, auto news, autoinformed, autoinformed.com, automotive news, bendix, bendix commercial vehicle systems, bnedix frankfurt kentucky plant, Ken Zino, pbgc, pension benefit guaranty corporation, pension defaults, pensions, zino
Leave a comment