Tag Archives: gm pensions

GM Pension Buyout Financial Engineering or Coup?

Posted on 4 June 2012 by Ken Zino

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 →

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GM to Freeze U.S. Pension Plans and Convert to 401Ks

Posted on 16 February 2012 by Ken Zino

GM’s global pension plans were underfunded by $24.5 billion, an increase from $22.2 billion at the end of 2010, GM reported today in its year-end results. Of that potentially crippling debt $13.4 billion is in the U.S. Continue reading →

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GM Gives Stock to Its Deeply Underfunded Pension Plan

Posted on 14 January 2011 by Ken Zino

General Motors Company (NYSE: GM) today confirmed it has completed a contribution of 60.6 million shares of GM common stock to its U.S. hourly and salaried pension plans, valued at roughly $2 billion. Continue reading →

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