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 - 12-Volt Conversions for 4-Cylinder Ford 2000 & 4000 Tractors - by Tommy Duvall. After two summers of having to park my old 1964 model 4000 gas 4 cyl. on a hill just in case the 6 volt system, for whatever reason, would not crank her, I decided to try the 12 volt conversion. After some research of convert or not, I decided to go ahead, the main reason being that this tractor was a working tractor, not a show tractor (yet). I did keep everything I replaced for the day I do want to restore her to showroom condition.
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