Skip to comments.Fidelity owed $12M for pension, benefit services ( General Motors )
Posted on 06/03/2009 10:01:06 PM PDT by george76
Boston-based Fidelity Investments is one of General Motors largest unsecured creditors, owed some $12 million for overseeing the auto giants pension plans and other employee benefits.
GMs Chapter 11 bankruptcy petition yesterday listed Fidelity as the automakers 26th largest creditor, with $11,980,946 due. All told, GM listed $172.8 billion in debt.
Fidelity and other vendors run GMs pensions, health insurance, workers compensation and other employee-benefit plans
(Excerpt) Read more at bostonherald.com ...
A family member writes code for this product for Fidelity.
They are stressed beyond belief.
Peanuts when compared to what GM owes any number of other creditors, probably including its own pension funds.
Sounds like a bunch of good libs who won’t mind seeing their money go to hard working, blue collar union folks. :)
C'mon, that's freakin' couch droppings compared to what we put down that rathole before they went BK...
Suck it up and quit whinin' Fidelity, bunch of pansies...
Don’t know about you, but my company has my 401 invested in fidelity - no option for me
Maybe they can ask Barney Frank for their money back from the fund raiser they threw for him to help make up the short fall....
Barney Frank should hold a fund raiser for Fidelity
...bankruptcy petition yesterday listed Fidelity as the automaker's 26th largest creditor, with $11,980,946 due. All told, GM listed $172.8 billion in debt. Fidelity and other vendors run GM's pensions, health insurance, workers compensation and other employee-benefit plansThanks george76.
Barney Frank should auction himself to the highest bidder on EBAY to help Fido.
Mines in Wells Fargo, which is little better in the “we don’t know what the hell the liabilities are” department but seeing’s how I’ve been a “gloom and doomer” since ~2003, I had it all parked in money market and it’s actually realized an annual positive return every year.
At this time though, I’m about to take out the full loan amount on it and use <50% to pay off the last of our debt and the rest to PMs or a cash reserve...