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Pensions weigh on car firms: Sinking stock market, glut of new retirees drain funds
Detroit News ^ | November 14, 2002 | Ed Garsten

Posted on 11/14/2002 1:17:04 AM PST by sarcasm

Edited on 05/07/2004 7:09:07 PM PDT by Jim Robinson. [history]

DETROIT -- Turbulent financial markets combined with a growing number of retirees are draining the pension funds of major automakers and their suppliers at a rate that could curtail their ability to invest in new models and compete against foreign challengers.


(Excerpt) Read more at detnews.com ...


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1 posted on 11/14/2002 1:17:04 AM PST by sarcasm
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To: sarcasm
How many companies will face the same thing as the baby boomers head for the exits?
2 posted on 11/14/2002 3:50:45 AM PST by aardvark1
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To: sarcasm
Not to worry, the unions have been looking after the workers welfare.
3 posted on 11/14/2002 4:13:24 AM PST by Leisler
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