China swoops down on GM pension plan's assets: FT

Reuters ^ | July 18, 2012

[the invisib1e hand]

Succinct.

[madison10]

I think that pension set up (GM stock) is for those that were still working and building up pension when GM went into “bankruptcy” and are still working or retired after the bankruptcy. I’m talking about those that are/were already retired. Don’t take my word for this, I’m still trying to figure it out.

Thanks.

[norton]

My guess is that the early buy outs and other gimmicks apply only to white collar / non union employees - those which involve a contract between employer and employee.

Sounds like this sale involves the union slugs' account - based on a contract between the employer and the union.

In the first instance the employer wins (happened to me) but, in the second instance, replacing "employer" with "investor" might be interesting.

[TNoldman]

PING PENSION BUYOUT

[Rockitz]

China must be pretty damned certain that the US government will bail the GM pensioners out. Unfortunately, they’re probably right so there’s almost zero risk for them.