Daily Archives: June 8, 2009

John Gapper

Tony Jackson makes an interesting, and a bit scary, point about New General Motors, the part of the company that is supposed to spring out of Chapter 11 with its liabilities trimmed, ready to take on competitors in the auto industry.

Although New GM will have dealt with its healthcare liabilities, it will have the GM pension fund attached. He posits that this was because transferring it to the Pension Benefit Guarantee Corporation would have been too bitter a political pill. Read more