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GM underfunded its pension program over the years which is why they are in this mess. They are also the victim of the lack of any sort of national health program.
It is likely that the retirees would get nothing if they go bankrupt but in ideal world, the company should be forced to liquidate to pay the retirees.
How are the non-US global manufacturers coping with legacy and retiree associated costs?
posted by 69.112.185...
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