Word: pensioned
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Dates: during 2000-2009
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...dragging their feet and pushing GM closer to bankruptcy. On the one side is a group that wants its money back and on the other are the people who worked on the assembly line for decades and don't want to spend their golden years without healthcare or a pension...
...unlike those being faced by GM. The largest retailers have two advantages over car companies. For the most part, they do not have crushing debt loads. Secondly, they do not have the legacy labor costs that are a result of UAW negotiations with The Big Three, although some have pension plans that are not completely funded...
...same-store sales loss of 30% last month. The company has $3 billion in long term debt and had paper thin operating margins on $1 billion in revenue last quarter, which was down from over $1.3 billion in the same period the year before. Neiman Marcus also has substantial pension obligations...
...Last week, New York City said that it would have to cut thousands of municipal workers to keep the city from going bust. "We cannot continue," NYC mayor Michael Bloomberg told reporters. "Our pension costs and health care costs for our employees are going to bankrupt this city," he said...
...course, Wagoner’s “retirement” was a delicately orchestrated affair. Few people, after a career of executive perks, can complain about a pension from a company that is currently operating on taxpayer funds. A deal like this does not exactly send the message to other executives that they will be penalized for failure...