It did not work for all of the retirees, who where dumped as a resultof what happened... GM never intended to do that... until this Govexecutive team came up... I wonder what actually happened.
Gera, correct me if I'm wrong, but GM retirement plan was not quite sustainable with GM paying the whole pension plus benefits. No company does that nowdays -- there are 401K plans for that. And it would have gone under unless that were changed. And GM's Union would have been very instrumental in pulling the company under. So it's good that it did not.