Book review: While America Aged, How Pension Debts Ruined General Motors!
This morning NPR aired an interesting interview with the author of "While America Aged, How Pension Debts Ruined General Motors..."
The author explains how the big three (GM, Ford, Chrysler) could get away with heavy pension cost while there was no competing products. But since foreign automaker can offer cars that don’t carry the same pension burden, GM will have no other choice than bankruptcy if they want to get out of those bad deals.
Click here, then click on ’Listen now’ to listen to the interview.