Quote:
Originally Posted by PsyDoc
Remember though, GM is paying health costs of its retirees. The latest budget I heard this morning was that the big three now want $50 billion and 50% of that will go directly to covering retiree benefits. At some point, regardless of how much "leaner" the big three get, the costs of providing for retirees will become overly burdensome.
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Unfortunately this was ultimately GM's biggest mistake even though it was great for all the former employees whom retired under the old very generous system. Let's pray things get better and they can come out of their current situation.