PLIGHT OF CARMAKERS COULD UPSET ALL PENSION PLANS.

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	PLIGHT OF CARMAKERS COULD UPSET ALL PENSION PLANS.

ellington

4-24-2009 9:25 PM

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pensions

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4-25-2009 2:26 AM

chestnut501

I would say that the plight of America could upset all of our plans

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e4e9b37f-d3a2-4b42-bcef-19b274c3c7ff/61DA5981-0EBC-4F5F-A9A7-44DE4A093145/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2009/04/24/business/24pensions.html?em#" href="http://www.nytimes.com/2009/04/24/business/24pensions.html?em#" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/04/24/business/24pensions.html?em#"><NYT_HEADLINE type=" " version="1.0">
Plight of Carmakers Could Upset All Pension Plans
</NYT_HEADLINE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/04/24/business/24pensions.html?em#"><div align="center"><img src="http://content9.clipmarks.com/blog_cache/www.nytimes.com/img/9D0BA9A8-B93F-4080-B72A-EC0A884D2646" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/04/24/business/24pensions.html?em#"><P class="caption">
A G.M. plant in Kansas City, Kan. A government takeover of an industry’s retiree obligations could imperil the tradition of company pensions. 
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/04/24/business/24pensions.html?em#"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/www.nytimes.com/img/60A10E5A-2654-42B6-84F0-7D6702916544" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/04/24/business/24pensions.html?em#"><P class="caption">
Ron Bloom, a member of the Obama auto task force, which is trying to help the automakers survive the financial crisis. 
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/04/24/business/24pensions.html?em#"><P>Decisions that the government <A title="Related Times article on G.M. and Chrysler." href="http://www.nytimes.com/2009/03/31/business/31auto.html?_r=1&scp=1&sq=president%20lifeline&st=cse">will make soon</A> on the future of <A title="More information about General Motors Corp" href="http://topics.nytimes.com/top/news/business/companies/general_motors_corporation/index.html?inline=nyt-org">General Motors</A> and <A title="More articles about Chrysler LLC." href="http://topics.nytimes.com/top/news/business/companies/chrysler_llc/index.html?inline=nyt-org">Chrysler</A> could accelerate the decline of traditional pension plans, which have sheltered generations of workers from an impoverished old age. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/04/24/business/24pensions.html?em#"><P>Pension experts predict that a government takeover of the two giant plans would spur other auto companies and all types of manufacturers to abandon such benefits for competitive reasons. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/04/24/business/24pensions.html?em#">For hundreds of thousands of retired auto workers, a federal pension takeover would mean sharply reduced benefits. For the federal agency that insures pensions, it would mean a logistical nightmare in the short term — and most likely a slow demise eventually</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/04/24/business/24pensions.html?em#">as fewer and fewer </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2009/04/24/business/24pensions.html?em#">small </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/61DA5981-0EBC-4F5F-A9A7-44DE4A093145/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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