General Motors CEO Dan Akerson said the company may offer buyouts to United Autos Workers members before it negotiates a new contract in 2015.
According to an analyst, pension obligations for Ford at the end of 2011 totaled $74 billion, with $15.4 billion of that still being owed. To reduce that amount, Ford will be offering 98,000 current and former white-collar employees a lump-sum pension buyout. General Motors, whose $134 billion pension obligation was underfunded by $25.4 billion at the end of last year, will be doing the same with 42,000 of its salaried employees and its switching others to 401(k) plans. When Chrysler CEO Sergio
While deftly avoiding the General Motors buyout of Chrysler issue, GM Vice Chairman Bob Lutz did say that he can see one of Detroit's Big 3 dying off in the not-too-distant future. Citing increased market pressures and too much capacity, he said in Geneva that present trends lead to only one conclusion, that one of the domestic automakers will be squeezed out. It won't be GM, however. "Right now, we're in the best position," he said. "We're approaching the end of the beginning of the transformat