Topic “Pilfered Pensions”
Will taxpayers be on the hook for corporate misconduct?
March 5, 2010
Another plant closing, another distressed pension plan abandoned by the private sector. As the Detroit Free Press recently reported, Toyota is shuttering a former joint-venture plant with GM in Fremont, Calif., leaving behind $131 million in unfunded pension liabilities and 5,800 United Auto Workers in the lurch.