[adios]

You should read up on Chapter 11 in the bankruptcy code. Just do a Google search. I find it ironic that when disputes are settled by a court of law, if the outcome doesn't jibe with what someone believes it should be the system is rigged and when it does the system is fine. Also when a "safety net" is provided making it possible to "game' the system, the system is corrupt when an entity that takes advantage is one that someone is pre-disposed to be against while if an entity that someone is pre-disposed to support games the system that's just fine.

Sooooooooooooooooooooooooo typical.

Do a google search the safety net that the U.S. provides for corporate pensions. Also there is a good article in yesterdays WSJ about the problems France is having with pensions that they've guaranteed. I want to post something on it because the benefits provided are quite lucratitive and it's a good example of the European welfare state in action. The pros and cons of the welfare state are worth discussing IMO. I think it's fair to say that there's a significant portion of the U.S. that would be very negative on what has evolved in the particular instance written about. However, in light of some of nicky's comments about violent crime vs. the welfare state and some factors such as people losing some of their pension benefits perhaps people shouldn't be so negative. I am but heh. Also I'd point out that IMO GM will spin off it's GMAC unit to shareholders and leave the car manufactuing part of the business as a separate entity. When this happens IMO GM will file a chapter 11 and seek to get it's pension liabilities reduced.