Poobah Posted July 6, 2005 Report Share Posted July 6, 2005 GM wins pension case against U.S. NEW YORK (Reuters) - A federal court has ruled in favor of General Motors Corp. in its bid to recover as much as $253 million from the federal government for one of its underfunded pension plans, the Wall Street Journal reported on Wednesday. The decision, by Judge Nancy Firestone of the U.S. Court of Federal Claims, is the first of its kind and may trigger moves by other government contractors to try to recoup some of the underfunding of pension funds that existed when the contractors closed or sold divisions, the newspaper said. The paper said the U.S. government is likely to appeal the decision and any potential recovery could take years. A spokesman for GM said it wouldn't be appropriate to comment until the matter has been fully resolved, the Journal said Happiness is owning a Cadillac with no codes. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.