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Pension Dumping: The Reasons, The Wreckage, The Stakes For Wall Street

Pension Dumping: The Reasons, The Wreckage, The Stakes For Wall Street

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  • ISBN:9781576602393
  • Editorial: Bloomberg Press.
  • Fecha de la edición:
  • Encuadernación:Tapa dura
  • Dimensiones: 0 cm x 0 cm
  • Nº Pág.:288
  • Idiomas:Ingles

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Pension plans in America no longer represent commitments that financially troubled companies will honor. Neither bankruptcy courts, nor Washington, nor unions have the clout to make them do so. The disposition of these plans is instead left to serve the needs of big investors, who are often a failing company's best hope of restructuring after bankruptcy. They want a lean investment unburdened with financial promises to employees no longer on the payroll. Despite laws passed to discourage the termination of plans, the courts allow it, caving in to the forces garnered to reinvigorate a failing company. Unions are often compelled to choose between the financial welfare of retirees and jobs for active workers.
Pension Dumping explains in shocking detail how terminating the pension plan became a knee-jerk strategy for bankrupt companies that hope to attract big investors to help them reorganize.

The Reasons
Ch. 1 The Dispensable Pension Plan 3
Ch. 2 Last in line: The Retiree 13
Ch. 3 Pension-Free and Ready to Compete - Or Not? 23
Pt. 2 The Laws
Ch. 4 Writing the Rules 37
Ch. 5 Failure's Fallout: LTV and Other Precedents 51
Ch. 6 The Bankruptcy Court Minuet 61
Pt. 3 The Investors
Ch. 7 How Investors Play the Game 85
Ch. 8 The Signs of Failure 101
Ch. 9 Pensionless Restructuring 125
Ch. 10 The Emergence of US Airways 149
Ch. 11 The Reemergence of US Airways 157
Pt. 4 The Future
Ch. 12 The Problem Continues 171
Ch. 13 The Next to Fail 183
Ch. 14 The Politics 195
Notes

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