Sunday, 17 July 2011

GM: A retirement plan with a car factory

"When you buy GM stock, are you buying a car company that happens to have a retirement plan, or are you buying an insurance company that just happens to make cars?"

The observation pre-dates the bailout and seems to have originated in this article:  "Enterprise Risk Management" 2005.  The pension plan was the focus of the bailout, not the health of the industry, in my view.

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