one of the biggest financial problems GM is dealing with is their retired workers. its kind of like social security. there are now more retired workers drawing a pension than there are current workers. the only way i can see GM getting out of that hole is to re-negotiate the pensions, which aint gonna happen. add all the cut rate cars they've sold just to get them off the lots, their ongoing quality control issues and complete lack of style and i dont forsee a happy ending to GM's woes.
that article didnt give many details about the buyout. they are offering a severance package, but will the employees that take the offer be drawing a pension? if they are, then this is little more than a band-aid on an arterial bleed.
