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Non-Tech : General Electric (GE)
GE 307.27+0.7%Nov 7 9:30 AM EST
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To: Bonefish who wrote (2943)11/9/2018 11:02:17 AM
From: E_K_S1 Recommendation

Recommended By
Lance Bredvold

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I wonder if GE will do a planned structured BK to shed it's self from those pension liabilities. This is what GM did w/ their $100Bln obligation. Those pension obligation went to the PBGC ( Pension Benefit Guaranty Corporation)

The Pension Benefit Guaranty Corporation is an agency of the United States government that was created by the Employee Retirement Income Security Act of 1974 to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary to carry out its operations


This would essentially make GE common shares worthless. Same thing was done w/ PanAm when they went BK. I believe the GE pension obligation is around $34Bln.

EKS
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