NYT: GM Cuts White-Collar Retiree Benefits

At the New York Times.

Normally I’d include a passage or a brief summary, but the title says it all really.  I wonder why they didn’t do this long ago?  Though conditions have certainly declined at an accelerated pace recently, GM has been hemorrhaging money for years (they have lost $70 billion since just 2004).

One has to admire the realistic and circumspect manner that some white-collar GM retirees effected by the cessation of benefits are responding to the news.

… and the cow goes moo