“As Workers’ Pensions Wither, Those for Executives Flourish; Companies Run Up Big IOUs, Mostly Obscured, to Grant Bosses a Lucrative Benefit; The Billion-Dollar Liability.” The June 23 Wall Street Journal headline tells the story: GM and other big corporations cut pensions for the rank-and-file–complaining all the while of “legacy costs”–while they pad executive packages.
Meanwhile, . . . → Read More: The Wedge