PENSION DUMPING - Hardcover

Hawthorne, Fran

Hardcover

ISBN 10: 1576602397 ISBN 13: 9781576602393

Verlag: Kogan Page, 2008

Inhaltsangabe

a detailed examination of the practice of ending pension plans ( pension dumping) - why firms consider it an option, the benefits and disadvantages for the employees, and the investment opportunities for those buying the debt of distressed companies.

Über diesen Titel

Reseña del editor:

Pension plans in America no longer represent commitments that financially troubled companies will honor. Neither bankruptcy courts, nor Washington, nor unions have the clout to make them do so. The disposition of these plans is instead left to serve the needs of big investors. Often these investors are a failing company's best hope of restructuring after bankruptcy. Investors want a lean investment unburdened with financial promises to employees no longer on the payroll. Despite laws passed to discourage the termination of plans, the courts allow it, caving in to the forces garnered to reinvigorate a failing company. Unions are often compelled to choose between the financial welfare of retirees and jobs for active workers.
"
""Pension Dumping "explains in shocking detail" "how terminating the pension plan became a knee-jerk strategy for bankrupt companies that hope to attract big investors to help them reorganize.
Hawthorne" "traces the dynamics and the players involved as a pension is targeted for termination:

• the" "bankruptcy court and the hierarchy of power that dictates whose interests will prevail
• the choices forced on unions
• the burden placed on the Pension Benefit Guaranty Corporation
• the risks investors take and the returns they look for
• the companies' efforts to salvage what they can as they restructure, as well as the backlash they risk by breaking pension promises

Biografía del autor:

Fran Hawthorne has been covering the pension industry for more than twenty years, mainly as a senior editor and senior writer atFortune and Institutional Investor magazines. She analyzed the first version of pension-dumping scams in a December 1983 cover story forInstitutional Investor.

Hawthorne is the author of Inside the FDA: The Business and Politics Behind the Drugs We Take and the Food We Eat (Wiley, 2005) andThe Merck Druggernaut: The Inside Story of a Pharmaceutical Giant (Wiley, 2003). Her articles on a range of financial and other topics appear regularly inThe New York Times, Worth, Self, Newsday, Crain’s New York Business, and other publications.

Visit Fran Hawthorne's Pension Dumping blog.

Über diese Auflage

• Verlag: Kogan Page
• Erscheinungsdatum: 2008
• ISBN 10: 1576602397
• ISBN 13: 9781576602393
• Einband: Tapa dura
• Auflage: 1
• Anzahl der Seiten: 288