GM Shareholders OK Pension Plan: The provision...
From Times Staff and Wire Reports
GM Shareholders OK Pension Plan: The provision to boost executive pensions nearly doubles the annual retirement pay of outgoing Chairman Roger B. Smith to about $1.1 million. Pensions for executives versus hourly workers will likely be a hot topic when negotiations between GM and the United Auto Workers union open in July, just a few weeks before Smith retires July 31. Also at the four-hour annual meeting, Smith said GM would begin building cars in an East German joint venture in October, becoming the first U.S. auto maker to make vehicles in Eastern Europe.
