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One of the most overlooked problems with Ford and General Motors in recent history was their massively underfunded pension plans. Consider that at the end of 2012 Ford's global pension plan was ...
In 1961, the company changed its name to Automatic Data Processing, Inc. (ADP), and began using punched card machines, check printing machines, and mainframe computers. ADP went public in 1961 with 300 clients, 125 employees, and revenues of approximately US$400,000. [3] The company established a subsidiary in the United Kingdom in 1965.
General Motors Financial Company, Inc. is the financial services arm of General Motors.The company is a global provider of auto finance, with operations in the United States, Latin America, Canada, Europe (which was sold to PSA Groupe and BNP Paribas following the sale of GM's core area businesses Opel and Vauxhall in a $2.2 billion deal), and China.
By Jeff Karoub DETROIT -- General Motors Co. plans to freeze its U.S. pension plan for longtime white-collar workers and give all salaried employees annual bonuses but not pay raises in an effort ...
Types of retirement plans. Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.
General Motors said today it's taking a number of steps to reduce its debt and pension liabilities. The Detroit automaker said it will repay $2.8 billion it owes to the United Auto Workers retiree ...
The Lansing Grand River Assembly complex began construction in 1999 and began operations in 2001. It replaced the Lansing Car Assembly, Lansing Metal Center, and the Lansing Craft Center. On September 16, 2013, Lansing Grand River Assembly Plant had produced its 1 millionth Cadillac vehicle, a 2014 Cadillac CTS sedan with Red Obsession Tintcoat ...
Wages and benefits at the state and local government level also drove the overall increase, rising 1.3% in the first quarter from 1% in the fourth, while private-sector compensation growth rose by ...