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GM retirees react to increase in the size of IPOs 11/17/10

http://www.wxyz.com/dpp/news/region/macomb_county/gm-retirees-react-to-increase-in-the-size-of-ipos

By Brandon Truttling; WXYZ ~ Nov 17, 2010

 

Washington Township, Mich. (WXYZ) - Rick Knoth, a retiree with General Motors says news that GM will increase the size of its initial public offering means good possibilities for retirees.

 

Knoth says, "We still have to continue to get GM healthy because our retirement pension is predicated on success of GM for the longterm.''

 

Other retirees feel much the same.

 

John Christie says, "As a retiree it's very good news for us because the pension fund is linked to GM's success, if GM is successful, it'll put them in a position to contribute to our pension.''

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