From Bloomberg– Video on GE Debt & Credit Lines–$41 Billion
GE Pensioners And Stockholders Contemplate The Unthinkable
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After the cost of insuring General Electric’s debt hit a six year high on Monday and the stock continued its precipitous decline, GE retirees began to ask about the unthinkable. I know this because I got more than a 100 responses to my last article on Forbes. What would happen to their pensions if GE went bankrupt? No one is saying that a bankruptcy filing is imminent, but with few signs of a turnaround at GE, it’s time to consider the worst case scenario. General Electric’s pension plan is insured by a government agency called the Pension Benefits Guaranty Corporation’s (PBGC) Single-Employer Plan. Here’s what the PBGC says you are guaranteed.