CNBC mentioned this morning the PBGC has uncovered many pension shortfalls in the big corporations controlled by the rich, well beyond the well known problems in the airlines and auto's, and that this is not revealed in their SEC reports. It seems the rich CEO's have been underfunding the pensions of their workers and not reporting it. If so, with the current SOX legislation they are going to jail.
A very significant organizational change has just been announced at GE. Effective July 5, GE will reorganize into six industry-focused groups: GE Infrastructure; GE Industrial; GE Commercial Financial Services; NBC Universal; GE Healthcare; and GE Consumer Finance.
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