Here we go, they pay a pension to three retirees for every current employee:
"In 1962, GM had 464,000 US employees and was paying benefits to 40,000 retirees and their spouses, for a dependency ratio of one pensioner to 11.6 employees. Last year, it had a 141,000 workers and paid benefits to 453,000 retirees, for a dependency ratio of 3.2 to 1."
http://www.businessspectator.com.au/bs.nsf/Article/WEEKEND-READ-GMs-pension-pain-LZ9KD?OpenDocument&src=sph
Crazy isn't it?
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