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By Rachel Tobin Ramos
When Big Brown took on billions of dollars of debt in 2007 to buy some employees out of a union-run pension plan, it seemed like a good idea.
Then the recession hit, hammering the fund. Recently, the company found itself dealing with concerns about its riskier debt strategy.
UPS, long a conservative company that eschewed debt and risk, was given what would amount to a “yellow caution” flag by a credit rating agency in January. This was after the Sandy Springs-based company had a pension plan fall below the amount it would need to cover its obligations.
When Big Brown took on billions of dollars of debt in 2007 to buy some employees out of a union-run pension plan, it seemed like a good idea.
Then the recession hit, hammering the fund. Recently, the company found itself dealing with concerns about its riskier debt strategy.
UPS, long a conservative company that eschewed debt and risk, was given what would amount to a “yellow caution” flag by a credit rating agency in January. This was after the Sandy Springs-based company had a pension plan fall below the amount it would need to cover its obligations.