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Life After Brown
UPS pension fund falls short, gets ‘yellow’ flag
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<blockquote data-quote="klein" data-source="post: 702172" data-attributes="member: 23950"><p>By Rachel Tobin Ramos </p><p></p><p>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.</p><p>Then the recession hit, hammering the fund. Recently, the company found itself dealing with concerns about its riskier debt strategy.</p><p>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.</p></blockquote><p></p>
[QUOTE="klein, post: 702172, member: 23950"] 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. [/QUOTE]
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UPS pension fund falls short, gets ‘yellow’ flag
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