Pension watchdog says Nummi plan underfunded
The federal agency that protects pensions says New United Motor Manufacturing Inc. is liable for $292 million in benefit payments but has just $161 million in assets, and it wants Toyota Corp. to help make up the difference.
Nummi was founded in 1984 as a partnership between Toyota Corp. and General Motors, but last summer GM quit the partnership and turned its interest in the Fremont plant over to Motors Liquidation Co., the bankrupt remnant of the old GM.
*I was talking to a customer in Kentucky the other day, and he said they were already loading up the robots from the Toyota plant and shipping them back to Georgia.
