Many economists view underfunded pensions as one of the biggest threats to the nation's fiscal health. Two votes in California Tuesday show how public sentiment is leaning toward cutting costs, even if it means taking away promised benefits.
Chad Parks is on a six-week cross-country road trip to shoot a documentary about Americans' soured retirement dreams. And if there are any solutions to the looming crisis, he hopes his crew and their vintage VW Vanagon will find them.
Ford earnings are expected to be weaker next year due to higher costs for pensions and materials, according to a research note released Wednesday by Credit Suisse Securities. Forecasts call for pretax income from Ford's North America operations to fall to $4.2 billion in 2011 from $4.8 billion this year.