A win for the away team

One important barrier to foreign investment in U.S. companies has been pension liability. A U.S. law -- the Employee Retirement Income Security Act of 1974, or Erisa -- automatically imposes pension liability on the 80% or greater owner of a U.S. company that has an underfunded pension plan when the plan terminates or the employer withdraws. The Pension Benefit Guaranty Corp. has said pension...