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Bill would restore salaried Delphi retirees's pensions
Plastics News ^
| Theresa Cliff
Posted on 09/13/2012 11:28:45 AM PDT by mak5
An Ohio senator wants to give $1 billion from a General Motors stock sale to salaried Delphi Automotive retirees who lost much of their pension coverage during the suppliers bankruptcy proceedings, but the Delphi Salaried Retirees Association says it prefers another solution.
(Excerpt) Read more at plasticsnews.com ...
TOPICS: Politics/Elections; US: Michigan; US: Ohio
KEYWORDS: brown; gm; senator; sheerod
Leave it to Brown to vote to allow Obama to screw these employees and then propose more taxpayer money to pay them off.
posted on 09/13/2012 11:28:53 AM PDT
I have a better idea...let’s take the money from the pensions that were due to Obama and Biden and give them to the Delphi non-union workers. That’s called sharing the wealth...
posted on 09/13/2012 11:31:52 AM PDT
by Hotlanta Mike
(Resurrect the House Committee on Un-American Activities (HUAC)...before there is no America!)
Completely ignoring us GM bondholders who got robbed! The union should have to reimburse all of us as well as the Delphi pensioners.
posted on 09/13/2012 11:39:53 AM PDT
(That's short for Alabama, not Obama)
Translation, Brown is now even with Josh Mandel in the polls and needs those Delphi votes. So long as the truth wasn’t public, Brown didn’t care what happened to those pensions.
Isn’t Stabby Debby up for re-election too?
posted on 09/13/2012 11:40:28 AM PDT
by Wiser now
(Socialism does not eliminate poverty, it guarantees it.)
My husband was a Delphi salaried retiree. The pension fund was 85% funded, more than most pensions. Short story, it should not have been terminated to begin with. It was done out of spite, period.
To: Hotlanta Mike
“due to Obama and Biden”
Make it the entirety of Congress.
posted on 09/13/2012 11:55:35 AM PDT
by Psalm 144
(Where would Christianity be if the early believers put their hopes and trust in the Roman empire?)
To: Springman; cyclotic; netmilsmom; RatsDawg; PGalt; FreedomHammer; queenkathy; madison10; ...
What a mess.
posted on 09/13/2012 12:27:08 PM PDT
(What does it profit a man if he gains the whole world but loses his soul?)
And I’d like to have my GM stock made whole again too...
posted on 09/13/2012 1:02:52 PM PDT
The pension fund was 85% funded, more than most pensions. Short story, it should not have been terminated to begin with. It was done out of spite, period.
You're ABSOLUTELY right!
I have to ask you.
Were you paying attention to GM in 2007 and 2008?
There were a lot of folks predicting doom then.
Industry website TTAC even had a series titled “GM Death Watch”.
The Car Czar solution was clearly illegal, but holding GM stock or bonds was a huge risk with no upside.
posted on 09/13/2012 4:26:18 PM PDT
(Defeat Baraq 2012. Deport Baraq 2013)
Amen...... Take it from the money they stole and redistributed to the UAW.
In the olden days, such theft was a hangin’ offense. It still should be
posted on 09/13/2012 4:30:18 PM PDT
((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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