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Reps go to bat for Delphi retirees
TweetBy Grace wyler
Delphi Corp. salaried retirees have gained political momentum in their fight to recover the pension and health-care benefits awarded to hourly retirees.
Republican representatives from two congressional committees have demanded the Treasury Department and General Motors release all documents regarding the restructuring of the Delphi pension packages.
Republican members of the Committee on Education and Labor sent a letter this week asking committee chairman George Miller, D-Calif., to subpoena all documents “related to the disparate treatment of Delphi workers’ pension benefits.”
The letter asks for the subpoena of all communications between the Auto Task Force, the Treasury, the White House, GM, Delphi Corp., the Pension Benefit Guaranty Corporation and United Auto Workers.
The documents may help the committee determine how key decisions were made regarding the Delphi pension plans.
Delphi retirees saw their pensions cut by 30 percent to 70 percent when their plans were turned over to the PBGC last year. GM agreed to restore pension benefits for hourly workers but not salaried workers.
The Subcommittee on Health, Employment, Labor and Pensions requested the documents from the Treasury Department in December but was unsuccessful.
Bruce Gump, a member of the Delphi Salaried Retirees Association, said he hopes the new efforts will force the administration to be more forthcoming about the role it played in the Delphi pension restructuring.
“The issue here is that the Obama administration — which promised to be the most transparent administration — has refused to give up the documents,” Gump said. “We want those documents because they show that the government purposely discriminated against certain groups in favor of more politically colorful, influential groups.”
Republican members of the House Committee on Oversight and Government Reform also sent a letter to GM’s chief executive, Ed Whitacre, on Wednesday, requesting all communications between the company and the federal government regarding retirement benefits for GM and Delphi Corp.
Sherrie Childers Arb, a spokeswoman for GM, declined to comment on the request.
Comments
This has hurt our community, and will for the next 30 years just like what happened to the Steelworkers. I hope they succeed, for our benefit as well as theirs. I wonder where Jim Graham and Dave Green are on this? These guys aren't trying to take anything away from the unions, they just want what they earned. Didn't Gettelfinger say something about this? Something like "nobody should sit silently by and say nothing" or something like that? How come the UAW that got all those TARP funds are being so quiet about what happened to the Delphi Hourly and Salaried Retirees?
Jim Graham and Dave Green are being silent in this matter because they have to uphold the typical UAW stance, "As long as it doesn't affect us, who cares about anyone else." Shame on THEM when we don't buy their Cobalts! What goes around, comes around.
Lets see, maybe most of the salaried employees didn't vote for Obowser. No, I must be wrong, that wouldn't have any effect on his decision, and yes, he did have the final say!!!
redvert.....The restructuring of a company is spelled out in bankruptcy law. The bankruptcy was years before Obama was elected as the President of the United States of America. When that company went bankrupt Bush was President.
You claim Obama had the final say. Can you provide something to show where it was up to Obama if these people got their full pensions and benefits he said no?
We both know that all Obowser had to say is "take some of the money we are giving to GM and correct the Delphi salaried pension fund issue also" and it would be done.
Here is our boy Ryan stating that the Salaried retires got a raw deal since their pension funds were not topped off and the hourly pension funds were. He stated that he talked to Obowser about it. If only Obowser had some pull with GM!!!
You can try to twist it any way you want but the bottom line is that Government Motors answers to Obowser and we all know it.
http://www.youtube.com/watch?v=kxiwj1...
Hey Cambridge - obviously you are blind and must have voted for Obammy. Yes, Delphi filed bankruptcy under Bush, so what! Do you not remember GM was forced into bankruptcy by the Obammy's government last spring. The government owns GM. I believe the bond holders were ignored and the union given stock in GM. So since GM and Delphi are
joined at the hip, the U.S. Treasury Tim Turbo Tax Geithner, Ron Bloom and others in Obammy's administration decided the fate of Delphi hourly and salary retirees in GM's exit from bankruptcy.
Read the new contract. But keep in mind, when a bankruptcy is filed, all contracts are voided. The Delphi unions claim they had an agreement with GM at the time of the spin-off in 1999, that if anything happened, GM would provide protection to the union members.
Well, that agreement was voided by law (or should have been). But Obammy and his buddies picked winners and losers here. They gave GM, my tax money to help them emerge from bankruptcy and let them top off the hourly retirees pensions but screwed the salary retirees. As the article says, many lost a huge percent of their
promised pension. And the hourly retiree pensions remain whole. POTUS has stepped over the line and will be a one term president.
I have voted democrat but NEVER again!
redvert....great video. Believe me I'd be happy to see these people get what they want but to blame Obama for the situation is ridiculous.
Even if he could step in and just say to ignore bankruptcy laws, where would that end?
If he did that for every employee of every company that has gone bankrupt you would be complaining about him giving handouts and redistributing the wealth.
I am glad we agree on the bottom line. What I do not understand is how the hourly pension fund was topped off and the salaried was not. You mention the handouts, well guess what, it looks like they have selectively begun at this point with Delphi. Just my opinion!
I understand that going forward there will be an should be a lot of changes in retirement plans such as more well managed 401's instead of the conventional pensions but whether I am pro union or pro salaried I think all these people worked the better part of their lives and deserve what they were promised. I know that there were times when I thought that a conventional pension would of been nice but I sure am glad I had the 401.
I bet that a lot of retirees and near retirees that are depending on a pension as the main source of income in their later years are nervous. I certainly do not envy people in the middle of their working careers!
redvert....As I understand it the hourly employees had a deal with GM long before Obama was President and the salary employees did not.
Also as i understand it the deal GM had with the hourly workers was honored before Obama was President and whatever the obligations GM had with the salary employees was also kept.
I have to say again, the blame is misdirected if it's put on Obama and the people that put it on him have a different agenda.