...When the Obama administration commandeered the bankruptcy process, it invited GM and UAW representatives to the negotiating table. But it left out Delphi’s salaried retirees. The upshot was that the UAW retirees got their full pension and health care benefits. But the benefits of 21,000 Delphi retirees – who had often worked right next to their UAW peers – were determined as per a Pension Benefit Guaranty Corporation (PBGC) formula. Hence, some of them lost up to 70 percent of their pensions and all of their life and health insurance. Bruce Gump, a representative of the Delphi Retirees Association, testified before Congress last year that the Treasury could have covered 93 percent of the benefits of all employees for the same amount that it spent on full union benefits.Delphi is a leading global supplier for the automotive, computing, communications, energy, and consumer accessories markets and a sponsor of NASCAR.
What all of this shows is that some workers are more equal than others in Obama Land.
Friday, March 09, 2012
DELPHI AND OBAMA LAND
As the daughter of a mechanic and the wife of a retired mechanic/automotive-parts worker, I have known about garage matters all my life. In fact, I recall seeing boxes with the label "Delphi" on them in my father's garage. Therefore, this story caught my eye: