9-18-10: National Review tells our story like it is!

UAW Bailout: White House Kneecapped White-collar Pensioners

By Henry Payne  9/17/2010 

Constructing their UAW bailout a year ago, the White House Auto Task Force ran roughshod — Chicago-style — over secured bondholders’ rights in order to secure a deal for Big Labor. Less well known is that secretaries, engineers, designers, and other salaried men and women were getting kneecapped, as well.

The gutting of white-collar worker pensions at Delphi, GM’s biggest parts supplier, is a teachable moment about UAW power and Obama administration callousness.

As the administration rushed to complete GM’s bankruptcy last May, the question of Delphi was a pressing issue. Spun off by GM in 1999, Delphi was still intimately bound to its former parent through supply chains and union contracts. But when it came time to resolve Delphi pensioners, Delphi’s salaried workers were thrown overboard even as the UAW’s pensions were made whole.    More.........