House panel to hold hearings on Delphi pensions

David Shepardson/ Detroit News Washington Bureau  6/17/2011 1:00 AM

A U.S. House panel will hold a hearing Wednesday on the $49.5 billion bailout of General Motors Co., including its role in paying to make up pension losses for some union retirees at Delphi, its former parts unit.

The hearing, the first on GM's bailout in at least 18 months, will be held by the House Oversight Committee's subcommittee on regulatory affairs, stimulus oversight and government spending.

Click here for the Detroit News article.

More information will be provided to DSRA members by email later today.

Collateral damage tarnishes auto bailouts

Daniel Howes, Detroit News, remembers Delphi Salaried Retirees again……….

….. that the federal government used taxpayer dollars to favor one class of people (dues-paying UAW members and retirees) over another (salaried retirees of Delphi Corp.), and that the feds insisted subordinate UAW claims should be accorded higher priority in bankruptcy than secured bondholders……

Thank you Mr. Howes.   Click here for the Detroit News article