Delphi retirees press fight for full pensions

Dayton Daily News | Thomas Gnau | 2013-03-05

A trio of events may prove critical in the ongoing fight between Delphi salaried retirees and the government over the retirees’ pensions.

  • This month, attorneys for the retirees will question officials of the Pension Benefit Guaranty Corp., or PBGC, during depositions under oath. The retirees sued the PBGC in federal court more than three years ago after the agency agreed to take on the retirees’ pensions from a then-bankrupt Delphi in July 2009.
  • A report from the Office of the Special Inspector General for the Troubled Asset Relief Program (also called SIGTARP) in its own probe into the matter is expected to be released soon.
  • In February, U.S. Reps. Mike Turner, R-Dayton, and Tim Ryan, D-Niles, announced the creation of a congressional task force to unify several committee and sub-committee investigations into the federal government’s treatment of pensions of more than 20,000 retired Delphi managers and engineers.

Full Dayton Daily News story and video | Delphi Pensions Timeline

Delphi retirees say Obama administration betrayed them

Lisa Myers | Talesha Reynolds | NBC News | 2012-11-04

Delphi salaried retirees' stories retold by NBC News ~ “We were the group that was just kicked to the curb like yesterday’s trash” ~ two congressional committees and the Special Inspector General for the Troubled Asset Recovery Program (SIGTARP) are investigating the basis and motivation for this decision.  ~  “Inside our [retirees] organization we have lots of people that have seen their homes foreclosed,” “They’ve had to declare personal bankruptcy. There’s been some families that have broken up over the stress associated with this. There’s even been a couple suicides.”  The DSRA retirees are a politically diverse group – Republicans, Democrats and Independents – but regardless of political stripe, many of them believe the Obama administration betrayed them. ~ “what really happened was that this administration simply wanted to take care of their political base”  Read entire article… | NBCNews Video

Delphi retirees whose pensions were seized at the behest of Treasury. ~ Ask them how "rescued" they feel.

Truth about auto bailout skirted in both presidential campaigns

Daniel Howes | Detroit News | 2012-11-06

There are lots of legitimate ways to criticize Team Obama's execution of the auto bailouts, who they favored (union coffers and their members) and who they didn't (dealers, bondholders and Delphi Corp.'s salaried retirees).  ~  conveniently ignored in the campaign by the president, his Treasury Department and his proxies are myriad dirty little secrets of the bailouts.  ~  the Delphi retirees whose pensions were seized by the Pension Benefit Guaranty Corp. at the behest of Treasury.  ~  Ask them how "rescued" they feel.  Ask the Delphi retirees demanding to know who inside the administration decided to use public dollars to treat union and non-union retirees differently in bankruptcy.  Read more... Detroit News article

Non-union retirees: Bailout no big success

Tom Stafford, StaffWriter | Springfield (OH) News-Sun | 2012-11-02

Two Republican congressmen and three salaried former Delphi employees who lost substantial portions of their pensions and retirement benefits during the company’s bankruptcy appeared in Springfield (OH) on Friday to challenge the Obama campaign’s characterization of the auto industry bailout as an Ohio success story.  ~  Four days before the election day, U.S. Rep. Mike Turner, R-Dayton, called it the “untold story of the auto bailout” in which the administration “picked winners and losers” and manipulated and thwarted the normal bankruptcy process.  ~  The president “owes an answer” to 20,000 workers who lost their pension ~ and has refused to be transparent about the processRead more... Springfield News-Sun