PBGC rejects mediation with Delphi salaried retirees

Thomas Gnau | Dayton Daily News | 2012-09-26

Attorneys for the Pension Benefit Guaranty Corp. [PBGC] Wednesday evening rejected the suggestion of non-binding mediation with Delphi salaried retirees who have been suing to have their full pensions restored.  The rejection came after six weeks of discussions, said Chuck Cunningham, legal liaison for the Delphi Salaried Retirees Association.  Read full Dayton Daily News article

Obama sells auto bailout in key state of Ohio - no mention of Delphi retirees

David Jackson | USA TODAY  COLUMBUS, Ohio -- As far as President Obama is concerned, Ohio is the car capital of the world -- the political car capital ~ , anyway. ~ Obama has been driving the auto bailout issue hard in this vital state that in many ways holds the key to his re-election ~ "we reinvented a dying auto industry that's back on the top of the world."  [But] Rep. Mike Turner, R-Ohio, noted that up to 20,000 non-union employees at the Delphi Corp., a major GM parts supplier, lost most of their pensions under terms of the bailout. ~ "People believe it cost the taxpayers billions of dollars," said Turner, whose district includes Dayton. "The administration picked winners and losers."  Read more: USA TODAY article

Delphi retirees gaining ground in fight to restore pensions

Dayton Daily News | Thomas Gnau | 2012-09-23

Many of the nation’s 20,000 Delphi salaried retirees believe they are gaining ground in their three-year fight to have their full pensions restored. Many believe the struggle will soon pay off, their leaders and supporters say. ~ The non-union retirees have always had friends. But these days, that list of friends is longer, and the attention they receive is greater. ~ “There definitely has been a turning point,” said Washington Twp. [OH] resident Tom Rose, who spent 30 years working for General Motors and nine years working for Delphi, the parts-producing company GM spun off in 1999. ~ “It’s been an accumulation,” said Thomas Green, former manager of what was once Delphi’s Needmore Road [Dayton OH] brakes plant.  Read full article

Obama's 'You're On Your Own' Policy For Delphi Retirees

09/14/2012 07:06 PM ET   Cronyism: The White House is stonewalling three Congressional committees seeking to find out why GM bailout cash topped pensions of union workers while nonunion Delphi workers got stiffed. What are they hiding? ~ As the bailout was hashed out, Delphi workers got their pensions cut as much as 70%, while the United Auto Workers and other unions were made whole. ~ How did this happen? None other than through White House and Treasury Department intervention. ~ Obama administration officials apparently muscled in on the work of the Pension Benefit Guaranty Corporation (PBGC) — an independent pension agency for bankrupt companies that by law is not permitted to play favorites — and played favorites. ~ three separate House committees all have found sufficient grounds for launching investigations into what they call the "closed door deals" around this Delphi deal. ~ The Obama administration is treating these committees with the same contempt it treats all congressional investigations ~ That's the truth that should see daylight, without another cover-up.  Investors.com full article