Obama's auto fairy tale

Henry Payne | Detroit News | The Michigan View | Fri, Sep 7, 2012

"Romney was willing to let Detroit go bankrupt," said Joe Biden ~ But what Biden didn't mention was that the Obama administration itself let Detroit go bankrupt. ~ The fact that Obama took GM and Chrysler into Chapter 363 bankruptcy as opposed to the Chapter 11 managed bankruptcy that Mitt Romney proposed - went largely unmentioned ~ As for Delphi, White House empathy for the middle class was not extended to middle-class Delphi white collar workers who lost between 30-70 percent of their pensions in the White House-led reorganization. ~ Biden's favorite campaign slogan should read: "GM is alive. Delphi pensions are dead." ~ it is clear that the Obama administration only saw the industry's troubles from the perspective of saving a Democratic special interest, the UAW.  Read full article

No talk of auto bailouts' ugly side

Dems cite success at convention without hint of cost, losers

Daniel Howes | September 6, 2012

Detroit's auto bailout is doing a star turn at this week's Democratic National Convention, a nut-and-bolts reminder that one of Barack Obama's first tough calls as president proved to be more right than wrong. ~ End of story, right? Wrong. ~ In moving to get GM through bankruptcy, the task force and its bosses at Treasury effectively shafted 22,000 salaried retirees of the former Delphi Corp. ~ The net effect: Many retirees saw their annual payouts cut by as much as two thirds, even as union members were "topped up" with taxpayer dollars from the Troubled Asset Relief Program; their former colleagues at GM saw comparatively minor cuts to their pensions; and key members of the auto task force still won't tell congressional investigators who made the call to treat Delphi's salaried retirees differently than everyone else.   Read full article

Hundreds rally for Delphi pensions

Thomas Gnau, Staff Writer | Dayton Daily News | Thu Sep 6 2012

Event hosted by Congressman Mike Turner - At least 300 salaried Delphi retirees from across Ohio and Indiana rallied in Dayton Thursday, seizing on what they see as new momentum in their three-year fight to have their full pensions restored. ~ With a federal lawsuit pending, congressional and legal probes underway and growing public awareness, retirees believe victory is within reach. ~ “We’re going to win this thing,” Washington Twp. resident Tom Rose told fellow retirees from the bed of a Ford pickup truck in the weed-littered parking lot of a empty former Delphi plant just east of South Upland Avenue.  Dayton Daily News | Photos from the rally | 2News-WDTN OH report | 2News-WDTN OH Video | WTIO OH video | Rep. Turner photos | Rep. Turner video | Daily Caller

Obama officials enriched former firms, possibly themselves with auto bailout

Daily Caller | Matthew Boyle | 2012-09-05 09:40

Emails obtained by The Daily Caller show that former senior Treasury Department officials who orchestrated the 2009 auto industry bailout enriched their former employers and likely made personal financial gains from parts of the deal they negotiated.  At issue is the termination of pension plans belonging to 20,000 non-union salaried retirees from Delphi Corporation. ~ Such self-dealing while an appointed member of a White House task force would violate federal law as well as an Ethics Pledge that an executive order from President Barack Obama said would apply to all appointees in the executive branch of the federal government from the date of his inauguration.  Full Daily Caller article