◼ Obama talks about the auto bailout frequently, since it's one of the few things in his record that gets positive responses in the polls. But he's probably wise to avoid probing questions, since the GM bailout is not at all the success he claims. - Michael Barone/Washington Examiner
..."GM is going from bad to worse," reads the headline on Automotive News Editor-in-Chief Keith Crain's analysis. That's certainly true of its stock price....
It's hard to avoid the conclusion that GM is bleeding money because of decisions made by a management eager to please its political masters -- and by the terms of the bankruptcy arranged by Obama car czars Ron Bloom and Steven Rattner.
Rattner himself admitted late last year, in a speech to the Detroit Economic Club, that "We should have asked the [United Auto Workers] to do a bit more. We did not ask any UAW member to take a cut in their pay." Nonunion employees of GM spin-off Delphi lost their pensions. UAW members didn't.
The UAW got its political payoff. And GM, according to Forbes writer Louis Woodhill, is headed to bankruptcy again.
Showing posts with label Delphi. Show all posts
Showing posts with label Delphi. Show all posts
Wednesday, August 22, 2012
Tuesday, August 7, 2012
Meet the Real Workers Obama Screwed Over
◼ President Obama's sleazy super-PAC, run by his former White House spokesman Bill Burton, just released an ad accusing GOP presidential candidate Mitt Romney of causing the cancer death of a steelworker's wife. - Michelle Malkin/Townhall
It's not just a slanderous and false attack. It's a foolish attempt to camouflage the administration's massive jobs death toll, politicized pension plundering and Big Labor bailout cronyism. And it will backfire big time because the thousands and thousands of true victims of Obama's economic wreckage are speaking up and fighting back....
While Team Obama promotes fables to indict Romney, the incontrovertible stories of the current administration's economic malpractice are finally getting out. In 2010, I first reported on how Obama's UAW bailout threw tens of thousands of nonunion autoworkers under the bus. It's the ongoing horror story of some 20,000 white-collar workers at Delphi, a leading auto parts company spun off from GM a decade ago.
As Washington rushed to nationalize the U.S. auto industry with $80 billion in taxpayer "rescue" funds and avoid contested court termination proceedings, the White House auto team and the Treasury Department schemed with Big Labor bosses to preserve UAW members' costly pension funds by shafting their nonunion counterparts.
◼ Jarrett ignores questions on terminated non-union Delphi pensions [VIDEO] - Matthew Boyle/Daily Caller
◼ Emails: Geithner, Treasury drove cutoff of non-union Delphi workers’ pensions - Matthew Boyle/Daily Caller
Emails obtained by The Daily Caller show that the U.S. Treasury Department, led by Timothy Geithner, was the driving force behind terminating the pensions of 20,000 salaried retirees at the Delphi auto parts manufacturing company.
The move, made in 2009 while the Obama administration implemented its auto bailout plan, appears to have been made solely because those retirees were not members of labor unions.
The internal government emails contradict sworn testimony, in federal court and before Congress, given by several Obama administration figures. They also indicate that the administration misled lawmakers and the courts about the sequence of events surrounding the termination of those non-union pensions, and that administration figures violated federal law.
It's not just a slanderous and false attack. It's a foolish attempt to camouflage the administration's massive jobs death toll, politicized pension plundering and Big Labor bailout cronyism. And it will backfire big time because the thousands and thousands of true victims of Obama's economic wreckage are speaking up and fighting back....
While Team Obama promotes fables to indict Romney, the incontrovertible stories of the current administration's economic malpractice are finally getting out. In 2010, I first reported on how Obama's UAW bailout threw tens of thousands of nonunion autoworkers under the bus. It's the ongoing horror story of some 20,000 white-collar workers at Delphi, a leading auto parts company spun off from GM a decade ago.
As Washington rushed to nationalize the U.S. auto industry with $80 billion in taxpayer "rescue" funds and avoid contested court termination proceedings, the White House auto team and the Treasury Department schemed with Big Labor bosses to preserve UAW members' costly pension funds by shafting their nonunion counterparts.
◼ Jarrett ignores questions on terminated non-union Delphi pensions [VIDEO] - Matthew Boyle/Daily Caller
◼ Emails: Geithner, Treasury drove cutoff of non-union Delphi workers’ pensions - Matthew Boyle/Daily Caller
Emails obtained by The Daily Caller show that the U.S. Treasury Department, led by Timothy Geithner, was the driving force behind terminating the pensions of 20,000 salaried retirees at the Delphi auto parts manufacturing company.
The move, made in 2009 while the Obama administration implemented its auto bailout plan, appears to have been made solely because those retirees were not members of labor unions.
The internal government emails contradict sworn testimony, in federal court and before Congress, given by several Obama administration figures. They also indicate that the administration misled lawmakers and the courts about the sequence of events surrounding the termination of those non-union pensions, and that administration figures violated federal law.
Subscribe to:
Posts (Atom)