Government Report: GM Pressured to Favor Presidents Union Allies in Auto Bailout
Topics: General Motors, Delphi
Congressman John Boehner
September 12, 2013
Congressman Boehner (OH-08), Congressman Mike Turner (OH-10), and Republicans in Congress have been working for years to get to the bottom of the Obama administrations role in the decision to protect the pensions of the union employees during the 2009 auto bailout while non-union salaried retirees lost much or all of theirs.
Delphi salaried retirees, including hundreds in the Dayton area, saw their pensions cut by 30 to 70 percent during the auto bailout, says the Dayton Daily News. But while their pensions were getting cut, GM which once owned Delphi chose to bolster the pension payments of union-represented Delphi retirees
Why the different treatment for unions The House Oversight & Government Reform Committee examined that question in a hearing this week. The committee looked at a new report from the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Christy Romero. According to the Dayton Daily News, the report says:
General Motors leaders felt pressured to make whole the pensions of union-represented Delphi retirees as the federal government guided the automaker out of bankruptcy four years ago, an investigator told a U.S. House committee Wednesday.
|Connect with The Crittenden Automotive Library|