Geithner

http://www.e-socrates.org/mod/forum/discuss.php?d=674
In a letter on behalf of the Delphi SalariefRetiree Association, 22 congressional representatives are asking Geithnere to direct the federal auto task force to make publifc all documents concerning a proposal to default the pensions to the federal Legislatorsw expressed concern over the “inequitable decision” to defaul t the white collar retirees’ pensiobn plan to the federal while at the same time the pensiobn obligations of hourly workers are beintg picked up by , Delphi’s former American taxpayers will own 60 percentg of the new GM and “they deserve a full and public explanatiojn of how this inequitable decisionb was made,” the lettefr said.
The bipartisan group citedc estimates thatthe 15,000 Delphi salaried employees coul lose as much as 70 percent of their pensionb payments if they are assigned to the Pensiojn Benefit Guaranty Corp. Troy, Mich,-based Delphi, GM’e largest supplier, filed for Chaptetr 11 bankruptcy protection inOctobet 2005. Fallout from the company’s financial troubles included the closure of a plan ton Columbus’ west side, which employed more than 400 at the time it