Hope and Change...
Posted on 05/05/2009 7:17:24 AM PDT by Oldeconomybuyer
Retirees from both General Motors Corp. and Chrysler LLC have created organizations to protect their interests as their former employers are forced to reorganize in and out of bankruptcy court.
“For decades, GM retirees assumed their hard work would allow them to earn a secure retirement,” said John Christie, a retired GM engineer and president of the General Motors Retiree Association (GMRA), which was organized in March.
“When the Obama Administration says that GM will need to clear away old liabilities to survive, we’re afraid that we are the old liabilities,” Christie said.
(Excerpt) Read more at theoaklandpress.com ...
Hope and Change...
The rank and file of the UAW could have been persuaded to vote GOP if we had really tried. What is good for the economy would have been good for GM and Chrysler. The UAW could have settled on easy terms for the automakers.
Instead..they always go for an All or Nothing strategy and go down in flames.
As I tell my Rat friends..you voted for him..so enjoy.
Then you shouldn't have voted for Obama
Actions have consequences
The UAW can keep the change. You voted for him; enjoy your retirement, suckas.
They were hustled during the election. The big con. The grift. They should feel dirty as they perform the walk of shame for laying down with him.
“Hard work...” You call featherbedding hard work?
Easy terms? Sorry, the costs associated with retiree benefits are substantial. So substantial, that they are the difference between profit and loss - note that non-union automakers in the US have been profitable until recently. The bad news is that the UAW got itself a gold-plated deal with the help of the politicos is bought, BUT the business doesn’t earn enough to pay. Now the taxpayers are going to be on the hook. They shouldn’t be. My retirement plans shouldn’t be ruined by the corrupt deal the UAW made.
HA...they’re the HUSTLERS....they have loved the “hustling” for 50 years.....payback is a b*tch
These retirees of any bankruptcy should get no more no less than any other business owed money.
Whatever happened to Erisa, which was supposed to make sure all retirement benefits were paid up to date ??
“As I tell my Rat friends..you voted for him..so enjoy.”
I feel the same way. The idiots who voted for Hussein are becoming duly concerned about what is happening to the country. Because of them, we’ve all been HAD.
I think that's part of the problem here. ERISA should apply to GM, Chrysler, et al, for non-union personnel, but the retirees don't want to be subject to the ERISA caps on retirement pay.
I think a sensible alternative to billions in taxpayer loans(handouts that will never be repaid) would have been to extent ERISA to all effected employees, union or not, and to put them all on Medicare. That would have been less expensive to the taxpayers who wind up footing the bill anyway.
Let’s see - the retirees will be ‘reduced’ to Medicare. They will still get the same medical support that many of us are getting, or is there something about their former plans that denies them those benefits. I am really puzzled. I can understand the loss for those of working age, but genuine retirees - give me a break, I am unable to sympathize.
UAW - The article isn’t even about the UAW, you wouldn’t know that from reading some of the comments.
When GM goes into Bankruptcy next month, -— the Retirees should be held responcible for paying back every penny they borrowed from the US Taxpayers.
After all , —————they voted for Hussen Obama so they should pay back every red cent.
Then, —— they would learn what it is to be accountable for your actions!
I am going to throw a party when GM files for Bankruptcy!
It couldn’t happen to a more deserving group of people!
Solution:
Expect nothing from no one.
The problem is that many of these retirees never saved a nickle and expect the tax payers to keep them in their gold standard of living because they were ridiculously overpaid for a few decades of clock punching at Chrysler.
Why should GM retirees be any different than military veterans?
Actually not. The employer and employee signed a contract, one just a legally binding as any other.
Whether it was responsible or not is another matter.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.