GM will be back to the Gov’t wanting money before long.
when that happens, it must be forced to reform itself, and can not be allowed to survive in its present Gov’t-zombie form.
So if these guys can win thier suit, will they get paid by the “obama cronies” who were paid off in the GM takeover-bailout deal? No, more likely it will come out of my hide and that of other taxpayers.
Kinda makes you wonder how many of those Delphi workers voted for the bama boy. My bet would be plenty of them. Now thay knoe the error of their ways, they would probably vote for him again.
Some people never learn.
Well Duh....don’t people get that this was the whole point of the “stimulus”?...for Obama admin can gain control of a large amount of taxpayer money under the guise of a recovery plan. Since he and his administration are the handlers of this money, of course its going to be used to reward “his” people...unions, minorities, other groups connected to him. And those groups who had the audacity to vote for McCain get the shaft. This is textbook Obama.
some animals is more equal than other animals
I hope this lawsuit is big success. Thanks for the post.
The National Legal and Policy Center link does not work for me. Are you sure this is correct? And the other link is from Dec 2009.
The first “RAT” judge they encounter will throw thier case(s) out.
The GM salaried employee pension WAS NOT taken over by the PBGC.
If anyone has proof to the contrary, please post it or send me a pm.
It has never been clear what was the authority by which the White House and the Auto Task Force decided who got what. Who decided the bond holders would be treated like common stock holders and get nothing. Who decided, and under what authority were union retirements supported and fully funded from asests and taxpayers money, and non-union retirement funds taken and the “owners” of those funds (which almost were fully funded acording to this article) deprived of their assets? Somebody moved the money around and somebody gave the ordes to do so. If this was not authorized by a law or by an impartial court-like entity then how was it done. Who is accountable?
Delphi was "Inland Fisher Guide", a Division of GM that was spun off, interiors and so much more....
It was spun off in the mid 90's to ipso-facto downsize GM, make Delphi a potential supplier for other manufacturers without to many conflicts of interest i.e. they had the patent on the Minivan electric sliding door locking/interlock mechanism via the key-fob for example, it was easier to sell that product and do interiors on other cars while at the same time doing work for GM. I got to see it, it was weird to have one guy working on a competitors interior on one CAD tube right next to a guy working on the next gen GM interior right next to the 1st guy....
You are dealing with folks that essentially have the "GM Mentality" and probably believe they still deserve to be part of what GM "gets"....
The biggest travesty of the auto bail-out was that the government took taxpayer dollars and used them to save two failing companies at the expense of a non-failing competitor.
Ford took no money, and as a result some of their tax dollars were used to bail out their competitors. Where Ford should have reaped big rewards picking up the pieces of their bankrupt competition, instead our money was used to help those failing auto companies to compete against Ford.
Worse, the Obama administration actually put policies in place that favored the two failed companies in bids by the federal government, discriminating against Ford for being a successful company.