ivyhofy.wordpress.com
If not stopped, retirees fear that the move coulds drastically cut the value ofyounger ex-white collard workers’ pensions by as much as 50 percent, said Jamed Frost of Clarence, N.Y., a board membe r and organizer of the Delphi Salaried Retiree The legal action is being spearheadeds by 100 to 200 retirees in Ohio who belongy to the 5,400-member associatiob but who are acting on theif own, Frost said. “(The DSRA is) serving as suppor t by gathering information and sharin it with all our members and by contacting legislators aroundfthe country,” Frost said.
“We are not starting our own action because it would duplicate what they are The opposition sprang out of the modified reorganizatio n plan Delphi disclosed onJune 1. The to emerge from Chapter 11 bankruptcy, said it wouldd cancel its pension obligations and have assum e thehourly workers’ pensions and the government take over the salariesd employees’ plan. Frost, who worked at GM for 25 year s and at Delphifor six, said hourlyt workers’ pensions won’t be affecte d “at least in the short term” but salariedc workers who retired at 55 could lose half the valude of theirs. “We want our pensionsa also to be transferredto GM,” he said.
The suit wouled charge Delphi, GM, the II and the U.S. Treasurg with collusion againstthe retirees. In the reorganizationb plan for Delphi, GM’s former parts II LLC — a unit of Platinum Equit y — would acquire and operatre Delphi’s U.S. and non-U.S. businesses by supplying $3.6 billionb in capital. Delphi was formed in 1999 when GM spun off its partzmanufacturing division. The Troy, Mich.,-based company, GM’s larges supplier, filed for Chapter 11 bankruptcy protection inOctoberf 2005.
ليست هناك تعليقات:
إرسال تعليق