Deal shifts (some) GM pensions to Delphi; retirees fear its default

[Bozita]

Source: Detroit Free Press

Deal shifts GM pensions to Delphi; retirees fear its default
BY JEWEL GOPWANI • FREE PRESS BUSINESS WRITER • AUGUST 27, 2008

Rita Ertman, a salaried retiree from American Axle & Manufacturing, didn't expect Delphi Corp.'s bankruptcy case to touch her life.

Ertman, 61, of Birch Run, was a foreman at General Motors Corp. until 1994 when her plant in Three Rivers was sold to American Axle. At that time, Ertman recalls, both companies said they would share the cost of her pension. But when Ertman retired in 2003, she noticed something unusual.

The monthly checks she had expected to come from GM instead came from Delphi.

"I never worked for Delphi," Ertman said.

Read more: http://www.freep.com/apps/pbcs.dll/article?AID=/20080827/BUSINESS01/808270419

[whistle]

1. More rePUKE looting...it's the Bush Piracy not presidency

[Trillo]

2. Workers plucked by corporations again.

When is this looting going to be stopped by regulators? When the lobbyists leave the earth? When hell freezes?

Jerry 'Spartan' Brown goes after "thuggish" medical marijuana suppliers, but what is this so-called "legal" corporate expense accounting if it's not "thuggery"?

I guess if you do your robbery with a pencil or computer....