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alstry (< 20)

200,000 Workers about to be Infected w/FU Virus???



April 19, 2009 – Comments (2)

From the WSJ(this does not count the millions of union retirees):

DETROIT -- Representatives of some 200,000 white collar retirees of the Big Three auto makers will meet with the Obama administration's auto task force later this week, a person familiar with the matter said.

The meeting is part of an effort by salaried retirees to press the case for preserving their retirement benefits amid the restructuring of Detroit. Unlike union workers and retirees, salaried retirees are often vulnerable in restructurings because their benefit packages are not governed by union contracts and companies often can change terms without consulting their former employees.

Representatives of salaried retirees from General Motors Corp., Chrysler LLC, Ford Motor Corp. and supplier Delphi Corp. have been pushing for weeks to get a meeting with the auto task force, which is overseeing the restructuring of GM and Chrysler.

At the meeting, they plan to outline the hardships retirees will suffer if GM and Chrysler are allowed to slash pensions, health care coverage and other retirement benefits.

The outcome of this bankruptcy/restructuring could have profound implications on our nation.

2 Comments – Post Your Own

#1) On April 19, 2009 at 3:45 PM, devoish (64.87) wrote:

If 200,000 white collar workers have the same representative, are they a union now? Are these "salaried retirees" executives? Could the benefits also be called "golden parachutes"?

Trickle up, baby, trickle up.


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#2) On April 26, 2009 at 2:35 PM, Entrepreneur58 (37.57) wrote:

Funny how you don't hear about the finance companies slashing benefits for their retired employees.  If I was a retired auto worker, I wouldn't let them slash my benefits if they didn't slash the benefits of the AIG retirees first.

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