The Cadillac Allante Lounge Discussion, DSRA vs. PBGC and the U.S. Government in Cadillac Allante Forum; The DSRA had a favorable ruling in the Detroit Courts yesterday. Over a year ago that Tax Time Treasury Secretary ...
The DSRA had a favorable ruling in the Detroit Courts yesterday. Over a year ago that Tax Time Treasury Secretary Tim Gaithner and his henchmen went into closed door meetings, deals were cut and the whole Delphi (former General Motors Divisions) and GM bankruptcy were handled with record swiftness. Government (Obama administration) refuses to share the minutes of the meetings even though asked to do so by the legislative and judicial systems.
Average Delphi Salaried employee (hourly were made whole by GM) can expect a hit of about $300,000 to their pension proceeds over our lifetime. (There goes my toy Allante money among other things). In my mind, I'm sure that the government thought that the 15,000 salaried retirees would complain and then just fade away into the sunset.
I am excited to see the organization and efforts of this association. Horribly disappointed in the numbers of us 15,000 folks who are making monthly contributions to the legal expenses as this effort is horribly expensive as you might imagine. We are fighting the government and their pockets are deeper than ours. The efforts we are making just may impact many of you in tthe future.
Google DSRA fo the link if you care to follow the procedings. You as well as I may have in interest in the outcome.
What division did you retire from? My father retired from New Departure Hyatt Bearings in Sandusky, OH in 1977. The division went to Delphi, but I don't think his retirement ever did. He did get a bunch of (eventually worthless) Delphi stock.
My new ride is a beautiful decoration in my garage on the battery tender. I'm still waiting for the title to arrive. I had some words with the dealership yesterday. If I don't get the title next week I will seek legal counsel, as I bought the car on Feb 1.