Friday, September 12, 2008

More Screwing of the Workers

Delphi, formerly part of GM, has not made its payments to its pension plan for the past three months. PBGC is dunning them for $900,000,000. Like many pension plans, this one was underfunded by a small amount, $3 billion. Delphi has been in bankruptcy for three years. Will their 85,000 workers get their pension?

Maybe they'll get it from the $50 billion loan the auto companies are asking us for.

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