Remember this when you go car shopping and......

[308pirate]

You're a salaried employee instead of a union hack

Retirees take last shot to save pensions after being rejected by courts

The retirement package for Delphi Corp. employees was slashed when General Motors went into bankruptcy in 2009. Some lost retirement savings and health coverage.

www.foxbusiness.com

Fuck GM and fuck Barak Obama

 

[Shoots 700's]

Screw them

 

[AllenOne1]

Haven't looked at a Government Motors vehicle since that 2009 bailout. I know other car companies have had issues as well but that was one of the worst I have seen. Ford didn't take that bailout and it shifted a lot of business to them at that time. Right now I'm all Toyota assembled in Texas or Mexico.

 

[NoDopes]

Isn't there a federal pension insurance for these instances? Or is that why they only.lost 30%?

 

[fpgt72]

I will never ever have a GM product in my garage.

Fiat saved Chrysler, Ford restructured their debt about a year before so was ok....it was ONLY GM.

Never again.

 

[Shoots 700's]

we are a ford and toyota family

 

[vinniedelpino]

20 years from now when you’re bitching about how your 401k is worthless I’ll be cherishing the memories of when Cinnamon and Lexi used to blow fat lines off of my Johnson at the Bellagio.

YOLO

 

[308pirate]

Haven't looked at a Government Motors vehicle since that 2009 bailout. I know other car companies have had issues as well but that was one of the worst I have seen. Ford didn't take that bailout and it shifted a lot of business to them at that time. Right now I'm all Toyota assembled in Texas or Mexico.

I have one Honda made in the US, one Honda made in Japan, and one Toyota made in Canada.

 

[FWoo45]

Grew up a Chevy guy, after 09, will never buy a new one. Still want an old K5 but shopping for a bronco instead. Work truck is a Chevy but I didn’t buy that and my next one will be a TRX (if I get my way).

 

[502Chevelle]

Did any of yall hear the pride month commercials for GM? Made me want to puke.

 

[MarshallDodge]

I feel bad for the guy because he put all his eggs in one basket without realizing what would happen. GM promised way too much to their employees and somehow should be held accountable.

I haven't owned a GM vehicle in about 20 years. Too many better options out there.

 

[MarshallDodge]

Did any of yall hear the pride month commercials for GM? Made me want to puke.

Ford does the same thing.

 

[sled_mack]

When Bethlehem Steel went under they found out the union had mismanaged the pension fund. It was basically a Ponzi scheme with union leaders skimming off the top. The federal insurance stepped in. My dad got a little less than 30% of what he was promised.

it was a learning experience for me - trust no one to help support my retirement plans. No company pension and definitely not the .gov.

 

[ForgeValley]

it was a learning experience for me - trust no one to help support my retirement plans. No company pension and definitely not the .gov.

That's solid life advice in general, beyond retirement plans.

 

[DarnYankeeUSMC]

Boo fucking hoo!!!
He was way overpaid for what he did and now the taxpayers should support his lifestyle. Fuck that

 

[308pirate]

Boo fucking hoo!!!
He was way overpaid for what he did and now the taxpayers should support his lifestyle. Fuck that

You clearly don't have a fucking clue about what happened here

 

[fpgt72]

Boo fucking hoo!!!
He was way overpaid for what he did and now the taxpayers should support his lifestyle. Fuck that

Ahh no.

If the company or .gov tells you, if you do X after you retire you will get Y, then that should not be changed. If you (the company or whatever) can't "afford" it anymore, then you make a change that hits all new people coming in, you don't change the old agreement.

 

[Docsherm]

If he was a Union employee then he deserves everything bad that is happening to him. FUCK those Union Socialist!!!!!!

 

[Bullfrog08]

If he was a Union employee then he deserves everything bad that is happening to him. FUCK those Union Socialist!!!!!!

So that can work the other direction too? These aren't CEOs, these are everyday people that worked for a promised retirement.

Vets were part of a socialist type program while enlisted....they should be treated the same?

 

[vinniedelpino]

Ahh no.

If the company or .gov tells you, if you do X after you retire you will get Y, then that should not be changed. If you (the company or whatever) can't "afford" it anymore, then you make a change that hits all new people coming in, you don't change the old agreement.

It's not a government pension and he's not a government employee. Delphi is a subsidiary corp of GM that was spun off in 1999.

The Susan Muffley Act is complete bullshit. Hold GM/Delphi execs and the fund managers accountable if you want. Hell, seize their assets and auction them off with the proceeds to be distributed to the pension holders for all I care.

I've never entered into any sort of contract or agreement with Delphi or its workers. I've never even owned a GM vehicle. Why in the sweet fuck should I (the American taxpayer) foot the bill?

The S&P is down somewhere around 15 percent YTD. Odds are most of our retirement accounts are down too. Are JB and the squad going to "top off" our retirement accounts as well? Is Dave Muffley? Hell no.

 

[Animal357]

I used to buy only Honda and Toyota, now only Toyota because I don't want Turbos which is all Honda makes now.

Much prefer to buy American, but Toyota is far superior quality and made just as much in this country as the big 3

 

[Arc Light]

I used to buy only Honda and Toyota, now only Toyota because I don't want Turbos which is all Honda makes now.

Much prefer to buy American, but Toyota is far superior quality and made just as much in this country as the big 3

Yeah, me too. And they are usually more "American" than Ford/GM/Dodge. I know my Tundra is more US made than any of the Big 3 half tons.

Not gonna lie though, I would love to have a Corvette

 

[Bigfatcock]

Lame. I thought you were going to mention the amount of used cars that people have fucked in.

 

[babyguppy]

When Bethlehem Steel went under they found out the union had mismanaged the pension fund. It was basically a Ponzi scheme with union leaders skimming off the top. The federal insurance stepped in. My dad got a little less than 30% of what he was promised.

it was a learning experience for me - trust no one to help support my retirement plans. No company pension and definitely not the .gov.

If I remember correctly, there was a big movement (buyouts) by takeover specialists (sharks) back in the early 2000s. The Takeovers were buying up companies in the steel business and others with HUGE company pensions. Takeovers were then running up the debt, declaring bankruptcy, and taking the pensions (cream) as a bonus. People who worked their whole lives putting money into the pension on the agreement of 30 years ago got totally FK'd. The government nodded their head and screwed over the workers.
And here we are today......
found this link

Bethlehem's plan, which has about 95,000 participants, has $3.9 billion in unfunded benefits that the PBGC will absorb. The size of the​

Bethlehem termination dwarfs what had been the PBGC's biggest loss: its March 2002 takeover of the pension plans of another failed steelmaker, LTV Steel Corp., whose plans had $1.9 billion in PBGC-guaranteed benefits.​

​

Selected assets of both Bethlehem, Pa.-based Bethlehem Steel and Cleveland-based LTV were purchased by International Steel Group Inc., a company formed to buy assets of financially distressed steel manufacturers. Cleveland-based International Steel did not assume the pension plan liabilities of either LTV or Bethlehem.​

 

[Docsherm]

So that can work the other direction too? These aren't CEOs, these are everyday people that worked for a promised retirement.

Vets were part of a socialist type program while enlisted....they should be treated the same?

You are comparing Apples and Hand Grenades.....

Even the Railroads Unions are subject to the GOV, yet they can collective barging and can actually walk out and strike. Try and strike and you will get a free trip to Kansas.

Just like I have heard from all of the Haters out there.... you choose to join the MIL, there is no draft........ They JOINED a socialist Union...... Expect to be treated like a socialist.


Their retirement cut cut for the betterment of the people. It was for the WORKERS!!!!!!

Unions are a gateway drug for Socialism..... But they have become accepted so much today that people forget it is the same principles that the USSR and PEC are founded on.

 

[wade2big]

So he wants to get on gov welfare like the rest? Taxpayers owe him dick. His grievances should be with with the big bad corporation. For him to say this is what it took for him to lose trust in government is a bit comical to say the least.

 

[Arc Light]

From the story: "The legislation would require the government to "top up" the pensions of the salaried Delphi workers, as GM did for the unionized workers."

From this I gather that these were not unionized employees. GM screwed these people royally and they should be the ones to make this right. It seems that GM showed preferential treatment to the unionized workers at the expense of the salaried workers in the bankruptcy. Regardless, a lot of people lost a shit ton during the recession of 2008. I wouldn't mind being made whole too, but it's not going to happen.

 

[308pirate]

If he was a Union employee then he deserves everything bad that is happening to him. FUCK those Union Socialist!!!!!!

Please read the article

 

[308pirate]

From the story: "The legislation would require the government to "top up" the pensions of the salaried Delphi workers, as GM did for the unionized workers."

From this I gather that these were not unionized employees. GM screwed these people royally and they should be the ones to make this right. It seems that GM showed preferential treatment to the unionized workers at the expense of the salaried workers in the bankruptcy. Regardless, a lot of people lost a shit ton during the recession of 2008. I wouldn't mind being made whole too, but it's not going to happen.

Both Obamas regime and gm fucked the salaried WORKERS

 

[308pirate]

You are comparing Apples and Hand Grenades.....

Even the Railroads Unions are subject to the GOV, yet they can collective barging and can actually walk out and strike. Try and strike and you will get a free trip to Kansas.

Just like I have heard from all of the Haters out there.... you choose to join the MIL, there is no draft........ They JOINED a socialist Union...... Expect to be treated like a socialist.


Their retirement cut cut for the betterment of the people. It was for the WORKERS!!!!!!

Unions are a gateway drug for Socialism..... But they have become accepted so much today that people forget it is the same principles that the USSR and PEC are founded on.

Labor unions have been socialist and communist agitators from day one

 

[DarnYankeeUSMC]

Yes they did. But it happens all the time in corporate America and the employees take it up the ass without the taxpayers being in the hook

Both Obamas regime and gm fucked the salaried WORKERS

Once again it was the big boy club that cleaned out the bank account and with government blessing. How was this any different than the too big to fail banks?

 

[308pirate]

Not gonna lie though, I would love to have a Corvette

fuck that piece of shit. Buy an Acura NSX, designed, engineered, manufactured, and hand assembled in the USA and nowhere else

You would not believe the concentration of manufacturing in Ohio to support Honda. American, Japanese, and European companies opening factories here to make components of all kinds and the giant Honda engine and transmission manufacturing facilities here. They do everything from casting, forging, machining, to final assembly.

 

[308pirate]

Yes they did. But it happens all the time in corporate America and the employees take it up the ass without the taxpayers being in the hook

Once again it was the big boy club that cleaned out the bank account and with government blessing. How was this any different than the too big to fail banks?

This was different because it was an open subversion of bankruptcy law

 

[308pirate]

Yeah, me too. And they are usually more "American" than Ford/GM/Dodge. I know my Tundra is more US made than any of the Big 3 half tons.

Not gonna lie though, I would love to have a Corvette

I fucking love my turbocharged Accord. The Acura TLX Type S gives me wood.

 

[DarnYankeeUSMC]

Laws don't apply to those that were in on that whole scheme. Some of those execs were paid $50 million for a couple weeks of smoking and drinking fine cigars and liquor while they divided up the money and then they walked away into oblivion

This was different because it was an open subversion of bankruptcy law

Laws.... Only apply to the minions and those that want to upset the apple cart.
Name a branch of the government that's not corrupted.
He's lucky that he's walking away with anything

 

[308pirate]

Laws don't apply to those that were in on that whole scheme. Some of those execs were paid $50 million for a couple weeks of smoking and drinking fine cigars and liquor while they divided up the money and then they walked away into oblivion

Laws.... Only apply to the minions and those that want to upset the apple cart.
Name a branch of the government that's not corrupted.
He's lucky that he's walking away with anything

You and I agree more than we don't

 

[SONIC SAAMI]

Just back from tearing Oregon route 78 a new asshole
Rubber down every corner.
God bless America!

 

[Sniperwannabee]

fuck that piece of shit. Buy an Acura NSX, designed, engineered, manufactured, and hand assembled in the USA and nowhere else

You would not believe the concentration of manufacturing in Ohio to support Honda. American, Japanese, and European companies opening factories here to make components of all kinds and the giant Honda engine and transmission manufacturing facilities here. They do everything from casting, forging, machining, to final assembly.

you got to post a pic!

 

[wade2big]

Where I’m from women drive cars and most of them drive SUVs.

 

[Marinevet1]

fuck that piece of shit. Buy an Acura NSX, designed, engineered, manufactured, and hand assembled in the USA and nowhere else

You would not believe the concentration of manufacturing in Ohio to support Honda. American, Japanese, and European companies opening factories here to make components of all kinds and the giant Honda engine and transmission manufacturing facilities here. They do everything from casting, forging, machining, to final assembly.

And the profits go back to the motherland............Japan......

 

[308pirate]

And the profits go back to the motherland............Japan......

This has got to be one of the most utterly stupid lines ever said

It's fucking clear that people who say that do not understand what profits do nor do they understand that profits are hardly the top impact a business has on the communities in which it operates.

Not only that, people like you cannot grasp the fact that the American subsidiaries of foreign corporations are taxed on their earning here.

BTW the profits go to whomever owns the stock. Honda is publicly traded. Want a piece of the action? Buy the fuck in. Stock exchange is that way ----->

I could not give a fuck less about American automakers, who long ago abandoned the state where I live to make their vehicles in Mexico, China, and India.

 

[Milf Dots]

And the profits go back to the motherland............Japan......

At least Japan doesn't have nuclear missiles pointed at us like China does.

 

[SilentStalkr]

Isn't there a federal pension insurance for these instances? Or is that why they only.lost 30%?

Yes, yes there is, but what they aren’t telling you is that those funds are in trouble as well.

 

[EddieNFL]

No GM, no Ford, no Chrysler, no more...actually never a Chrysler produc Moved to Toyota/Lexus a couple decades ago.

 

[pmclaine]

Lame. I thought you were going to mention the amount of used cars that people have fucked in.

Still available?

 

[pmclaine]

This was different because it was an open subversion of bankruptcy law

They fucked with the laws of capitalist nature.

There was a reason the invisible hand was bitch slapping them.

It's like changing human DNA without proper evolutionary pressure to ensure the right outcome. Guessing 13 years from now we will be saying oops and the Supreme Court will say No Refunds.

On the upside I am guessing GM has a fantastic ESG score.

Anyone doubt the collapse wasn't used to make business a controlled wing of government?

 

[DarnYankeeUSMC]

With the banking laws that were enacted I don't believe that it's a tinfoil conspiracy to say that the 08 debacle wasn't a planned event.
The government took a serious amount of control over major industries and the too big to fail banks. Then they choked out a majority of the small banks.
But I am just some Billy sitting on the outside watching the game. So what do I know.

They fucked with the laws of capitalist nature.

There was a reason the invisible hand was bitch slapping them.

It's like changing human DNA without proper evolutionary pressure to ensure the right outcome. Guessing 13 years from now we will be saying oops and the Supreme Court will say No Refunds.

On the upside I am guessing GM has a fantastic ESG score.

Anyone doubt the collapse wasn't used to make business a controlled wing of government?

And just like that there's another boom of over inflated housing and sketchy bank loans that are all within the guidelines to prevent another 08 event. In the meantime the Fed has printed $23 trillion in Monopoly money. Who's been the beneficiary of that money?

 

[Oldloser]

The Susan Muffley Act is complete bullshit. Hold GM/Delphi execs and the fund managers accountable if you want. Hell, seize their assets and auction them off with the proceeds to be distributed to the pension holders for all I care.

I've never entered into any sort of contract or agreement with Delphi or its workers. I've never even owned a GM vehicle. Why in the sweet fuck should I (the American taxpayer) foot the bill?

The S&P is down somewhere around 15 percent YTD. Odds are most of our retirement accounts are down too. Are JB and the squad going to "top off" our retirement accounts as well? Is Dave Muffley? Hell no.

Agree with you 100% on these points. No one is held accountable.

I watched my grandparents and great uncles lose a ton of money and then later testify in the S&L scandal and lots of S&L execs went to jail.

 

[pmclaine]

Agree with you 100% on these points. No one is held accountable.

I watched my grandparents and great uncles lose a ton of money and then later testify in the S&L scandal and lots of S&L execs went to jail.

McCain didn’t.

 

[SilentStalkr]

Agree with you 100% on these points. No one is held accountable.

I watched my grandparents and great uncles lose a ton of money and then later testify in the S&L scandal and lots of S&L execs went to jail.

And did that go get their money back? I suspect not. There is no justice. In fact, sending them to jail just cost your family even more money because they then got hit with taxes that supported those asshats in jail.