The Truth About Cars » Pensions http://www.thetruthaboutcars.com The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Mon, 02 May 2016 16:45:56 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.4 Report: Treasury Behind Delphi Pensions Debacle http://www.thetruthaboutcars.com/2012/08/455806/ http://www.thetruthaboutcars.com/2012/08/455806/#comments Tue, 07 Aug 2012 17:21:58 +0000 http://www.thetruthaboutcars.com/?p=455806 The Daily Caller says it has emails that prove that the pensions of 20,000 salaried retirees at Delphi were terminated “solely because those retirees were not members of labor unions.” The emails, says the conservative website “contradict sworn testimony, in federal court and before Congress, given by several Obama administration figures. They also indicate that […]

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The Daily Caller says it has emails that prove that the pensions of 20,000 salaried retirees at Delphi were terminated “solely because those retirees were not members of labor unions.” The emails, says the conservative website “contradict sworn testimony, in federal court and before Congress, given by several Obama administration figures. They also indicate that […]

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GM Outsources Its Pensions To China http://www.thetruthaboutcars.com/2012/07/gm-outsources-its-pensions-to-china/ http://www.thetruthaboutcars.com/2012/07/gm-outsources-its-pensions-to-china/#comments Thu, 19 Jul 2012 17:15:54 +0000 http://www.thetruthaboutcars.com/?p=453514 General Motors pensioners should not worry about their underfunded pension plan. Its assets will be in safe hands. Those of the Chinese government. The Chinese government has agreed to buy large chunks of it, says Financial Times. According to the paper, China’s “State Administration of Foreign Exchange, which manages China’s more than $3 trillion in […]

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General Motors pensioners should not worry about their underfunded pension plan. Its assets will be in safe hands. Those of the Chinese government. The Chinese government has agreed to buy large chunks of it, says Financial Times. According to the paper, China’s “State Administration of Foreign Exchange, which manages China’s more than $3 trillion in […]

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General Motors Canada Pension Plan Faces $2.2 Billion Deficit http://www.thetruthaboutcars.com/2012/02/general-motors-canada-pension-plan-faces-2-2-billion-deficit/ http://www.thetruthaboutcars.com/2012/02/general-motors-canada-pension-plan-faces-2-2-billion-deficit/#comments Wed, 22 Feb 2012 20:02:27 +0000 http://www.thetruthaboutcars.com/?p=432033 Even after Canadian taxpayers contributed $3.2 billion (Canadian) to General Motors’ pension fund after GM’s bankruptcy proceedings in 2009, the company’s pension fund for unionized employees is still short $2.2 billion – a fair amount for a plan that’s responsible for 30,000 employees. The pension plan deficit was a key factor in GM’s pitch to […]

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Even after Canadian taxpayers contributed $3.2 billion (Canadian) to General Motors’ pension fund after GM’s bankruptcy proceedings in 2009, the company’s pension fund for unionized employees is still short $2.2 billion – a fair amount for a plan that’s responsible for 30,000 employees. The pension plan deficit was a key factor in GM’s pitch to […]

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With Liabilities Looming, GM And UAW Agree To Pension Buyouts. But What About The Workers? http://www.thetruthaboutcars.com/2011/09/with-liabilities-looming-gm-and-uaw-agree-to-pension-buyouts-but-what-about-the-workers/ http://www.thetruthaboutcars.com/2011/09/with-liabilities-looming-gm-and-uaw-agree-to-pension-buyouts-but-what-about-the-workers/#comments Tue, 27 Sep 2011 19:27:45 +0000 http://www.thetruthaboutcars.com/?p=412732 One of the legacy costs that GM was not able to reduce in the bailout was pension costs, a whopping $128b obligation as of the end of 2010. And though the plan is “only” underfunded by $10.8b at the end of June according to GM, Kenneth Hackel, president of CT Capital LLC (and author of two […]

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One of the legacy costs that GM was not able to reduce in the bailout was pension costs, a whopping $128b obligation as of the end of 2010. And though the plan is “only” underfunded by $10.8b at the end of June according to GM, Kenneth Hackel, president of CT Capital LLC (and author of two […]

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Inspired By Quadrangle Scandal, Republicans Call For Investigation Into Rattner’s Delphi Dealings http://www.thetruthaboutcars.com/2010/04/inspired-by-quadrangle-scandal-republicans-call-for-investigation-into-rattners-delphi-dealings/ http://www.thetruthaboutcars.com/2010/04/inspired-by-quadrangle-scandal-republicans-call-for-investigation-into-rattners-delphi-dealings/#comments Fri, 30 Apr 2010 01:14:05 +0000 http://www.thetruthaboutcars.com/?p=354782 When former auto task force boss Steve Rattner’s former firm Quadrangle recently settled a “pay-to-play” corruption investigation, it threw Rattner under the bus, saying: We wholly disavow the conduct engaged in by Steve Rattner, who hired the New York State Comptroller’s political consultant, Hank Morris, to arrange an investment from the New York State Common […]

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When former auto task force boss Steve Rattner’s former firm Quadrangle recently settled a “pay-to-play” corruption investigation, it threw Rattner under the bus, saying: We wholly disavow the conduct engaged in by Steve Rattner, who hired the New York State Comptroller’s political consultant, Hank Morris, to arrange an investment from the New York State Common […]

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GAO: Pension Plans Will Kill Detroit. Again. http://www.thetruthaboutcars.com/2010/04/gao-pension-plans-will-kill-detroit-again/ http://www.thetruthaboutcars.com/2010/04/gao-pension-plans-will-kill-detroit-again/#comments Wed, 07 Apr 2010 15:13:00 +0000 http://www.thetruthaboutcars.com/?p=351679 It would be impossible to blame Detroit’s decades-long decline on a single factor, but if one were to make a list, defined pension obligations to workers would be somewhere very near the top. Thanks in large part to the unionization of America’s auto industry, Detroit has groaned under the weight of crushing pension obligations since […]

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It would be impossible to blame Detroit’s decades-long decline on a single factor, but if one were to make a list, defined pension obligations to workers would be somewhere very near the top. Thanks in large part to the unionization of America’s auto industry, Detroit has groaned under the weight of crushing pension obligations since […]

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GM “Accelerates” $50m Payment to Delphi; Delphi Cuts Health Care http://www.thetruthaboutcars.com/2009/02/gm-accelerates-50m-to-delphi-delphi-cuts-health-care/ http://www.thetruthaboutcars.com/2009/02/gm-accelerates-50m-to-delphi-delphi-cuts-health-care/#comments Fri, 06 Feb 2009 13:51:46 +0000 http://www.thetruthaboutcars.com/?p=241362 If you’re familiar with Delphi—a former GM division with the words “bankrupt since October 10, 2005” over the door—then you’ll know that they’re a not-so-hidden cancer on GM cancerous corpse. Even as The General seeks to survive with a federal IV stuck in its metaphorical artery, it continues to peel off just enough cash—now your […]

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If you’re familiar with Delphi—a former GM division with the words “bankrupt since October 10, 2005” over the door—then you’ll know that they’re a not-so-hidden cancer on GM cancerous corpse. Even as The General seeks to survive with a federal IV stuck in its metaphorical artery, it continues to peel off just enough cash—now your […]

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