Monitoring House subcommittee hearing looking into Delphi Pensions. Background: GM restored UAW pensions, but not salaried pensions.
— Jeff Gilbert (@jefferygilbert) July 10, 2012
More from Michelle Malkin:
Consider the real-life horror story of 20,000 white-collar workers at Delphi, a leading auto parts company spun off from GM a decade ago. As Washington rushed to nationalize the U.S. auto industry with $80 billion in taxpayer “rescue” funds and avoid contested court termination proceedings, the White House auto team schemed with Big Labor bosses to preserve UAW members’ costly pension funds by shafting their nonunion counterparts. In addition, the nonunion pensioners lost all of their health and life insurance benefits.
The abused workers — most from hard-hit northeast Ohio, Michigan and neighboring states — had devoted decades of their lives as secretaries, technicians, engineers and sales employees at Delphi/GM. Some workers have watched up to 70 percent of their pensions vanish.
Be sure to read the whole thing. What happened to the Delphi employees is nothing short of shameful.
Ohio GOP congressman Mike Turner, a member of the Oversight Committee, made it clear that he had no patience for obfuscation.
Auto Task Force members are before @GOPoversight bc of their refusal to provide answers on #Delphi to American taxpayers. #tcot
— US Rep. Mike Turner (@RepMikeTurner) July 10, 2012
@RepMikeTurner says "happy train of silence" on Delphi retirees pension decision ends today for ex-auto czar & 2 ex-auto task force members.
— David Skolnick (@dskolnick) July 10, 2012
Earlier this year, TARP Special Inspector General Christy Romero warned that former Auto Czar Ron Bloom and former Auto Task Force members Harry Wilson and Matthew Feldman would be uncooperative participants in the Delphi investigation:
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The three “have refused to meet with SIGTARP and provide information and answers to questions concerning the role they played. … SIGTARP believes the Auto Task Force played a role in the pension decision and these individuals’ failure to speak to SIGTARP on this issue poses a significant obstacle to SIGTARP’s ability to complete its audit,” Romero said in a May 9 letter.
Christy Romero, POTUS' appointee as TARP special inspector gen., said "no valid reason" for 3 ex-Obama apptees. to refuse to talk on Delphi
— David Skolnick (@dskolnick) July 10, 2012
SIGTARP's Christy Romero: 3 task force members refusal to cooperate has caused "significant delays" in investigation
— Christina Rogers (@cvrogers) July 10, 2012
Matthew Feldman said he's proud of his work as ex-chief legal adviser of auto task force. Says Delphi underfunded its salary plan.
— David Skolnick (@dskolnick) July 10, 2012
Ex-auto team legal advisor Matt Feldman says gov. agreed to "top off" pensions for Delphi hourly workers to honor union pact
— Christina Rogers (@cvrogers) July 10, 2012
Delphi hearing. Task force member says GM didn't "top up" pensions for salaried workers, because it only had agreement with unions
— Jeff Gilbert (@jefferygilbert) July 10, 2012
Committee council Mathew Feldman says Delphi bankruptcy meant "painful and necessary" sacrifices.
— Jeff Gilbert (@jefferygilbert) July 10, 2012
Matthew Feldman said the restructuring of Delphi was "painful" & he has the "deepest sympathy" for the retirees who had pension cuts.
— David Skolnick (@dskolnick) July 10, 2012
From The Detroit News:
“I remain convinced today that it was the best course of action available at that time,” Matthew Feldman, a bankruptcy attorney who was on the task force, said at a U.S. House subcommittee hearing today. “I recognize that the restructuring process imposed painful but necessary actions on many of Delphi stakeholders.”
Former Car Czar Ron Bloom made no comment on Delphi pensions during his statement. Simply talked about industry progress after bailout.
— Jeff Gilbert (@jefferygilbert) July 10, 2012
Harry Wilson, ex-auto task force member, said "the human costs" of bailout was "tragic," including Delphi retirees, at congressional hearing
— David Skolnick (@dskolnick) July 10, 2012
Wilson says task force didn't get involved in business decisions of automakers, including GM and its relatinoship with Delphi.
— Jeff Gilbert (@jefferygilbert) July 10, 2012
Clowers says GM "topped up" other union's pensions, because they were needed to resolve Delphi bankruptcy.
— Jeff Gilbert (@jefferygilbert) July 10, 2012
Clowers says salaried plan was fully funded when GM transferred it to Delphi…and GM didn't have funds to "top up" that pension.
— Jeff Gilbert (@jefferygilbert) July 10, 2012
Legal professor Todd Zywicki says: GM's "top off" of Delphi's union pension plans "unjustified under bankruptcy law", added $1B to bailout
— Christina Rogers (@cvrogers) July 10, 2012
Law prof. Todd Zywicki says GM's decision to help hourly & not salaried Delphi retirees is "far-fetched"&"by & large this is a smoke screen"
— David Skolnick (@dskolnick) July 10, 2012
Zywicki says: "It’s hard to see any explanation other than political clout."
— Christina Rogers (@cvrogers) July 10, 2012
Federal employees who are responsible for spending billions of taxpayer dollars owe an accounting for their actions. #delphi #bailout
— US Rep. Mike Turner (@RepMikeTurner) July 10, 2012
SIGTARP calls former @USTreasuryDept officials refusal to participate in #Delphi investigation would set a "dangerous precedent" #tcot
— US Rep. Mike Turner (@RepMikeTurner) July 10, 2012
Rep @MikeKellyforPA3 is grilling witnesses at Delphi/auto bailout congressional hearing. Says it's "offensive" that GM paid no taxes last yr
— David Skolnick (@dskolnick) July 10, 2012
@RepBillJohnson comparing pensions for Delphi hrly & salary retirees: I learned this principal in kindergarten-fair is fair&this wasn't fair
— David Skolnick (@dskolnick) July 10, 2012
Tone of congressional subcommittee on Delphi retirees/auto bailout hearing is getting partisan.Ds critical of Romney;Rs say Obama took sides
— David Skolnick (@dskolnick) July 10, 2012
Quelle surprise.
3 task force members — Bloom, Wilson, Feldman — say delayed response to SIGTARP because busy, felt they didn't have more to contribute
— Christina Rogers (@cvrogers) July 10, 2012
House oversight's Pat McHenry tells SIGTARP's Romero: next time you're having trouble getting interviews, we'll have a hearing
— Christina Rogers (@cvrogers) July 10, 2012
Former auto czar Ron Bloom says task force deferred business judgement to GM; UAW had a "degree of leverage", tho
— Christina Rogers (@cvrogers) July 10, 2012
@RepMikeTurner won't end Delphi/auto bailout hearing b/c Ron Bloom, ex-auto czar, won't "answer [all my] questions."
— David Skolnick (@dskolnick) July 10, 2012
Almost 2 1/2 hours into hearing & people are leaving the Delphi/auto bailout congressional subcommittee hearing.
— David Skolnick (@dskolnick) July 10, 2012
The House subcommittee hearing on Delphi retirees/auto bailout ends nearly three hours after it started.
— David Skolnick (@dskolnick) July 10, 2012
Former @BarackObama officials will finally answer SIGTARP questions after previously refusing – http://t.co/W65RAJEE @mboyle1 @DailyCaller
— US Rep. Mike Turner (@RepMikeTurner) July 10, 2012
So, the Obama officials have had a change of heart. But Romero’s earlier warning wasn’t entirely disproven.
At the last minute before the hearing, Feldman, Bloom and Wilson agreed that they’d sit down for interviews with SIGTARP auditors.
During Tuesday’s hearing, though, Bloom refused to agree to answer questions Ohio Republican Rep. Mike Turner had given him at a hearing over a year ago. At a June 22, 2011 hearing, Turner handed Bloom 25 questions about his role in the bailout. Back then, Bloom said that, “absolutely,” he’d answer them. Bloom never answered Turner’s questions.
When Turner asked Bloom if he’d answer them in writing after Tuesday’s hearing, he refused. Bloom said he didn’t answer them before because he believed his August 2011 resignation meant he didn’t have to follow through on this commitment.
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