Monday, June 1, 2009

General Motors Bankruptcy

The General has fallen! I spent 24 years at GM. I hired in as an hourly employee and finished college while working full time. After graduation, my goal was to step up to the salaried ranks and perhaps offer my family a little better standard of living, acheiving the enviable position of mid level manager in the automotive components group. Being part of the ACG got me a one way ticket to the financial scam GM called Delphi. Their 8 month bankruptcy is still going 3 years later. When my job ran out I was forced into retirement taking a severe monetary hit due to my age but I had little choice.

While not expecting to be rich in my retirement, I did expect to receive a steady pension and health care benefits until the government mandated benefits kicked in. After 32 years I thought I had earned that much. Boy was I mistaken. Less than a year later, Delphi pulled the salaried retiree health care coverage and life insurance coverage. Now it is almost a certainty that our pensions will be turned over to the PBGC. Another drastic cut in pay looms. Take one for the team!

The salaried workforce will pay the price. I expect the same to happen to the GM salaried retirees as well. While Obama and the Democrats protect the UAW workforce and retirees the salaried workforce will fall into the black hole of who gives a fu**. I'm not talking about the unclassified salaried workforce that receives the bonuses and cars, I'm talking about the poor salaried bastards that were left to implement the idiotic requirements set forth by the bonus babies while fending off the UAW workforce that managed to come into work 4 days a week and usually late.

Yes I am angry. I now know how the folks an Enron feel.

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