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Reply #32: What are you talking about? You obviously didn't read the OP. [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
ClarkUSA Donating Member (1000+ posts) Send PM | Profile | Ignore Sun May-03-09 08:39 AM
Response to Reply #29
32. What are you talking about? You obviously didn't read the OP.
Edited on Sun May-03-09 08:41 AM by ClarkUSA
The castrating of a strong union is bad news for everyone, when the benefits at strong union workplaces are chipped away so are everyone elses.

The Obama administration is doing nothing of the kind. Quite the opposite is happening.

The U.A.W., for example, has received upfront protection from the Treasury Department for its pension plan and the fund that will take over responsibility for retiree medical benefits.... that fund, called the voluntary employee beneficiary association, or VEBA, will control 55 percent of the equity in the new Chrysler once it emerges from bankruptcy, and hold a seat on the Chrysler board... for now, even though Chrysler workers had to agree to lower pay and less generous benefits as part of the deal, the U.A.W. appears to be enjoying relative safety in helping steer the course of the Chrysler bankruptcy.

“I’m very comfortable,” Ron Gettelfinger, the U.A.W.’s president, said Friday on National Public Radio. “It’s not like we’re going into this bankruptcy fighting with Chrysler and Fiat and the U.S. Treasury. We’re going in there in lockstep to put our agreements in place.”

Labor and restructuring lawyers said such a comprehensive deal going into bankruptcy was rare.

“This is extraordinary, truly extraordinary,” said Mary Jo Dowd, a partner in the financial and bankruptcy restructuring practice at Arent Fox in Washington. “I never would have thought a year ago that this would occur. These are truly unusual times.”

Asked if he could recall any other union that fared as well, David L. Gregory, a labor law professor at St. John’s University, replied: “Nobody’s even close.”

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