Now, if the retirees get dumped, you know who gets the bill? The Taxpayers. Ever hear of the Pension Guarantee Corp.? Every time an unethical company weasels out of its pension obligations, the government--that is, the taxpayers--gets stuck with the tab.
So I guess the choice is, do we pay for an attempt to rebuild a viable GM, or do we pay for their retirees because the company didn't put enough money into the pension fund in the good years? Or do we get stuck paying for BOTH?
I don't think the retirees should have to "suck it up" just because the company didn't plan for the future properly. GM should've thought about the retirees before paying out millions in salaries and bonuses to the white-collar folks in good times and bad. Dumping the retirees off on the taxpayers is a chickens#it way out...let 'em go after Roger Smith and a few other execs and take back some of the millions in compensation THOSE folks got from GM first, before the taxpayers have to foot the bill.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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