Three years later, we learn the truth about the auto-take over. Obama used the occasion to cheat 15,000 non-union retirees of their pensions:

How soon we forget the past.  The takeover of Chrysler and GM (April of 2009) is a perfect example.  I am going to post (in this article) words written in 2009,  about a non-union company named Delpi,  a company that had invested its retirement funds for 15,000 retirees in GM stock.  Along with others,  Dephi had legal protections in place that guaranteed this retirement fund against bankruptcy protections that prevent the kind of takeover Obama had in mind.    Barack Hussein Obama maneuvered around those protections in order to replenish auto union retirement funds and cheated the Delphi retirement fund of 70% of its equity value.  (Police and teacher unions lost huge percentages of their equity as well).  


As you read this dated article, be reminded that the 35% Fiat ownership of Chrysler,  a projection mentioned in the following article,  is now,  as of mid-2011,  100% ownership by Fiat,  at a loss of 1.5 billion dollars to the American taxpayers.  Such is the genius of Obama,  not reported in the Lame Stream Media.   


GM stock was selling for $20.08 yesterday,  according to Market Watch,  when its IPO initiated at $33 per share  --  a loss to the American taxpayers of uncounted billions (IPO is "Initial Public Offering").  


The Chevy Volt's year end sales figures came in 40% lower than expectations including government purchases that inflated the Volt's sales numbers and a $7,500 per vehicle reimbursement just to get people to buy these things.  The Volt's sales numbers are an abject failure,  but,  again,  the Lame Stream Media is ignoring the story.  


When you hear of the "raging success" of Obama's orchestrated union take over of the GM and Chrysler,  know that such talk is nothing but inflated rhetorical nonsense  (code for "lies).  


Here is that article linked to the original piece.  Be sure to read the hyperlinked articles embedded within the story.

When the Obama administration this past spring forced the bankrupt General Motors and Chrysler Corp. into virtual public receivership, officials justified the action as crucial to the survival of the auto industry and indeed the entire economy. Yet this unprecedented action has had several downsides, one of the less heralded of which has been the sudden vulnerability of current and retired employees who don't belong to a union. Case in point: the roughly 15,000 nonunion retirees of auto parts manufacturer and former GM subsidiary Delphi Corporation on the verge of losing their pension, health insurance and life insurance benefits. These people are getting a first-hand lesson in the drawbacks of not being politically connected. That's something members of the United Auto Workers (UAW) and other auto industry-related unions don't have to worry about. . . . . . . .  The full article is published here.