Is buying a car getting political

Wow!!!.....normally I wouldn't comment and I probably shouldn't now seeing that it's the UAW and not the CAW which is the Certified Bargaining Agent up here. The Pension Plan should be a separate entity from the business and the plan members should be entitled to the provisions laid out in the plan. There may be some language dealing with bankruptcy and a partial or total windup of the plan. I'm not sure of the funding requirements for PP's south of the 49th but there rules up this way to ensure plan solvency, five years being the standard for now. The global crisis may see some changes to give planholders more time to top up the funds. A Defined Benefit is a "promise" Should a plan "wind Up" the members are first in line. This deal is for GM and Chryco..to sustain the "business" per se. The problems funding the PP's existed long before the financial meltdown of the past year, when interst rates were high, the sponsors took a "holiday" as the interest covered the funding requirements The obligation should be on the plan sponsor to ensure solvency for the members, irresepective of whether or not bankruptcy is declared. OB is trying to take the politically correct way out. I feel bad for the investor.....I've had my portfolio take a ****kicking over the past while but an investor invests knowing the risks...up this way at least, no promises made ..but a member of a defined benefit plan has been given a promise.
I too am a Bowtie Guy but there's a Mustang in my garage right now. Ford was a bit more proactive a couple of years ago when they saw trouble coming and they went through a really tough time.good on Ford. I won't hold it against you for being a management person..a guy's gotta eat and I know that you don't hate me for using a gavel to chair a meeting...we'll all get thru this.

Can't argue with your post in regards to the buyouts nor the politics behind it. The only two things guaranteed are death and taxes. I'm not certain on exactly how the government backs defined benefit PP's and private bank accounts down your way. Up here accounts are covered up to a max of 100,000 now I believe. Federally regulated PP's are somewhat covered. CAW members in the auto industry are not covered so they would fall under the provincial regulations and the master text of the PP. The assets of the plan not in consideration should the company go bankrupt. Should the plan be in surplus this surplus would be in consideration provided that it does not effect the plan members negatively.
I hate to say it but they probably should have gone under and restructured under Chapter 11. Air Canada did that a few years ago. One of the reasons they weren't bought was because of their PP. Air Canada isn't out of the woods yet.
I share your cynacism in the government controlling the companies. We went through this a number of years ago where the government paid way more than market value and after a number of years ..and countless tax dollars getting the business to be profitable they sold it for cents on the dollar to some "lucky" business.
I have also seen some businesses bought up for the assets in the PP ..[not lately mind you] and the business shut down. Might be a good way of making money but I'm not fond of that practice.
The automakers are looking at a two tiered system. I believe they have two wage tables already. They may want to look at Winding Up the PP and start from scratch going forward and maybe have a more affordable cost structure.
It's a shame that it all has to come to this but as bad as the north american taxpayer is getting bit by the buyout I'm more upset with the way the bank buyouts were handled..but that's another story and I won't get into it here..I promise

Except for when I was younger and broke, I have always bought Jeep and will continue too... GM is about ready to go belly up too...

I haven't found the actual written report but they were talking about it on the radio yesterday and we should hear more about it soon. It seems at least some dealerships were shut down because they were big republican contributors and others were saved because they were Obama supporters. If true I hope Dodge goes down the tubes. It looks like GM may be repeating the mistake.

Hummer being bought by the Chinese. Ouch that hurts. Ford sales are up. Never really been a Ford fan but I am now.