Congress Considering Mgmt Pension Bailout for Delphi

[remberger]

Congresswoman Wild,

According to the attached article, congress is considering "topping up" the Delphi management pensions. Rejected by courts, retirees take last shot to save pensions .

A very similar situation exists with the management pensions of retired Avaya employees, many of whom live in your district. If this legislation passes, please ensure we are covered.

I hope the legislation addresses some of the root causes of this problem. In the case of Avaya, Financial engineering by private equity loaded the company with debt when the company was take private. The legislation should make employee obligations such as pensions become senior obligations to any new debt assumed at change of control. I would be happy to discuss in further detail

Robert Emberger
1032 Resolution Drive
Bethlehem (Hanover Twp. Northampton County), PA.

https://www.yahoo.com/news/rejected-cou ... 28370.html