Other Editorials

Strike Out VEBA

Jim Dollinger
Tuesday, September 25, 2007

Those in the know are fully aware that this whole strike is part and parcel of the plan to create the mother of all VEBAs. Watch the "agreement" be hurriedly presented to the members so that everyone can "get back to work". Knowingly or unwittingly, the media is playing a large role in allowing this scheme to come to fruition. Hundreds of thousands of retirees will be left stranded as the underfunded account is plundered. GM will be off the hook, the union will play dumb, and Wall Street will have completed their strategy to pillage the capital. It all began years ago by assigning a present value to the future liability. Why else create the completely unnecessary administrative bureaucracy, except to shift huge dollars into the coffers of the International UAW as reward for their cooperation?