Frank -- I appreciate your
Frank -- I appreciate your article but would like to make a couple of points regarding the GMRA to you and for your readers.
To your point: "Who knew? Finally the General Motors Retiree Association (GMRA) came out swinging on behalf of the 118,000 salaried retirees of General Motors Corporation (NYSE: GM) in a major way for its decision to trash the retirement plan."
The people who founded GMRA came out swinging at the time of the bankruptcy when they tried to get retirees a seat at the table with other unsecured creditors, but the bankruptcy judge ruled against them after huge effort on a few individuals and GMRA's part. Many, many hours and emotions were spent on that attempt. From then on, GMRA tried to be a voice to GM but it was an uphill battle that could not be won.
To your point: "With all respect, I have to ask where was the GMRA when the original retirement plans were laid out? Never heard them complaining except when it was underfunded. No mention of indexing for growth."
Not sure what you mean, as GMRA was formed during the bankruptcy and did focus on the pension fund and expended efforts behind the scenes helping individual retirees and tried to make a difference for the group of retirees.
Not sure you have enough information about the activities of GMRA to be making such bold statements... Thanks.