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Imagine you have been working for a company for many years as a faithful employee. You have diligently put away money into the company's 401k program and invested in company stock. The company goes through a merger and you are issued new stock in the new company. Now that company goes bankrupt through no fault of yours and you find yourself being sued for the value of your stock at the time of the merger.  Does that make you feel secure in your investment portfolio?

This is exactly what is happening to many of the shareholders of the Chicago Tribune and LyondellBasell.

In this series of articles, we have addressed cases involving Delphi employees being stripped of their pensions without representation, General Motors being swept through the bankruptcy process in 44 days leaving an undocumented, perhaps illegal, transfer of funds in its wake, and collective bargaining agreements being treated differently depending on which unions were involved in both the Delphi and Hostess bankruptcies. These cases appear to demonstrate unequal protection under the law and the

Is 44 days too fast to move a bankruptcy the size of General Motors (GM) through the courts system without missing something major?  Apparently so, as Judge Robert Gerber, in the Southern District of New York (SDNY) Bankruptcy Court, is now having to revisit this case because of some potentially damaging issues involving the Canadian subsidiary of GM and alleged improper transfer of assets to hedge funds. I have previously reported on the GM bankruptcy and spoke with Judge Gerber about the Canadian lock-up funds in San Diego last year.   Read more »

During the peak of the Auto Bailout, salaried pensioners from Delphi were, as many believe, unlawfully stripped of their pensions. U.S. Bankruptcy Court Judge Robert Drain (Southern District of New York) allowed the Treasurary Department, under the leadership of Secretary Timothy Geithner, to unfairly represent various sides of the case leaving the salaried pensioners virtually unrepresented by counsel.     Read more »

During my investigation series, "A Lawless Presidency", I interviewed Ohio Congressman Mike Turner (R) about the Delphi bankruptcy case. Turner said the "entire process was a miscarriage of justice." After investigating this case further, it is clear why he said that. As you will see below, what happened to the Delphi Salaried Retirees during this bankruptcy process was unfair is unquestionable. But was it a consistent application of the law?

My investigation into the Delphi Salaried Pension Scandal, one of the “not optimal” results of the bankruptcies of General Motors and auto parts manufacturer Delphi, turned out to be the tip of an iceberg of a system that is abusing American citizens while it serves a President bent on redistributing wealth.  After my investigation in Washington, D.C. and my visit to the Southern District of New York Bankruptcy Courts in New York City, I learned there would be a conference of our nation’s bankruptcy judges in San Diego. What I learned there was very eye opening.

The conference was the National Conference of Bankruptcy Judges.  The conference also included a hearing of the American Bankruptcy Institute’s Bankruptcy Reform Commission.

While investigating the bankruptcy scandal which, under Obama-appointee Timothy Geithner's influence, stole hard-earned and well-funded pensions from 20,000 auto workers, I stumbled into an underworld of law and questionable processes within our nation's bankruptcy court system.  At the recent National Council of Bankruptcy Judges Conference in San Diego last month, I heard phrases like “melting ice cubes,” “rotting fish,” and “fox guarding the hen house” frequently used among 150 federal judges to rationalize certain bankruptcy court proceedings.  Is this a practice of law?  I was shocked to learn that many bankruptcy judges think that it is fine to go after ordinary shareholders of companies that enter bankruptcy in order to disgorge the value of their investments.  They even had a conference session

Vice President Joe Biden likes to cheer "Osama Bin Laden is Dead and GM is Alive!" But what he doesn't tell you is that since the illegal GM bankruptcy, President Barack Obama has been hard at work as the "Job-Exporter-in-Chief" moving thousands of high paying, middle-class, NON-UNION jobs to China. GM, the shining star on top of the Obama Re-Election "Winter Holiday Tree", is leaving town quickly and what's left is circling the drain.  

In talking with former GM employees, I learned Obama has been sending non-union jobs like product design, engineering and drafting jobs to China.

When I learned about the Delphi Salaried Retirees Pension Scandal in a brief news item on Bankruptcy Law Review, I started wondering if members of the Obama Administration and other insiders were meddling with the bankruptcy courts to deliberately transform the bankruptcy process into a mechanism for the redistribution of wealth.  My interest grew further when I interviewed Alex Cortes of Let Freedom Ring, who has been following this issue,

In my first article about the Delphi Salaried Retirees Pension scandal, I posted an ad from Let Freedom Ring (LFR), an organization that has been shining a very bright light on this scandal and is trying to help these 20,000 retirees regain the pension they worked their entire lives for that was stolen from them by the Obama Administration through the GM/Delphi bankruptcy process. While in Washington, DC last week,