A Spectre Is Haunting the Midwest…

Commenter Russ2000 proves he is not as out of date as his name implies with this link to some sad news for international brothersisterhood. At NakedCapitalism, guest Tyler Durden reveals that  the rogues gallery of Evil Chrysler Bondholders includes some of the United Auto Workers' fellow strivers in the struggle for fair wages, fair hours, medical/dental and longer weekends:

Indiana State Teachers Retirement Fund, Indiana State Police Pension Trust, and Indiana Major Movers Construction Fund, fiduciaries for "approximately 100,000 civil servants, including police officers, school teachers and their families" have objected to the 363 sale, and demand Judge Gonzalez should block the sale, claiming "the plan is illegal and tramples their rights."

Includes a readable-in the-post pdf of the court filing.

Comments

[John C. Randolph]

The lesson I take away from this is that some retirement funds need to find smarter managers. What kind of an idiot would lend money to Chrysler in the last decade?

-jcr

[Hazel Meade]

This should get more press, solely because it would be amusing to see the various union pension funds fighting it out on TV. Plus, the cognitive dissonance as union backers try to decide who they support more, and end up having to discover concepts like security and contracts would be endlessly entertaining.

[Invisible Finger]

Indiana went for McCain, right?

I think we already know the loser in this battle.

[alan]

Title meant to be a Fritz Leiber allusion? I recall he wrote a story by a similar titled aimed as a dig at LBJ.

[The Last Thrice-Sayer]

Indiana went for McCain, right?

Wrong...

[The Last Thrice-Sayer]

Plus, the cognitive dissonance as union backers try to decide who they support more, and end up having to discover concepts like security and contracts would be endlessly entertaining.

I have a feeling they're going to automatically support whomsoever Obama supports. Just a gut instinct.

And I have more than a feeling that I know whom Obama's going to support.

[Mister DNA]

What kind of an idiot would lend money to Chrysler in the last decade?

Probably the same idiots who - in the mid '90s - divested all their money from Seagram and Time-Warner because those companies helped distribute Snoop Doggy Dogg albums.

[Naomi]

Judge "Speedy" Gonzalez has already rejected the motion.

[martin]

Heh!!

Oh shit, now Obama's guys who pulled off the Chrysler deal really have a problem: UAW vs. their Brothers. Damn, throw the guy who overlooked that under the bus, hang him out in public to dry and all will be well. Then slip the Indiana folks some bailout er.. reinvestment funds and make them go away.

Heh!

[Dello]

This is better than a porn cum-shot to the face!

I've taken those, so I should know!

[db]

This should get more press, solely because it would be amusing to see the various union pension funds fighting it out on TV.

One of the things that I've learned in my many years working with trade unions is that you will walk on Mars before you will hear a union member badmouth their union brothers or leadership to an outsider.

The unions know their pecking orders, from the internal politics of the smallest local, all the way up to the UAW, UMW, etc. You can bet that the little guys here will straighten up and fly right, or there will be repercussions within the overarching international organizations. Outsiders will never see this.

[Billy!]

Screw those fatcat Pension fund beneficiaries. The don't need that money, they sit around lighting cigars with $100 bills anyway.

[R C Dean]

What kind of an idiot would lend money to Chrysler in the last decade?

A union?

[Lost_In_Translation]

Don't worry yall, those pensions will soon get their federally sponsered union bailout. After all, King Rent Seeker is in office.

[Gunter]

"This is better than a porn cum-shot to the face!

I've taken those, so I should know!"

You've taken a cum shot to the face?

[AK]

Interesting, the LA Times actually had an article about this today - http://www.latimes.com/business/la-fi-gm-bondholder21-2009may21,0,7273428.story.

Plus they had that series about the near impossibility of firing LA Unified teachers - anyone know what's going on with them?