Push for Delphi benefits could stall PBGC chief’s approval


Push for Delphi benefits could stall PBGC chief’s approval

Pensions & Investments – Joshua Gotbaum's confirmation as director of the Pension Benefit Guaranty Corp. could be held up by Sen. Sherrod Brown, D-Ohio, who wants to urge the Obama administration to encourage General Motors Co. to meet pension obligations to Delphi Corp. retirees.

Mr. Brown and Rep. Tim Ryan, D-Ohio, “requested that the federal government, as a 60% shareholder in the new General Motors, bring GM to the negotiating table to work out a fair solution for the Delphi retirees,” according to a statement from Mr. Brown.

Mr. Gotbaum's nomination is pending approval from by Senate Finance Committee; his nomination was approved May 5 by the Senate Health, Education, Labor and Pensions Committee by voice vote, said Bergen Kenny, committee spokeswoman. Mr. Brown is on the Senate HELP committee, but he could hold up the approval if the nomination reaches the full Senate for a vote.

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