Sen. Sherrod Brown puts hold on Obama nominee over Delphi pensions


Sen. Sherrod Brown puts hold on Obama nominee over Delphi pensions

The Plain Dealer – WASHINGTON, D.C. — Ohio Democratic Sen. Sherrod Brown is blocking consideration of President Barack Obama's nominee to head the Pension Benefit Guaranty Corporation as a tactic to secure government intervention in a dispute over Delphi retiree pensions that were jeopardized by last year's General Motors bankruptcy.

Senators like Brown can indefinitely keep the Senate from considering nominees who require its confirmation. The White House declined comment on his actions.

"We owe it to the Delphi retirees to take all steps possible to secure their pensions," Brown said. "That's why I'm urging the Obama administration to encourage General Motors to meet its obligations to Delphi retirees."

Last November, Obama nominated investment banker Joshua Gotbaum to head the PBGC, a government-run program that takes over the pensions of financially distressed companies. Gotbaum has recused himself from handling Delphi matters because he once was an adviser to Delphi's bankruptcy creditors.

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