Delphi retiree case

Delphi retiree case

washington

U.S. Rep. John Boehner of West Chester, R-8th, and U.S. Sen. Roger Wicker, R-Miss., sent a letter to the Government Accountability Office on Thursday, requesting an independent analysis of the federal financial assistance provided to General Motors and its treatment of Delphi Corp.’s salaried retirees. The salaried retirees saw their pensions cut by 30 percent to 70 percent when their plans were turned over to the Pension Benefit Guaranty Corp. during the federal government’s restructuring of GM. Boehner and Wicker said they expect the GAO to begin its reports in the next few months.

Avalon makes gains

Warren

Avalon Holdings Corp., a waste-management- services firm and parent company of Avalon Golf and Country Club, which operates golf courses and related facilities, reported its quarterly earnings Thursday. The company posted a loss of $12,000, or $.01 per share, for the second quarter of 2010 compared with a net loss of $3 million, or $.07 per share, for the second quarter of 2009. Net operating revenues in the second quarter of 2010 were $12.1 million, a 44 percent improvement from $8.4 million in the second quarter of 2009. The increase was driven primarily by improved revenues in the company’s waste-management-services segment.

Vindicator staff/wire reports