Hearing for Delphi retirees in Dayton

Hearing for Delphi retirees in Dayton

DAYTON

The U.S. House Oversight and Government Reform Subcommittee on Government Operations will conduct a field hearing in Dayton today on the controversy surrounding pensions for salaried retirees of The Delphi Corp.

The hearing, titled “The Delphi Pension Bailout: Unequal Treatment of Retirees,” will take place at 10 a.m. at Sinclair Community College.

“This field hearing will continue to highlight the shameful treatment of Delphi Salaried Retirees by the Obama Administration. They picked winners and losers during a failed bailout, which has cost the taxpayers billions of dollars and these retirees their futures. I will continue to support the retirees in their efforts to have their pensions restored, as well as to hold this administration accountable for their actions,” said U.S. Rep. Mike Turner, R-Ohio.

There are about 20,000 salaried Delphi retirees, including about 1,500 in the Mahoning Valley.

China auto sales growth slows more

BEIJING

China’s auto sales growth decelerated further in May amid signs of weakness in its economic recovery, with Japanese automakers suffering more declines, an industry group reported Sunday.

Sales growth decelerated to 9 percent over the same time last year from April’s 13 percent, according to the China Association of Automobile Manufacturers.

China is the biggest auto market by number of vehicles sold and competition is intensifying as global and Chinese manufacturers roll out models targeting its increasingly prosperous drivers.

Sales growth has slowed amid mixed signals about whether China’s shaky economic recovery is gaining traction.

May sales of cars, SUVs and minivans totaled 1.4 million, according to the CAAM. Total vehicle sales including trucks and buses rose 9.8 percent to 1.8 million units.

Sales of Japanese brands plunged last year as Beijing and Tokyo argued over ownership of a group of uninhabited islands in the East China Sea.

Staff/wire reports