GM Retirees Threaten Boycott

gm logo on wall ap photo1 GM Retirees Threaten BoycottWhen General Motors rolls out its “new” public stock offering the automakers’ salaried retirees say they’ll be left out in the cold. And now there’s talk of a boycott.

Angele Shaw, Communications Director of the G-M Retirees Association, says many of the 130-thousand GM retirees owned thousands of shares of the “old” GM stock which is now worthless.

The association represents the interests of the workers.

“We’re hoping that GM can see the wisdom of actually getting that retiree customer base back in place and treating these people with respect,” Shaw told WWJ’s Jayne Bower.

President of the GM Retiree Association, John Christie, has asked GM to include retirees when the new stock is rolled out, but there’s been no response

“They (retirees) feel that they have, in fact, been left in the dust. And there seems to be a movement starting to try to boycott GM purchases.”

As for a boycott.

“Those retirees, I think have a significant influence on the buying practices of themselves, their families, their friends and their acquaintances,” Christie said.

He was quick to add a boycott is a double-edged sword because the retirees want GM to succeed and continue to fund their pensions.

The actual public sale of General Motors stock is expected to happen sometime in the fall.

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  • Grove Sandrock

    As a stock holder in the “old GM” I lost thousands of dollars. I too will not be buying a GM product. When my 2004 Malibu no longer serves my needs, I will be buying a Ford. My Ford stock still has value.

  • Randy

    I am a salary GM retiree and after they took most of our perks away from us at the start of 2010 I will never buy their product again. Let the unions and the Obama voters buy their product thats who they seem to takecare of

  • John

    That’s it, I can’t take any more. If Salaried Retirees are left out of any IPO of the new stock I will also impose a boycott on all GM products and make sure that the many family members who buy GM products will also switch. GM has been making terrible business decisions and to cut off a large part of your base is ridiculous.

  • Tom

    It is hard to imagine that everything the retired salaried GM works did for GM to be treated the way they have. I refuse to ever buy a GM product again. I encourage my family to do the same. My daughter recently bought a Ford and another a Honda. How sad they have no more respect for the ones who really made GM. The ones who made the bad decisions are the ones who need to be kicked out, not the hard workers!!!!!!

  • Tony

    I agree with the 4 previous posts. I am a salaried GM retiree over the age of 74. I and my spouse lost ALL our medical, dental, vision, hearing and extended long term care along with a loss of $60k life insurance at the beginning of 2009.
    My next new vehicle, to replace my current 2005 Buick, may well be other than GM. Yes, I am concerned about my continued pension, but I have reached the end of my “loyalty” to GM products.
    I usually helped 4 to 6 relatives/friends buy a new GM each year,

    • Del Smith

      I am a 72 year old salaried retiree. My wife is disabled and doesn’t have any retirement income. When GM cancelled my $65,000 life insurance, I started looking for a replacement policy. The rates of course are astronomical. They have basically stolen money out of my Wife’s purse. I am very unhappy and will have to think real hard when I replace my 2008 vehicle.

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