Dipac

The Nortel pensioner group have asked us to join with them in a “Contact Your Federal MP” campaign protesting their situation. This involves writing letters to Prime Minister Harper, and Finance Minister Flaherty, with a copy to your federal MP. An “official” letter, with DIPAC letterhead, has already been sent in support of this effort.

You are no doubt fully aware of the distressing situation faced by Nortel pensioners as a result of Nortel’s re-structuring under CCAA provisions. The company is destined to disappear as its various business segments are sold off in an effort to satisfy creditors. All of this is taking place while Nortel sponsored pension plans are seriously under-funded, and in an environment where such under-funding has ‘lowest priority’ status opposite the proceeds from the sale of the business segments.

In this situation, applicable legislation is within federal jurisdiction and covers the Companies’ Creditors Arrangement Act (CCAA) and Bankruptcy and Insolvency Act (BIA). This current legislation is such that all of these developments are legal notwithstanding that they cause a serious injustice. To add insult to injury, they occur coincident with a number of senior Nortel executive being rewarded with exorbitant bonuses for their impressive performance.

The message is simple. Legislation as it currently exists in this situation is unacceptable to the electorate. It caters to the business world on the premise that businesses create jobs, wealth, etc. While this may have some validity, It ignores the concept that businesses should be socially responsible, and pensioners not be victimized. It also ignores the fact that businesses have no vote, but pensioners do, and we have long memories.

While we, as a pensioner group, are not currently facing similar circumstances, such a situation could develop. Thus participating in this Nortel pensioner campaign is in our interest. Providing feedback to our elected representatives, regarding their responsibility to amend legislation which is sadly defective, is very appropriate.

A draft ‘prototype’ letter is available via the following link, for use as is, or modified as you feel appropriate. Just click…..

……… Letter Prototype………

DIPAC, and Nortel pensioners and employees, thank you for your effort in support of needed changes in legislation. A bcc of your letter, sent via the Contact Us link at the bottom of our web site Home Page, will help us assess overall participation in this campaign. No records of the names of participants are retained.

PS………on 9^th December the Ontario government tabled its initial response to the OECP recommendations. Once we have assessed this Bill a further letter campaign may be warranted.