Dear Mr. Flaherty and Mr. Clement

By Mark Evans | Published: December 21, 2009

A letter from the Nortel Retirees and former Employees Protection Canada to Minister of Finance Jim Flaherty and Industry Canada Minster Tony Clement:

A Christmas Tale – December 2009

Gentle Ministers Clement and Flaherty,

Christmas is a kind time, of ethical deeds, reconfirming our values and righting the wrongs inadvertently committed. This Christmas, Dear Ministers, take the time to immerse yourselves in a Scrooge moment of humanity and redemption. Remember the pensioners, widows, employees of bankrupt companies who are being wronged by bankruptcy laws that confiscate their money and security, and then dump them like vermin into dustbins.

When the Ghost of Christmas Past enters your Chamber, recall the honest contributions made to your country by Nortel pensioners and employees. Let your heart be softened by their committed energy and inventiveness. Let your intellect be stirred by the valuable patents, technology firsts and glory they brought us. Remember these good people got kicked into the gutter. Gentle Ministers, distinguish between the fat vulture funds circling overhead and ailing Tiny Tim, your average 73-year old pensioner who contributed 35 years and can no longer work to replace these deep losses. Remember too the frail widow, significantly older and unaware of the harm about to befall her.

Perhaps the Ghost of Christmas Present will also come to you. Alas, Dear Ministers, here we are in the 21st century, governed by Dickens-era bankruptcy laws that strip us of the societal rights Canadians have fought for, and which so enrich our country. Poor Canada. Pensioners not shopping for gifts or new rockers, not knowing when the medical benefits will be cut. Pensioners adding fewer dollars into that dear Christmas Kettle because they don’t know whether they’ll have enough to manage themselves. Noble Ministers, be compassionate. The turmoil of uncertainty and frustration is not easy for us either, nor for our spouses and families.

But wait! The Ghost of Christmas Future is taking shape. Hurry! Time is running out. Nortel’s major businesses are all sold and will be finalized early in the New Year. Fraser Papers and AbitibiBowater are gone. CanWest and others too. Sensible Ministers, 35, 45, 50 thousand additional pensioners and employees are now drawing on social programs and the number’s rising. Taxpayers are angry for having to foot a huge bill that these corporations could have easily paid had the bankruptcy law been changed. Tsk tsk, Dear Ministers. Another tiresome rally on the Hill of angry taxpayers and voters.

But hark! What’s this I see? Jan 25, 2010. Parliament returns. Our Dear, Gentle, Sensible, Noble Ministers have woken to remember that, yes, their party did endorse a Motion for pension fund priority in bankruptcy. And that clever, clever helpmeet, Layton, has already tabled a Bill. Oh joy! The amendment to the Bankruptcy and Insolvency Act is passed unanimously in the House and goes immediately to final reading. Pensioners, widows, terminated and disabled employees are spilling out of their nursing homes, casting their walkers and caution to the wind. They are shopping. Helping others. Paying taxes. Voting. They sleep better, knowing their government is listening, does care. Brilliant Ministers, you have achieved redemption and the electorate thunders your name. Majority! Majority! Majority!

Merry Christmas to all, and to all a good night

From the kind, gentle and worried pensioners of Canada

cc. The Right Honourable Stephen Harper, Prime Minister

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  • Caverly
    It is a travesty that so many people are so ill-informed. Employees who belonged to registered retirement pension plans were told that their pensions were safe - that is why the government said that they could only contribute a very very small amount into their RRSP's. The government and Nortel also said that employees could not opt out of the pension plan. We do not want a bail out. We merely want what we have been told for many many years that we are entitled to. The government changed the rules of the game - i.e. no severance, loss of disability payments and loss of pension payments and loss of survivors pension payments. If the executives can manage to give incredible salary increases in March - and then again in October (when the CEO and President's salary went from $386,000 to $l.6M) along with 71 other employees salaries being increased, then I believe that the severed, disabled, pensioners and survivors should be at least paid what they are owed. There are various things that have caused this situation and why the company chose to go into bankruptcy, but suffice it is to say, that morally, ethically and professionally, this is wrong. It is a sad day then the rich are getting richer on the backs of the poor getting poorer. Today, the rich are getting richer on the backs of the middle class also. Who makes the laws and who can break the laws without penalty? Why - of course the rich. Seems today that everybody has a price - some will sell their soul to become rich. Just remember - what comes around - goes around. Even Ernie Maydoff has found this out.
  • sadandmad
    Don't hold your breath... these heartless politicians are not there to represent us they are there to line their own pockets and ensure they have pensions when they retire from the trough. If they cared, we wouldn't have to beg and plead for them to do the right thing.
  • waiting123waiting
  • horace_grimswold
    Another open letter that can be filed under the "Lost Cause" department. Will the next one be titled "Dear John"????

    Will this help Mr. Flattery get re-elected?

    Will this help Mr. Harper win a majority?

    WIIFM?

    yawn
  • misterideal
    UNIONS are GREATEST thing ever and if someone were to ever say likewise they have only one agenda and that is management lining their own pockets.Unions have made the USA the richest country in the WORLD for nearly 100 years .The Workers are not the Problem when companies go under it's usually management with terrible forcasts.Unions prevent these malicious people who try anything to under cut their workers.A Union STRIKE would always bring bad press toward management and that would always get the publics attention.For those who have been offered jobs from the newly ExNortel businesses be very careful.Unions are GOOD for people and not BAD.Some may want to say likewise but look at the history. Canada England Germany the USA have had Unions for years and the workers are heathy and their pensions are carefully watched .Look at the Teachers Pension.Auto,Gov ,Canada post etc.We are richer today in North America because of Unions.AND THAT IS THE TRUTH.
  • disc64
    How can management take on risk with unions slowing them down? Honestly, don't you people realize that it's all the risk taking by executive management that has made this country great?

    Of course, not having a union exposes the rank and file to risk too - the rank and file can be left fending for themsevles on the streets - but surely that pales in comparison to the risk that executive management takes. And they feel your pain, really, so much so they wish they could share some of their bonus money with you. But somehow it just doesn't seem right to share money with somebody who won't fight for it.
  • less
    Unfortunately Jimmy Hoffa is unavailabe for comment, so I ask what effect might a (threat of) strike have had where you worked and when would the best (or worst for "them") time for one have been?

    Richardson had a number of contractors doing menial labor, and I expect they would've been the first to have been effected by one.
  • protosphere
    Pray for relief in:
    "The amendment to the Bankruptcy and Insolvency Act is passed unanimously in the House and goes immediately to final reading."
  • bankrupt_bob
    Like, they really give a sh*t?
  • felixmk
    Here is something to consider. Would you lend money at competitive rates to a company if the pensioners had first call on the assets? Probably not. So what happens to Canadian companies when they want to raise capital? They would either pay high "junk" rates or not be able to get funding. The real fix for this problem is to make pension funding more transparent and more current. How can companies fall years behind in their pension funding and no one even knows? Force companies and governments who offer juicy pensions to fund them properly and report status every 12 months.

    The current whining from Nortel pensioners to get their hands on the assets is simply a ploy to get a better payout or maybe a bailout from the government. Everyone knew the rules of the Canadian pension game going into this - the employees, pensioners, companies, creditors... Trying to change the rules because you are not getting what you want from bankruptcy is not right.
  • 4merEmployee22
    WHY DID NORTEL ( or other companies) INTRODUCED "PENSION BENEFIT" TO EMPLOYEES in the first place?
  • felixmk
    beats me...maybe they wanted to reward employees?
  • scalppeeler
    Excellent meaningful rant.
    Too bad it doesn't fall into the political mantra of concern in canuckistan.
    If it was wailing over how terrorists are detained in afghanistan by Iggy, or
    deciding how many more immigrants to bring in and grant them refugee payouts
    or welfare, or if it had something to do with more multicultural and special interest handouts or if it had something to down with hiring more bilingual postmasters where
    narry a frenchman ever sets foot then this would all get traction and attention.
    That's not the case.
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