http://www.freep.com/article/20110930/BUSINESS0101/110930058/UAW-explains-why-GM-retirees-will-lose-Christmas-bonus?odyssey=mod%7Cnewswell%7Ctext%7CFRONTPAGE%7Cs

By Brent Snavely; Detroit Free Press ~ Sep 30, 2011 

The UAW posted a lengthy message to its retirees on Friday on its Facebook page explaining why it had to agree to eliminate a Christmas bonus for former General Motors workers in its new four year agreement. “This year we face the worst shortfall in our history of pension underfunding,” the UAW said in a statement. “Because of Wall Street’s continuing problems, the GM hourly pension fund is seriously underfunded with a $15 billion to $20 billion shortfall.”