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Old 10-18-2005, 11:29 PM   #16
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the economy might even get worse. general motors is a big thing in the american economy i think. it going into bankruptcy and what not would really give bad news to investors for a bit
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Old 10-19-2005, 08:10 AM   #17
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GM going bankrupt would actually help the automaker reorganize as it would be able to cut costs--The unions are what is hurting them right now
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Old 10-19-2005, 06:40 PM   #18
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The last thing,next to threw the roof gas prices,the auto industry wants is for GM to go under. Think of how many people they employ,and then think of how many people's employment indirectly depend on GM products....Thats a lot of people..
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Old 10-19-2005, 07:42 PM   #19
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Originally Posted by Satradioman
The last thing,next to threw the roof gas prices,the auto industry wants is for GM to go under. Think of how many people they employ,and then think of how many people's employment indirectly depend on GM products....Thats a lot of people..
GM would decare banktruptcy long before they went under
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Old 10-19-2005, 08:08 PM   #20
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Maybe the same effect though..Many people don't want to buy their cars from a company that may not be around in a few years. Kind of makes the warrenty useless.
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Old 10-29-2005, 10:32 AM   #21
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Quote:
Originally Posted by Satradioman
Maybe the same effect though..Many people don't want to buy their cars from a company that may not be around in a few years. Kind of makes the warrenty useless.
Or on strike.. That's what I meant by the biggest part of it...Would you like to have your pay cut like Delphi wants to cut their workers pay??


http://home.peoplepc.com/psp/newssto...1028-862293482


Friday, October 28, 2005
WASHINGTON - Delphi Corp. Chairman and CEO Robert S. "Steve" Miller said Friday that the company's proposal to cut some workers' pay by more than 60 percent was not intended to provoke a strike and he remains confident a deal can be reached in the coming months.

Miller, meeting with reporters in Washington, said workers for the country's largest auto supplier "understand that no good can come from a strike."

"We hope to arrive at an equitable settlement without court-authorized rejection of the labor contracts. Rejection results in a free-for-all wherein management can impose contract modifications, and the union is free to strike. Nobody wants to end up there."

Miller said he had seen no indications of work slowdowns at American plants since the company's bankruptcy filing earlier this month, but he recognized that many workers are upset with him personally.

"They're very angry with me. You ought to see the e-mails I get ripping my hide," Miller said.

He said "not all my plants are going to survive this," but no decisions have been made on any of the facilities.

Addressing the company's pensions, Miller rejected speculation that the bankruptcy proceedings would automatically lead to the termination of the plans. Delphi has about a $5 billion shortfall in the plan.

"We have made no decision to terminate our pension plans. The big question will be whether we can formulate a plan of reorganization over the next few months," he said.

Pointing to the need for reforms, Miller suggested Congress should tighten federal rules requiring that all plans be targeted at 100 percent funding while giving the federal Pension Benefit Guaranty Corporation more flexibility.

"Right now, the PBGC has only the `nuclear option' of plan termination, which they use sparingly and only when all is lost," he said.

Miller met with reporters to discuss his company's attempts to emerge from bankruptcy protection and reach an agreement with its labor unions. Delphi, a former General Motors Corp. subsidiary, wants the United Auto Workers to accept pay cuts of more than 60 percent for hourly workers and give up health and pension benefits.

Under the proposal, the Troy, Mich.-based company would cut base wages to between $9.50 and $10.50 an hour for production workers and $19 for skilled trades workers. New production workers would start at a base rate of $9 an hour. Delphi hourly workers currently earn $27 an hour or more.

The proposal would also freeze Delphi's pension plan and accept no new participants after Jan. 1. Delphi also could reduce retiree benefits or terminate the pension plan, and hourly workers would be asked to pay health care deductibles for the first time.

The UAW, which represents most of Delphi's approximately 34,000 U.S. hourly workers, has said the plan "displays a total lack of concern" for workers. A message was left Friday with a union spokesman.

Todd Jordan, 28, who works at a Delphi plant in Kokomo, Ind., said many of his colleagues still view a strike as possible given the proposal.

"What do we have to lose at $10 an hour? I think he is provoking a strike," Jordan said.

Miller said he was trying to "soften the rhetoric" he's offered since the company declared bankruptcy, acknowledging that workers are angry with him. But he said he was "very proud" of them and regularly answers 25 e-mails from employees each night.

"I lie awake nights worrying about their welfare. They don't deserve this," Miller said.

A bankruptcy court judge Thursday approved a $2 billion financing plan for Delphi, allowing the company to pay everyday expenses such as employee salaries.

---

On the Net:

Delphi Corp.: http://www.delphi.com
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Old 11-07-2005, 08:17 AM   #22
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Default Delphi Employees Discussing Strategy

Quote from below

People who attended Sunday's meeting said there was talk about striking or pushing for a "work to rule" slowdown. That would mean employees would perform no duties beyond the rules of the workplace, often spelled out in labor contracts, to reduce production.

End Quote



By JAMES PRICHARD, AP Business Writer
Sun Nov 6, 7:54 PM ET



COMSTOCK PARK, Mich. - Facing the possibility of deep wage concessions and job cuts, unionized workers at Delphi Corp. met Sunday to exchange information and discuss strategy.

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Hourly employees of other companies in the automotive industry also attended the meeting to show their support for Delphi workers and voice concerns that they may soon find themselves in the same position.

"Anybody with any intelligence realizes we are next," said Paul Baxter, 52, a 27-year employee of General Motors Corp. who works at the automaker's Flint Metal Plant. "Whatever they can get out of Delphi's workers, they're going to try to extract from us."

The UAW represents most of Delphi's approximately 34,000 U.S. hourly workers, but did not authorize the meeting in the Grand Rapids suburb of Comstock Park.

Rather, it was a grass-roots effort organized by members of the rank and file who say they are concerned about a lack of information from their international union.

Reporters were not allowed into the meeting at the UAW Local 1231 union hall but afterward spoke with several attendees, including Tom Vis, a 32-year Delphi employee who described the meeting's atmosphere as "apprehensive."

He said union workers know what Robert S. "Steve" Miller, Delphi's chairman and chief executive, is seeking but has not heard what the UAW is countering with.

The Troy-based company filed for Chapter 11 bankruptcy protection Oct. 8 after failing to reach a restructuring agreement with the UAW and GM, its former parent company.

Delphi is GM's former parts division. The automaker bought $14 billion in parts from Delphi last year, or around 16 percent of its total parts spending.

Delphi wants its union workers to accept pay cuts of more than 60 percent, a proposal that elicited an angry response from the UAW and other labor unions. The company's hourly workers receive an average wage of $27 per hour. It's asking the union to accept pay cuts to a range of $9.50 to $10.50 per hour for production workers and $19 per hour for skilled-trades workers.

The parts maker also seeks to freeze its pension plan and accept no new participants after Jan. 1. It wants to reduce retiree benefits or terminate the pension plan.

Delphi also wants hourly workers to pay health care deductibles of $900 per individual and $1,800 per family.

People who attended Sunday's meeting said there was talk about striking or pushing for a "work to rule" slowdown. That would mean employees would perform no duties beyond the rules of the workplace, often spelled out in labor contracts, to reduce production.

"I think this is just the beginning of what's to come," said Janice Waller, 55, a third-shift production employee at the Wyoming plant, who began working for GM in 1985 before it spun off Delphi in 1999.

___

On the Net:

Delphi Corp.: http://www.delphi.com

UAW: http://www.uaw.org/

http://news.yahoo.com/s/ap/20051107/...NlYwMlJVRPUCUl
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