Delphi

[TKpervert]

Anybody besides me a little worried about Delphi's bankruptcy filing ?
If they survive the re-structure, their UAW employees (U.S., 22,000?) might be taking a 60 percent pay cut ( at least the ones that still have a job after heavy layoffs ). Plus fewer benefits.
Folks, that's going from $56K a year to $22K a year. Hard to imagine living on 22K with 56K worth of kids and mortgage.

It looks like the time has come for unions to pay the Piper.

 

[amk714]

It's yet another example of corporate mismanagement. The workers have to take massive pay cuts, but a day before Delphi filed for bankruptcy, it increased severance packages for 21 top executives, citing a need to make them more "competitive" 😡 http://americablog.blogspot.com/archives/2005_10_01_americablog_archive.html
(Use the find command in your browser and search for delphi to read both articles, which contain more links.)