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Delphi files for bankruptcy

Discussion in 'Members' Lounge' started by cheese9988, Oct 9, 2005.

  1. cheese9988

    cheese9988 Senior Member VIP

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    Don't know if anyone cares, I work up at one of thier locations as an outside contractor, not for Delphi themselves. They blamed bankruptcy on high production costs, thier inability to sell to other vendors, the labor unions average pay of $27 per hour, pension plans, job banks and medical costs. A job bank is basically a length of time where you have lost your job but you are still paid for it, and you are the first person on the list to go back to work when needed, unless the term is up. It will be the largest bankruptcy in automotive history.
    To pull themselves out of it, they want to cut union wages, some benefits including the job bank, and make GM take some of the burdon.
    Yahoo
    Just wanted to see what everyone thought of it.
     
  2. pissedoffsol

    pissedoffsol RETIRED

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    yeah, cuz GM can afford to take some of the burden when they are just about bankrupt too.

    Unions. Unions have ruined the american economy.
     
  3. brc80

    brc80 Senior Member

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    Turest thing you've ever said.
     
  4. cheese9988

    cheese9988 Senior Member VIP

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    I don't think they initially runied the economy, they gave us great things like a safe workplace, seniority benefits, competitive wages, etc. Its just now I think they took a little too much of the pie, and with the pensions that the auto businesses have to pay them when they retire is a huge blow. Thier average wages according to one of those sites, is almost double the national average for the jobs they do.
     
  5. pissedoffsol

    pissedoffsol RETIRED

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    pensions for gm are rediculous. my grandfather worked for new departure for 40 something years. he's 82 now, and STILL takes home 80% of his retiring salary from when he retired at 62.
     
  6. brc80

    brc80 Senior Member

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    Thats makes a great point. Because of those pensions, cars cost more then they should. Trust me Gm is not taking that loss out of there profit, they just pass it on to us.
     
  7. reckedracing

    reckedracing TTIWWOP VIP

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    that money, in theory, should come from the pension funds which should have grown since inception...
     
  8. Battle Pope

    Battle Pope New Member

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    If GM somehow manages to rein in the unions, they might actually be able to increase quality enough to bring their cars out of the shitter, and revive the camaro and firebird that everyone was so pissedoff that they cancelled, and maybe, just maybe, get the corvette down to a competitive price range.

    I've said it before and I'll say it again: Unions are killing american companies.
     
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