Delphi files for bankruptcy

[cheese9988]

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.

 

[posol]

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.

 

[brc80]

Quoted post[/post]]
Unions. Unions have ruined the american economy.

Turest thing you've ever said.

 

[cheese9988]

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.

 

[posol]

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.

 

[brc80]

Quoted post[/post]]
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.

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.

 

[reckedracing]

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.

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

 

[Battle Pope]

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.