Delphi Demands UAW Contract Before Dec; GM Comme

[Guest Josh]

This just into C&G: Delphi is now in front of the Bankruptcy board and has made it their very first mention and note that they want new contract negotiations with the UAW to happen starting next week, with a new agreement coming to pass before the end of '06. General Motors would not say much, except Mr. Lutz stating that General Motors plans to produce 85% of their content in North America, however General Motors as a company were not the ones to mandate that, giving heavy speculation that it is the Unions job to meet wage concessions with the worlds #1 automaker. More into C&G as we get it!

[Ghost Dog]

Thought i'd throw this in here as well as the other thread.

Well,well,well. No greed, eh?
http://www.uaw.org/delphi/delphiupdate.cfm?duId=4

Delphi’s decision to sweeten the severance packages for its 21 top executives – and the more recent announcement that it planned to offer up to 10% of the equity in the reorganized company and nearly $90 million in cash bonuses to just under 500 key executives

90 million. Hmm you could employ 2,600 people at 17.00 an hour.

90 MILLION IN GREED

[motownr]

Thought i'd throw this in here as well as the other thread.

Well,well,well. No greed, eh?
http://www.uaw.org/delphi/delphiupdate.cfm?duId=4
90 million. Hmm you could employ 2,600 people at 17.00 an hour.

90 MILLION IN GREED

[post="27281"]<{POST_SNAPBACK}>[/post]

Perhaps, but irrelevant, with all due respect.

I understand the resentment this move has caused among the rank and file, but I think it's perfectly acceptable despite the unfortunate timing.

Providing a mechanism to retain key personnel from defecting is part of any turnaround situation. Miller's an old and incredibly experienced hand at this, and knows exactly what he's doing. To those who object based on the fact that some jobs are being insured against loss while others are not, get over it.

What hasn't been widely reported is that this same group of executives will own something like 10% of the post-bankruptcy corporation. That's where the BIG cash is. Think millions of dollars per executive, on average. Again, all part of how the process works. The guys brought in to fix things get paid very well for doing their jobs.

[Ghost Dog]

[razoredge]

I think it's perfectly acceptable despite the unfortunate timing.

Providing a mechanism to retain key personnel from defecting is part of any turnaround situation.  Miller's an old and incredibly experienced hand at this, and knows exactly what he's doing.  To those who object based on the fact that some jobs are being insured against loss while others are not, get over it. 

What hasn't been widely reported is that this same group of executives will own something like 10% of the post-bankruptcy corporation.  That's where the BIG cash is.  Think millions of dollars per executive, on average.  Again, all part of how the process works.  The guys brought in to fix things get paid very well for doing their jobs.

[post="27289"]<{POST_SNAPBACK}>[/post]

Then they dont need severence or even salary today. They are making an investment. What do they think this is some kind of welfare system ? :rolleyes:

If they were any kind of workers they would be in there just for doing a better job and in the interest of their companies, because without thses companies they would not have a job. :blink:

Get over it ! :lol:

[Newbiewar]

[post="27406"][/post]

let em strike... replace them indefinatly...

THere is a point in which the Union doesnt represent the employees to its fullest... and that point is now, the point in which they could be without a job... Edited October 12, 2005 by Newbiewar

[RJB]

More lewding, and people lining their pockets at the top while everyone else gets flushed down the toilet.

[Ghost Dog]

http://www.detnews.com/2005/autosinsider/0.../A01-346329.htm

If a deal hasn't been reached by Dec. 16, Delphi can ask the court for permission to void contracts with its unions, including the United Auto Workers. The news came as Lockport, N.Y., UAW Local 686 warned workers Tuesday to prepare for the possibility of strike if contracts were canceled.

Local 686 official Rex Tobey said Tuesday the flier had been sent out to members at the plant, where Delphi employs more than 4,000 people. It's the first time UAW officials have publicly warned of a strike at Delphi.

I don't know what Delphi can be thinking. They know the Union won't lie down. Shutdown is certain.

• Delphi's pension plan is underfunded by $10.8 billion, the federal agency that insures pension plans said Tuesday. The amount takes into account any assets the company already has in the plan, said Pension Benefit Guaranty Corp. spokesman Jeffrey Speicher. Delphi could shift some of its pension obligations to the PBGC as part of its restructuring. But the PBGC would insure no more than $4.1 billion, or less than half the total necessary to meet Delphi's obligations to retirees. GM, Delphi's former parent, could be liable for some of Delphi's retirement benefits under a 1999 separation pact.

And thats criminal. Edited October 12, 2005 by Ghost Dog

[cmattson]

Providing a mechanism to retain key personnel from defecting is part of any turnaround situation

What makes you so convinced that these personnel are so worth retaining? They were all on-staff when the company filed for bankruptcy -- so they mustn't be all that great..

[Jazzhead]

This is a prelude to the inevitable at GM and Ford. The UAW needs to quickly reopen negotiations and strike a deal - wage and benefit concessions in exchange for job security. This is the real deal - the tipping point has been reached and unless these manufacturers obtain cost certainty, they will simply weigh their other options and produce parts, and soon whole cars, from low-wage countries. The global economy is killing the future of the American worker. Government could help by slapping tariffs on the value of foreign labor in manufactured products, but consumers won't stand for it. The American worker is on his/her own - and the ostrich-like attitude of the UAW needs to change, and look out for the future of this business, rather than just protecting the old guys.

[Cremazie]

Perhaps, but irrelevant, with all due respect.

I understand the resentment this move has caused among the rank and file, but I think it's perfectly acceptable despite the unfortunate timing.

Providing a mechanism to retain key personnel from defecting is part of any turnaround situation.  Miller's an old and incredibly experienced hand at this, and knows exactly what he's doing.  To those who object based on the fact that some jobs are being insured against loss while others are not, get over it. 

What hasn't been widely reported is that this same group of executives will own something like 10% of the post-bankruptcy corporation.  That's where the BIG cash is.  Think millions of dollars per executive, on average.  Again, all part of how the process works.  The guys brought in to fix things get paid very well for doing their jobs.

[post="27289"]<{POST_SNAPBACK}>[/post]

It is not good bargining... Why should you ask someone who is just making ends meat to give up something while you are taking a greater chunk. The Management is who manages the company, they sign the deal and make the decisions that make a company go bankrupt. They seem expendable to me, just as expendable as the person who is putting parts in boxes!

[evok]

It is not good bargining... Why should you ask someone who is just making ends meat to give up something while you are taking a greater chunk. The Management is who manages the company, they sign the deal and make the decisions that make a company go bankrupt. They seem expendable to me, just as expendable as the person who is putting parts in boxes!

[post="27626"]<{POST_SNAPBACK}>[/post]

Nothing is black and white. Let us not forget that there are more people working at DPH than 45 + executives and UAW emplyees. There are thousands of mid-level white collar workers who nobody talks about. Employees who's retirement consits of a 401k where contributions are matched by DPH in stock. Stock that is trading at .35 cents. Employees who are on a differernt pay and benefit system that is not more lucrative than their UAW counterparts. Look at the big picture and not the not so key points that are written in the press. DPH was destined to fail from the beginning and within reason everything was done to save the company.

[samuel]

It is not good bargining... Why should you ask someone who is just making ends meat to give up something while you are taking a greater chunk. The Management is who manages the company, they sign the deal and make the decisions that make a company go bankrupt. They seem expendable to me, just as expendable as the person who is putting parts in boxes!

[post="27626"]<{POST_SNAPBACK}>[/post]

Nah, just about anybody can put a part in a box. Takes zero skill basically. Managing a behemoth corportation is a task only a rare few can handle, that's why they are worth the big bucks. There is a pretty good reason why people such as yourself or the line workers are not running things.

[KillFort]

There's been a lot of bullshit said on the boards recently but here's my piece based on this quote:

The global economy is killing the future of the American worker. Government could help by slapping tariffs on the value of foreign labor in manufactured products, but consumers won't stand for it. The American worker is on his/her own - and the ostrich-like attitude of the UAW needs to change, and look out for the future of this business, rather than just protecting the old guys.

Ok, that just shows the ignorance of the American consumer. If there are no American workers with well paying jobs, they won't consume, thus there will be no American consumers. We will be 3rd world and everyone seems happy with this anti-union rhetoric rather than marching on Washington to protect this country's standard of living.

Secondly, everyone says "It's so easy to be an assembly worker, anyone can do it." Bullshit it is!! Most of the people who say this have never tried car assembly work and are most likely some sniveling little finance person making 10 dollars an hour for easy ass data entry with their biggest complaint that Microsoft Excel keeps crashing.

As a Michigan State University grad in Mechanical Engineering, I can honestly say those workers deserve every penny they get. I worked at Oldsmobile assembling Aleros and Grand Ams for two summers before moving on to get nicer internships with large corporations. I have been on both sides of the fence and most of you who bash auto workers are misinformed and even more uneducated than that of the auto workers who you so jealously bash.

Most auto workers are proud of the work they do, assembling the vehicle to the best possible standards put in place by management and engineering.

How many of these CEO's and executives are proud of approving the Aztek and Cimmaron? Hell, it's not the assembly workers fault of the crap-box Cavalier of yesteryear. Thank these glorious educated executives that we can drive around in our Cobalts now! Only took them 20 years to give the Union workers a nice small car to assemble so let's just make it easy on ourselves and bash the Union for that too. Edited October 12, 2005 by KillFort