Workers could escape Delphi by retiring on Gm

[Ghost Dog]

http://www.crainsdetroit.com/cgi-bin/artic...articleId=28180

The impact could be dramatic, says Sean McAlinden, chief economist for the Center for Automotive Research in Ann Arbor. His prediction: “The rank-and-file are going to retire like a house afire.”


The contract provision allows workers who came to Delphi from GM to claim up to an additional seven years of seniority if Delphi cancels its pension plan, a distinct possibility now that the company is in Chapter 11 bankruptcy reorganization.


The provision was presciently negotiated by the UAW to protect former GM workers if Delphi were to founder. It would allow workers with 23 or more years of combined GM and Delphi seniority to retire with a GM pension.


At least half of Delphi’s 25,000 UAW workers already are eligible for retirement. The extra seven years of seniority provision would make thousands more eligible. The precise number isn’t clear.

Edited November 1, 2005 by Ghost Dog

[CaddyXLR-V]

I'm not surpised that our companies are dying. Things like this should never even be suggested, let alone actually becoming part of the contract. Work for 23 years, then get paid for 45 more? At $30, thats more like $90 an hour per hour worked in their life. Thats an easy way to kill a company.

[Ghost Dog]

I'm not surpised that our companies are dying. Things like this should never even be suggested, let alone actually becoming part of the contract. Work for 23 years, then get paid for 45 more? At $30, thats more like $90 an hour per hour worked in their life. Thats an easy way to kill a company.

[post="36898"]<{POST_SNAPBACK}>[/post]

R.I.P. People Before Profits ya know :)

[CaddyXLR-V]

R.I.P.  People  Before Profits  ya  know :)

[post="36899"]<{POST_SNAPBACK}>[/post]

People dont get anywhere without a job that pays them. Unless you want to farm your own food, drink from a river, catch your dinner, and have little of anything else in life, we need businesses. Who is going to pay the UAW worker kids when they are working age? Havent thought that far ahead? There wont be any jobs left by that time. But hey, at least we got as much money from GM as we could before it died. Once the last unionized sectors collapse from the weight of the unions, what union will their be? I just dont want GM to be dragged down with them.

[daves87rs]

People dont get anywhere without a job that pays them. Unless you want to farm your own food, drink from a river, catch your dinner, and have little of anything else in life, we need businesses. Who is going to pay the UAW worker kids when they are working age? Havent thought that far ahead? There wont be any jobs left by that time. But hey, at least we got as much money from GM as we could before it died. Once the last unionized sectors collapse from the weight of the unions, what union will their be? I just dont want GM to be dragged down with them.

[post="36992"]<{POST_SNAPBACK}>[/post]

True-but good companies need to find a way to do both...

[CaddyXLR-V]

True-but good companies need to find a way to do both...

[post="37006"]<{POST_SNAPBACK}>[/post]

Profits fuel innovation.

[Guest Josh]

Profits fuel innovation.

[post="37010"]<{POST_SNAPBACK}>[/post]

But more importantly..GREED. :AH-HA_wink:

[daves87rs]

But more importantly..GREED.  :AH-HA_wink:

[post="37484"]<{POST_SNAPBACK}>[/post]

Yep...

[CaddyXLR-V]

But more importantly..GREED.  :AH-HA_wink:

[post="37484"]<{POST_SNAPBACK}>[/post]

Well I dont agree with that either. I think the profits should be reinvested to grow the business, develop new technologies, etc. which in turn creates more profits, and the need for more workers. But without the profits, the only way to go is down.

[Delta Force79]

This is very upsetting to me, as I am a shareholder in Delphi stock....I'm hoping for the best, but only time will tell the outcome

[FUTURE_OF_GM]

R.I.P. People Before Profits ya know

And once you run out of profits, you run out of businesses and hence people don't matter all that much any more.

I'm not disagreeing... I just think moderation must be a factor.

[CaddyXLR-V]

And once you run out of profits, you run out of businesses and hence people don't matter all that much any more.

I'm not disagreeing... I just think moderation must be a factor.

[post="37671"]<{POST_SNAPBACK}>[/post]

Yes, without profits, there will be no businesses. With no businesses, there will be no jobs. We need a balance. Our companies losing billions a year is not balanced.