Recession: Delphi Contract Offer Cuts Wages, Scraps Health Care

[milanbenes]

http://quote.bloomberg.com/apps/news...XSY&refer=home

"Oct. 26 (Bloomberg) -- Delphi Corp., the largest U.S. auto parts supplier, wants to cut workers' wages by as much two-thirds and eliminate health care for retirees as part of a plan to exit bankruptcy.

",

Milan.

[DimPrawn]

Doomed I tell ya.

[white-anglo-reactionary]

Dont' worry, be happy - every cloud has a silver lining...

It's not all bad news! The same company has announced that

"Under its proposed key employee compensation program, 486 U.S. executives would receive cash bonuses of 30 percent to 250 percent of their salary, totaling $87.9 million, upon Delphi's exit from bankruptcy or sale of the company. For example, President Rodney O'Neal would get a total cash bonus of $2.75 million, based on a $1.15 million average salary"

Excellent - I'd put my money on these guys - they sound like winners to me. They just need a little more incentivisation! Pure capitalism at it's very best.

[Joe Black]

white-anglo-reactionary, can you please change your nick. As a person of colour I take offence to the use of the word 'white' in your name...

Joe

[messiah]

Is it cos I iz Anlgo Saxon ?