RE: [DMCForum] Re: Delphi files for Chapter 11 bankruptcy protection...DAMN

["timnagin" <timnagin@xxxxxxxxxxxxxx>]

The ramifications are definitely serious.  I have to wonder about any
company that places the executives above all other employees though.  By
doing so, did they not set themselves up for failure and thus deserve what
happens to them?  I don't mean the lower employees deserve this, just to be
clear.

I can not verify this as absolute but read that the lowly workers were
offered 63% of their current pay yet the executives were retaining their
full pay and bonuses, some of these bonuses were in the millions of dollars.
I can't help but wonder if those executives made the proper decisions for
the company or for their own bank accounts.

I bet all that happens is they restructure, move some of the operations
overseas and the executives keep collecting their paychecks.  One or two of
the top people may be investigated or something to keep the investors happy.
In the end the lowly worker will pay for it, as will we taxpayers.

When GM saw a sharp decline in income they laid off employees and cut back
on expenses.  When Henry Ford wanted to increase sales he doubled the
salaries of his employees so they could buy what they built.  GM has it all
backwards, and it looks like they haven't even yet figured out they need to
build exciting vehicles.  The only thing GM makes that I could even consider
buying is the Corvette.

I talked with a former vendor today about an incident with Ford.  Apparently
when Nasser was replaced the new guy canceled some of the "exciting"
developments Ford was working on.  They lost a contract worth about $55
million and had to dispose of about $7 million in inventory.  That company
is now gone.

Sad.

Greg




-----Original Message-----
From: DMCForum@xxxxxxxxxxxxxxx [mailto:DMCForum@xxxxxxxxxxxxxxx] On Behalf
Of beatlesra1@xxxxxxx
Sent: Tuesday, October 11, 2005 4:19 PM
To: DMCForum@xxxxxxxxxxxxxxx
Subject: Re: [DMCForum] Re: Delphi files for Chapter 11 bankruptcy
protection...DAMN

The Delphi bankruptcy is no joke and the ramifications are serious. A  line 
is being drawn in the sand and it will effect not only UAW workers, which
I'm 
not a part of, but all tier one and tier two suppliers whom supply parts  to

the big three and the transplant business ( Foreign Auto Makers ). UAW
workers 
are going to be forced to take huge concessions and it will be a domino  
effect. American companies regardless of what they manufacture will follow
this 
lead and slash wages and benefits, this will force companies where  it's 
workers don't make the huge bucks to cut wages and benefits, it's been  a
long time 
coming and now it's here. I have always been in huge envy of G. M  and Ford 
workers making big money and I worked my ass off making minimum wage  and I 
couldn't get in those places because I wasn't a family member, but this is
going 
to really effect us all. There are a lot of UAW retiree's who frequent  this

list that now are scared to death that they will lose there pensions  and
the 
possibility of that happening is very real. Do you know what  that will do
to 
the economy? Do you know what that will do to families? The  world is now 
waiting to see what happens with Delphi/ GM and then the shit will  really
start..I 
work for a tier two supplier and we have already been forced by  the Lear's,

the Delphi's to cut pricing and it will get worse. You think the  price of 
American automobiles will drop but don't count on it, besides with all  the
cuts 
that will be coming who could afford them? My first reaction was good,  let 
the guy making $27.00 an hour for sweeping the floor take a hit but if you  
really think about it, it's going to affect all of us. This is very, very
serious!
 
Chuck Darling
Vin# 6125

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