Word: delphi
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...Wagoner, the next 18 months will define his stewardship, if not GM's future. GM, Delphi and the U.A.W. are locked in a complex feud over how to restructure the partsmaker, whose fate is tied to the automaker's. GM has agreed to take back as many as 5,000 Delphi workers, and thousands more are being offered buyouts. But Delphi chief Robert (Steve) Miller has asked the bankruptcy court for permission to void labor contracts, which would allow him to slash wages if the unions won't concede--a move that could spark a strike. He also wants more...
...fact that Miller wants better terms for supply contracts with GM, while GM claims it pays too much already. The judge heard arguments over the labor contracts last week and is expected to rule this summer. GM CFO Fritz Henderson said, however, he expects to reach a settlement with Delphi and the U.A.W. within 60 days. GM, meanwhile, is stockpiling parts in case of a strike. "The consequences of our not addressing this effectively are big," says Wagoner. "Nobody wins with a long strike...
...Will the deal eliminate the threat of a strike against Delphi...
...Negotiators from the United Auto Workers seem to believe the most militant UAW members will opt for retirement rather than a confrontation over likely future wage cuts at Delphi, which is also covered under the buyout agreement. The buyouts give the union a little more room for bargaining on future concessions, says McAlinden. With the buyout agreement in place, representatives from the UAW and Delphi Corp. are slated to resume discussions on rewriting the bankrupt company's existing contract with the union. GM representatives also are expected to participate in the talks, suggesting that GM plans to keep a close...
...Murphy, the Merrill Lynch automotive analyst, said in a note to investors that a strike remains a very real threat as long there is no agreement on issues beyond the buyout proposal. Delphi chief executive Robert "Steve" Miller is pressing for more concessions and has said he will petition the court next week to set aside the company's existing labor contracts if there is no agreement with the UAW and other unions. Last fall, Miller briefly proposed cutting the wages of Delphi workers by 63%; the union has warned that a strike is possible if the court imposes...