Hamish on Delphi
Question for Hamish
As I understand it the compensation for the average Delphi laborer, factoring in benefits, was $65/hour. Seems rather excessive for that work. Now the company is bankrupt (there are other factors, but that is a big contributer).
Many of its business partners are also in huge trouble. GM will never be able to afford its pension obligations, and its debt just got downgraded to junk. I've looked at the numbers on that company and its a Ch11 waiting to happen.
Is pushing for excessive compensation, especially in the form of medical and retirement benefits, not a bad move on these unions part.
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