Tuesday, October 11, 2005

What's Wrong With This Country

Delphi is the biggest automotive supplier in the country. They mainly sell to GM.

Delphi was (apparently) mismanged to the point of bankruptcy. So, what is their genius plan to reorganize?

Offer bonuses to the exeuctives, and stick it to hourly workers.

That's right. They are offering executives cash and up to 10% stake in the company as incentive to stay. The same executives that bankrupted the company. Meanwhile, they are looking for massive consessions from the hourly workers, probably in the form of wage or benefit reductions.

What a country.

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