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



Sad to say, but I can't wait for GM to cease operations period.

Yes it will be bad for a time, but in the ashes we will have a chance
for some new thinking when it comes to vehicle technology and making
vehicles that can use sustainable energy, and the less politically
involved corporations the better we consumers are.




-Joe





--- In DMCForum@xxxxxxxxxxxxxxx, "timnagin" <timnagin@xxxx> wrote:
>
> 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@xxxx
> 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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