UAW rattles saber at Delphi

By From money.cnn| Mar 29 2007
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United Auto Workers President Ron Gettelfinger said Tuesday the union was through negotiating with bankrupt auto parts maker Delphi Corp. and would strike if the company voids its labor contract.

"If they void the contract, we are going to shut them down," Gettelfinger told reporters on the sidelines of the Special Convention of Collective Bargaining in Detroit.

"We are very disappointed in the actions of the corporation," Gettelfinger said. "They wore us down. Time is up on that one."

"The ball is in their court," he said. "There are no talks right now."

UAW boss won't close door on more concessions
Delphi, which filed for bankruptcy protection in October 2005, plans to cut thousands of hourly and salaried jobs and to exit several businesses to reorganize its operations.

Thousands of U.S. hourly workers left Delphi last year under buyouts and early retirements negotiated between Delphi and its unions.

Delphi spokesman Lindsey Williams said the company was still aiming to reach agreements with its unions.

"We are in active discussions with the UAW and these discussions include not only Delphi, but our plan investors and General Motors," Williams said.

An investor group led by Cerberus Capital Management LP and Appaloosa Management LP has proposed a $3.4 billion investment to support Delphi's emergence from bankruptcy, contingent on the company reaching deals with its unions and former parent General Motors Corp (Charts).

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