"Staggering Blow" - Delphi bankruptcy - 11 article flood in Detroit News

[Bozita]

The entire front page is nothing but Delphi. None of it is good news.

Each item below the link is an article:
http://www.detnews.com/index.htm

 Delphi's bankruptcy ominous sign for fading auto industry

 Daniel Howes: Watershed moment sealed with call

 Shell-shocked workers fear for future

Q&A: What this means for Michigan

 Delphi CEO 'Steve' Miller has built a career on corporate rescue

Workers' pension plan at risk

Move could unhinge suppliers

GM depends on smooth reorganization | UAW's future: Givebacks or else

 GM comments | UAW comments | Timeline

Gov. Granholm's statement

 Delphi improved severance pay for senior executives as restructuring loomed

 Delphi workers: In light of the bankruptcy filing by Delphi, do you feel that you still have a future with the company?

[Dancing_Dave]

1. Governor Granholm tells it like it is!

Globalization is ravaging Michigan's manufacturing job base. Delphi's decision will undoubtedly have a ripple effect through Michigan's economy - an economy already reeling from outsourcing.

I am angry that this action occurs one day after headlines blared that Delphi employees were being asked to accept brutal, draconian pay cuts while upper management is being offered golden parachutes.

I am equally angry about the lack of support from Washington for the industries that made our country great. There is an apparent indifference in Washington to the human pain that so-called free trade has brought to average, patriotic, hardworking citizens who believe in keeping promises.

Moreover, the silence from the federal government is deafening. Washington negotiates these trade agreements and is not offering needed investment in either training our citizens or providing assistance with health care to allow both workers and businesses to be competitive.

If we as a nation can invest billions in infrastructure at home and around the globe, surely we can invest in the human infrastructure -- our American citizens -- whose middle class dreams and plans are being rapidly extinguished by race-to-the-bottom global competition. - Governor Jennifer M. Granholm.

[enid602]

3. investment

If we as a nation can invest hundreds of billions in an ill-conceived war, surely we can invest in basic industries. One point about globalization: those cheap cars coming from Eastern Europe and China could not have been built without MASSIVE investments on the part of their respective governments. It's not just about lower wages.

[Double T]

2. If I hear one more 'Financial Guru' try to tell me how wonderful........

our deficit economy is I'm going to throw the TV set out the window!!!!!The American consumer is drowning in credit card, home equity and personal loan debt; the Wall Street crew has been borrowing money at unrealistic interest rates; the enormous and every growing larger deficit and the national trade debt are at record levels. It is time to stop the BU-ll SH-it (aka BUSH) and start to put things back in working order. This country can not live like a bunch of drunken sailors on payday.

[Sadie5]

4. Gm is good at finger pointing

They rushed to file bankruptcy before the deadline. They are trying to screw the workers big time as they fatten the pockets of the CEOs. They want the workers to accept half their negotiated pay, yet they can afford to give the execs a big raise.

[Bluebear]

6. What deadline?

I thought the new bankruptcy code inolved tightening restrictions on individuals and not coroprations, did I miss something?

[Double T]

7. The Rich keep getting richer at EVERYONE else's expense.......

It getting close to time for a good old revolution; the way we were founded, the way we will take it back!!!!!!!

[cassiepriam]

5. It is about gross mismanagement and corporate corruption.

The american way.