A bankruptcy does not solve any business problem. It is an expensive process of buying time. It is my opinion that the court will grant Delphi as much time as it needs to resolve problems. |
I bet a lot they would do that. As in every basic problem-solving process, the most important ingredient is time. It is with time you are able to reach into the future and get answers to problems. |
I think it is a good move. At least there's one voice to be reckoned with, and when negotiation takes place it will be more effective. Rather than negotiating with one union and another union and another, they'll have one voice, so in that respect I think that's good. |
Miller has chosen, for whatever reason, to be the bell ringer for (concessions for) the next five years. He's been pretty outspoken. Auto executives have been dancing around this for a while, but they're not saying anything. They're sitting back and will reap the rewards. They sent the messenger and will reap the rewards. |
The wage earner in the state of Michigan is going to have a hard road for the next five-10 years regardless of whether they're an autoworker or not. The bottom line is the worker on the assembly line or in the parts department with two homes, a boat and kids in college, those times are coming to an end. |
This judge, believe me, does not want to go down in history as the judge who adjudicated the termination of the Delphi union contract and brought down General Motors. |
You aren't going to see any resolution from Delphi, GM or the unions without the hammer of a judge hanging over them. |