October 10, 2005

Delphi's bankrupt.

No suprise here, but definitely not good news for Michigan's already scarily weak economy:

Free Press

Free Press

Detroit News

Detroit News

Detroit News

Posted by Jane
Comments

Might be time to get a new client!

Posted by: Steph C at October 11, 2005 08:34 AM

Union protection won't last for the autos the way things are going and the joys of globalization won't be felt just in Michigan either. According to Craig Fitzgerald (partner and auto analyst at Southfield-based Plante & Moran LLP) in Crain's Business Detroit Oct.10-16, 2005:

"If major concessions are granted by the UAW, if there are major reductions in wage rates or fringe benefits costs due to to bankruptcy or to concessions, those will ripple into other unionized automotive agreements in the country... It will result in concessions being granted elsewere as well."

Posted by: Dagny at October 11, 2005 03:06 PM
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