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Workers could escape Delphi's woes by retiring on GM's dime.(General Motors Corp.)
Crain's Detroit Business, October, 2005 by Barkholz, David
Byline: David Barkholz Crain News Service Most of Delphi Corp.'s United Auto Workers employees may end up earning more by going fishing than by working for Steve Miller's cut-rate wages. How? Thousands of them will get up to seven years' additional seniority under an obscure provision in the UAW's 1999 spinoff agreement with Delphi.
That could allow the workers to retire early - at General Motors Corp.'s expense. The provision, which takes effect if Delphi scraps its pension plan, could ease the pain for the most senior of Delphi's 25,000 UAW employees. It also could help grease Delphi's tense negotiations with the UAW to slash wages and close plants. Delphi's workers could continue to work for the $9.50-an-hour wage that Delphi CEO Steve Miller has...
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