The huge Delphi Bankruptcy may become a model
for all other "legacy" American companies that are "stuck with" unions and defined benefit pensions...
Delphi's "final offer" to the UAW was a 65% pay and benefits cut...essentially making living wage industrial jobs into Mickey D's jobs OVERNIGHT!!
If the Delphi model is adopted by other big companies...CORPORATE BANKRUPTCIES "en masse" could ensue...
Why not Ford, GM,...or P&G, or GE?
Or, any of the other big LEGACY Corporations from the old PRE-FREE TRADE DAYS,...when a union and a living wage were considered "rights" by American workers...?
TODAY MIGHT BE A WATERSHED EVENT...THE DELPHI BANKRUPTCY IS NOT JUST ANOTHER BUSINESS NEWS STORY...IT COULD BE THE START OF CRUNCH TIME IN CORPORATE AMERICA, AND ON MAIN STREET AND WALL STREET...
EITHER WE LET INTERNATIONAL CAPITAL BANKRUPT THE US ECONOMY AND PAUPERIZE AMERICAN WORKERS...
OR WE DRAW A LINE IN THE SAND AND FIGHT...AND SAY WE ARE NOT CHINA! ...AND IF YOU WANT TO PLAY IN OUR MARKETS YOU MUST PAY A LIVING WAGE...
VERY LIKELY THIS "CRISIS" IN AMERICAN BUSINESS WILL CONTINUE--UNTIL THE FREE TRADE MONKEY IS RIPPED OFF OUR BACKS...
AND THE US KONGRESS FORGETS ABOUT THE IMPERIAL MILITARY BUDGET...AND STARTS THINKING LIKE EUROLAND AND PROTECTING IT'S WORKERS AND IT'S MARKETS... ASAP.
NATIONAL HEALTH CARE AND INSURANCE REFORM WOULD BE A GOOD PLACE TO START...
IT MIGHT GIVE THE "LEGACY" COMPANIES SOME BREATHING ROOM VIS-A-VIS THEIR SOCIALIST AND COMMUNIST "COMPETITORS" WHO ARE EATING THEIR LUNCH EVERYDAY IN THE MARKET PLACE.
Could this be the "Oracle of Delph" marking the end of American Industrial power?
