Other Editorials

The Scam

Gregg Shotwell
Thursday, January 5, 2006

GM/Delphi Greed Affects Everyone

Corporate Greed not Necessity drives GM/Delphi's planned attack on workers and our communities.

Delphi was a healthy, debt free corporation in 1999 after they were spun off from General Motors. The pension was fully funded. Delphi had no retirees. Six years later Delphi is broke. They drained the pension fund and the stock is worthless.

Delphi's failure is not the fault of workers, it is the fault of overpaid, incompetent frauds. GM/Delphi planned the bankruptcy in order to break the contract and dump their responsibility to retirees onto American taxpayers. If the court sanctions this scam, other multinational corporations will follow suit. Delphi is the test case.

Delphi invested profits from US operations (our legacy) overseas, and divested in the US in order to undermine our competitiveness. Now they claim they can't afford the "legacy cost." Workers are not waste material that can be disposed of without concern. We are human beings, we are American citizens, we are the backbone of the economy. Accrued, vested, retirement benefits earned by honest work are not the private property of GM/Delphi executives. The pension fund belongs to us. GM/Delphi must be held accountable to the court of law and public opinion.

Delphi executives want to line their own pockets with extravagant bonuses as reward for mismanagement and fraud.

Corporations are determined to pursue lower nonunion wages in this country and ship jobs overseas. We are determined to fight this ruthless plan to degrade workers and defraud taxpayers. American citizens should not be forced to pay corporate welfare so GM/Delphi can export jobs overseas and import cars and products back to the US tax free.

When GM/Delphi is done with their attack on us who will be next?!!

Support Delphi Workers
Stop the Wage Cuts
Preserve Pensions

Universal Health Care for All Citizens is the only viable social and economic solution to the health care crisis in America. Equal access to health care is a human right

Labor donated by: Soldiers of Solidarity