The United Auto Workers (UAW) and Delphi are engaged in a steel cage death match in the bankruptcy courts.
Delphi, a sorry spin-off from General Motors, is trying to dump its’ union contracts. The overall Delphi bankruptcy and management plan looks something like this…
1) offshore 80% of blue collar jobs over a year or two
2) cut wages and benefits 50 – 60% for remaining workers
3) nothing for former shareholder
4) new shares for debt holders
5) massive bonuses for “bankruptcy management team”
6) GM to take back pension obligations, per spin-off agreement
So I get to thinking, if I am a UAW rank-and-file member I have a 100% probability of either job elimination or wage cuts to Wal-Mart levels, I can’t support a family so I will have to quit. Management appears to be dealing with a total lack of good faith.
The UAW still has some leverage until the offshoring is at least 50% or so complete.
So what to do?
We go on strike and destroy the company. What have I got to lose at this point?
So, does that make me?
a) evil, I should just get over it and move on, or
b) a hard-nosed capitalist just like the bankruptcy managers, or
c) a man in charge in the spirit of Trump, Welch, etc.
What do you think? What would you do? Is spite a worthy emotion?
**In honor of Wrestlemania, in Detroit this week.