once there was a Miller

       cut  off we lubber's fee ......


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heard of turn around specialists ???

well heres a  take under  specialist  

  executioner
   embalmer 
and  zombee re animator  
all rolled into one  

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" The days when American manufacturing workers
 could expect high wages, 
long vacations, gold-plated health coverage
 and generous retirement pensions are over"

sez  Robert S. "Steve" Miller
 the chairman of Delphi Corp

 "He believes companies have made promises 
they can't keep, 
and he is blowing the whistle"

"bankruptcy protection 
 is the only option for getting Delphi
 out from under the burden 
of high wage, health care and pension costs"

 

Robert S. "Steve" Miller 
has seen industrial trouble before
 He headed Bethlehem Steel
 when it went bankrupt
 and was eventually sold"

 
 
 
"Miller called the workers
 honest, loyal, hardworking people
 who took jobs in the auto industry 
and "played by the rules" 
and "cannot be blamed for pursuing
 the American dream." 



"All of us have been caught short
 by fast-changing global economics,"
 "Our people are being severely impacted.
 I don't blame them for being frightened,
 uncertain and even angry."


"Miller was on the board of UAL Corp.
 when its United Airlines unit
 fell into bankruptcy".

 quite the typhoid mary eh ???


now at delphi.....

 
"In this  case, we ran out of money,"

two billion in the kitty 

tap city right ???

 "Now, we have stockholders; 
they've basically been wiped out by this.
 We have bond holders; 
they, in good faith, loaned money 
to this company,
 and now they're being told 
they may not get any back. 
We have a bankruptcy court system
 that is designed to sort out 
the pain among all the people
 who are expecting to recover from this."




"To rebuild Delphi, 
Miller's team  issued a new contract offer 
last week proposing that union workers 
accept wages of as little as $9.50 per hour"

  no deal by xmas....


"the bankruptcy court will intervene
 and
  decisions about pay and benefits,
 which have historically been worked
 out at collective bargaining tables, 
will be in the hands of a judge."

"Miller is also putting into play 
other hard-won union contract protections
 He wants more flexibility to outsource work 
 the ability to cut jobs 
when factories are idle
 that in an industry that can swing
 relatively quickly from boom to bust"

 "If the union contract is voided in court
, the unions have the option to strike
 which could cripple the industry"

Miller sez
" Delphi will be remade 
into a company that focuses less
 on low-end parts such as spark plugs
 and parts where "you can fit 1,000 in a box." 


"Those will be built 
in low-wage countries.
 And we're not talking 
         about whether 
we're going to pay em
    $30 or $10 an hour 
 they'll be  made for $2 an hour
 someplace 
     and shipped  everyplace -- period."