The UAW has won a battle to secure a seat on Delphi's creditor committee, which will at least give the union the ability to keep up to speed on what's being discussed. The "ex-officio" position, however, does not give the UAW any voting power. This makes the UAW the largest unsecured creditor on the committee.

Oddly enough, the International Union of Electrical Workers already has a position on the committee despite being a significantly smaller creditor than the UAW, and GM - which could be liable for billions of dollars depending on how all of this plays out - doesn't even have the ability to listen in on the proceedings (if I were the General, I'd be screaming at the court right about now).

The importance of all this will quickly become clear if the committee proceeds with a court filing next month to void Delphi's labor contracts, as the UAW will now be able to hit the ground running.



From Our Partners

You May Like
Links by Zergnet
Share This Photo X