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Delphi announced Monday that it was
withdrawing its November 15 proposal to the unions, ”…in light of GM’s recent engagement and discussions
with the UAW…” Delphi’s press release stated that the November 15 offer was based
“solely on Delphi’s financial constraints” which seems to suggest that GM’s involvement will
sweeten the offer to the unions.
Saying that it is committed to reaching a consensual agreement with the
unions and General Motors, the company promised to defer filing a request with the bankruptcy court to cancel its labor
contracts until at least February 17.
[Source: Delphi]