This just ain't right!!!!
Delphi Corp., the nation's largest manufacturer ever to file for bankruptcy, won approval Friday from a bankruptcy judge to offer sweetened severance packages to 21 top executives and to pay a law firm more than $800 an hour.
Approval came a week after Delphi asked its unionized workforce to accept wage reductions from $25-$27 an hour to $9.50-$10.50 an hour, along with higher out-of-pocket health care costs with no vision and dental insurance, frozen pensions, less vacation and restricted overtime.
The new agreement, which provides compensation in the event Delphi terminates an executive's employment without cause or if the exec quits for good reason, includes 18 months of salary and 18 months of bonuses, up from 12 months.
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