Wednesday, May 24, 2006

Federal Judge Denies GM Request to Delay Delphi Hearing

May 24, 2006

Satellite Standard Group is keeping you informed.

General Motors had requested from a Federal Bankruptcy Judge that the hearing regarding Delphi's request to void labor contracts be postponed.

The Federal Judge denied GM's request.

Delphi is a major contributor to GM production, and the unions have already voted to authorize a strike if one was needed. A strike by Delphi workers could impact GM production substantially.

SSG is of the opinion that a strike is unlikely, and that last minute negotiations and concessions by the unions will happen. In our opinion the judge is very likely to void the current contracts, and that the unions are well aware of this.

XM Satellite Radio is the exclusive satellite radio partner of GM.

You can read the whole story HERE via AP