06/01/2007

UAW chief goes after Delphi

Gettelfinger likens executives to 'swine'

By JOHN FLESHER

Associated Press Writer

Gettlefinger

MACKINAC ISLAND — United Auto Workers President Ron Gettelfinger fired a new volley of criticism Thursday at Delphi Corp., likening the auto supplier's executives to "swine dining at the trough” and giving no indication a new labor deal was imminent.

"I don't know that there is a timeline or a time frame,” Gettelfinger told reporters after speaking at the Detroit Regional Chamber's annual Mackinac Policy Conference.

He described the talks as "under way and ongoing” but wouldn't elaborate.

A week ago, analysts were pointing to signs of a possible contract agreement between the union and Delphi, the struggling auto parts maker formerly owned by General Motors Corp.

The UAW had countered the company's offer. GM had disclosed in a May 24 filing with the U.S. Securities and Exchange Commission that it had received proposals from Delphi and the UAW that "provide a basis for continuing productive negotiations.”

Several industry analysts said those were signs a settlement could be near after more than a year of tough bargaining in which Delphi sought lower labor costs to better match competitors.

But if that's the case, Gettelfinger offered no hint of it.

"It's sort of hard every time you turn around when they're getting obscene bonuses ... supposedly managing a company that they claim is in the ground,” he said. "That's created a lot of difficulty for our membership. But we are continuing to try to work through the problems.”

He accused Delphi Executive Chairman Robert S. Miller of destroying lives and communities and said Delphi executives wanted to abandon Michigan during its time of need.

Saying he'd been criticized for labeling Delphi leaders as "hogs slopping at the trough,” Gettelfinger said instead he'd call them "swine dining at the trough.”

Delphi spokesman Lindsey Williams would not respond directly to Gettelfinger's comments, saying only that the company continues its efforts to reach an agreement with unions, GM and Delphi investors.

"We remain committed to doing so with dignity and respect to the parties involved,” Williams said.

Also Thursday, investor Highland Capital Management LP disclosed in a regulatory filing that it had signed an agreement to keep Delphi financial information confidential, perhaps in order to join a group of equity investors that have signed on to pump as much as $3.4 billion into the auto parts maker to help it emerge from bankruptcy protection.

Highland, which is Delphi's second-largest shareholder and lost out on an earlier bid to become an equity investor, may be interested in replacing Cerberus Capital Management LP, which Delphi said wants to pull out of the equity group.

A message seeking comment was left for a Highland spokesman. Williams said a nondisclosure agreement filed with the U.S. Securities and Exchange Commission is a sign of Highland's interest.

Delphi disclosed in April that Cerberus wanted to pull out. The New York-based private equity firm would have invested up to $1.7 billion, joining with Appaloosa Management LP, Harbinger Capital Partners Master Fund I and other investors.