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IN BRIEF / AUTOS

Delphi, Unions Granted More Time to Negotiate

September 30, 2006|From Bloomberg News

Delphi Corp., the largest auto-parts maker to file for bankruptcy protection, said a judge had agreed to delay hearings over its bid to scrap labor contracts and slash wages, giving the company more time to negotiate with its unions.

The Troy, Mich.-based parts maker and its unions are now scheduled to return to court for a status hearing Oct. 19. U.S. Bankruptcy Judge Robert Drain moved a deadline for a court decision to Nov. 30 from Oct. 21.

The delay is good news for General Motors Corp., which depends on Delphi for parts. The United Auto Workers union has threatened to strike if Delphi follows through on its plans to impose a new contract and cut wages to as low as $12.50 an hour from $27, potentially shutting production at GM.

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