Wednesday, March 22, 2006

Will divorce end up destroying GM?


G.M. to Offer Buyout Deal to More Than 125,000 Workers

By MICHELINE MAYNARD and JEREMY W. PETERS (NY Times)

The United Automobile Workers and Delphi reached a historic (tentative) deal (subject to membership approval) today that would offer incentives of up to $140,000.
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Post divorce financial and health insurance obligations may determine the outcome of the buyout. Michigan has one of the most aggressive state child support collections in the nation. AG Mike Cox made his bones beating up non custodial parents. State gets huge subsidies to collect child support and jail delinquent payers. So for many auto workers the decision to accept the buyout won't be easy.

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