Wednesday, October 26, 2005

I Hope Their Homes Are Paid For

And they have no credit card debt, no kids, no medical issues and not planning on collecting retirement.
Delphi's demand: Take $9 an hour: "According to the proposal, Delphi wants new hires to accept wages as low as $9 an hour, compared with $14 an hour today. The company wants hourly workers making $25 to $27 an hour to accept wages between $9.50 and $10.50 an hour. Delphi also wants overtime to be accrued after working a full week, as opposed to a full day.

Moreover, Delphi wants to freeze its pension plan and said it does not want to accept new pension plan participants after Jan. 1.

Out-of-pocket costs for health care would increase to a maximum $5,000 a year for a family or $2,500 annually for an individual. That would compare to the $500 per family and $250 per person workers currently contribute to the company's traditional health care plan.

Additionally, vision and dental benefits would be eliminated. The company said it also would discontinue 'current health care options' but may offer other affordable plans in the future.

The new wages could put a strain on households dependent on a single breadwinner. At $9 per hour, some Delphi workers would make $18,720 a year under the new proposal. That's more than $600 below the federal poverty line for a family of four, according to the U.S. Department of Health and Human Services"
Yup, and pay for your own medical while living on a 65% pay cut as the credit card minimums double and your variable home loan rate keeps increasing as the cost to heat it becomes a rent payment in itself.

The American Dream. Not for everyone but poverty is always available when you least expect it. Watch us implode.

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