UAW members support Delphi pact in early returns

(Reuters) - The UAW leadership is expected to release results on Friday
of the member vote of its numerous local units on the deal,
which includes wage and benefit cuts and eventual plant
closings that Delphi has said it must have in order to exit
bankruptcy.




The member vote is cumulative for the full 17,000 UAW
members at Delphi, but some local units disclosed results or at
least a broad indication of support on Thursday.


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Delphi Near Accord With Auto Workers to Emerge From Bankruptcy, People Say

(Bloomberg) -- Delphi Corp. and former parent
General Motors Corp. are close to an agreement with the United
Auto Workers union that would pave the way for the auto-parts
supplier to emerge from bankruptcy this year, people with
knowledge of the negotiations said.

UAW officials have summoned union plant leaders to Detroit
for a briefing today on the accord, which would provide Delphi
workers buyouts and job guarantees in exchange for plant
closings, the people said.


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Delphi labor deal expected as early as Wednesday: report

(Reuters) - Workers from several Delphi plants as well as people close to the talks said they expect a tentative agreement to offer cash payments, known as buy-downs, to workers in exchange for a lower hourly wage, the newspaper said.




Both Delphi and a UAW spokesman declined to comment.


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U.S. futures indicate steady-to-higher market open

(Reuters) - General Motors Corp. and bankrupt auto parts maker
Delphi Corp. are near a deal with the United Auto
Workers union that would provide a cash payout to Delphi workers
in exchange for lower hourly wages, the Detroit News reported.




By 0955 GMT, September Dow futures were up 0.1
percent, S&P futures were flat and Nasdaq futures
gained 0.2 percent.


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Delphi, GM near deal with UAW: report

(Reuters) - The proposal would offer 4,000 UAW workers an unspecified one-time lump sum cash payment in return for accepting lower wages that could range from $14 to $18 per hour. Workers could also take the lump sum and accept early retirement or flow back to GM, the Detroit News said, citing people familiar with the talks.




Delphi, GM and the UAW did not immediately return calls seeking comment.


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UPDATE 1-UAW says Delphi talks continue, no timeline

(Reuters) - MACKINAC ISLAND, Mich., May 31 - The United Auto
Workers union remains in talks with parts supplier Delphi Corp.
on the terms for a labor agreement that would allow
the company to emerge from bankruptcy, UAW President Ron
Gettelfinger said on Thursday.




Gettelfinger declined to say whether the two sides had
moved any closer after the UAW submitted a counter-proposal to
Delphi and its former parent, General Motors Corp.


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