The great waiting game is on in the pundit's pit, as we all scramble to see how the Delphi bankruptcy will play out for GM. While the general consensus is that the automaker will have to wrest large concessions from the UAW to fight its way back from the brink, as its choking under the weight of its own labor obligations, some analysts see GM's allowance of Delphi to sink so low to be a bargaining chip in its own battle with the unions; basically they're waiting to see what concessions bankruptcy court can force the UAW to swallow and then try to make the union take a similar package. It's sort of like that massive game of chicken at the end of Smokey and the Bandit 2. The question is, who's driving the police cars and who's driving the tractor-trailer rigs? We're hurrying up and waiting, already.
Delphi: A Helluva Bargaining Chip [BusinessWeek]
Between the Lines: The UAW's Official Response to Delphi's Bankruptcy Filing [Internal]