By Jesse Russell

Delphi's costs are $4 billion too high. That's according to General Motors CEO Rick Wagoner during a question and answer period at a Sanford C. Bernstein and CO. conference in New York on Wednesday. Wagoner said Delphi's "cost structure is way out of line." GM is currently working on a deal with the auto parts company and workers represented by the United Auto Workers. Delphi is seeking to throw out existing labor contracts in bankruptcy court. Before that happens the three sides are trying to bang out a out-of-court settlement. Wagoner said the UAW seems to have an understanding of Delphi's situation.