By Doug Cunningham

Did Delphi plan its bankruptcy by under-funding its pension system while draining huge amounts of money from U.S. to overseas operations as a way to dump both its pensions and its American union workers? Soldiers of Solidarity activist Gregg Shotwell thinks that it may have, and he says Delphi cannot be allowed to get away with it.

[Gregg Shotwell]: “They were undermining the competitiveness and the value of the U.S. operations. So this really looks like a plan. If they are allowed to succeed in bankrupting the United States and dumping the responsibility for retirement in the taxpayers other multinationals are going to look at this as a business plan.”

Delphi will petition the bankruptcy court Friday to destroy its union contracts. The Soldiers of Solidarity will picket Delphi headquarters in Troy, Michigan Friday. Shotwell says even as it seeks to destroy these contracts Delphi still plans on paying millions of dollars in executive bonuses.

[Shotwell 2]: “We are rewarding incompetence, failure and even fraud.”