Delphi filing Chapter 11 bankruptcy

For those that don't know it, Delphi is a huge
company and the bankruptcy just affects its uS
divisions.

And this move was probably arranged by accounting
slight of hand to show so much red ink in one
year. (See graph in the article.)

But could these accounts have been fraudulently
reporting income in previous years...like Worldcom
did?

"Who is to say this is the end of the line?" he
said. "If you're competing with Chinese labor,
then who is to say that $10 an hour is too much?"

Let's not forget the Malaysians, Indonesians, Thais,
Indians, Somalians, etc. The list is long.

Delphi's UAW workers said a sense of betrayal
has overwhelmed union members who have dedicated
years to their jobs.

"They just snatched the American dream from
thousands of people," said Don Thomas, a veteran
of 29 years at a Delphi plant in Rochester, N.Y.
"Nobody wanted to believe it until it happened."

The Zombie Syndrome, practiced so well by Amurikans
(sic) and Europeens.(sic)

The whining about world-wide job competition is
deafening. You hear almost nothing about tax
competition. This latter also drives jobs offshore.

Get over it.

Shit happens. Move on.

Large swaths of Europe, uS and Canada soon to look
like downtown Detroit.

Can old zombies teach themselves new tricks?

Full article.

--This has been another Zombie Alert brought to you by jomama.