The issue is very complicate and long running. Much of it comes down to Americans being patriotic of everything but our manufactured goods. We have let our electronics industry die, we are losing our automobile industry and that will be the death knell for the middle class. We want our products cheap and good, regardless of where they come from. I have been to places where people will pay a premium for local made goods that may not be as good. How else do you explain Renault, Citreon and Pugueot :->
If you look at the bigger picture, you will find that if these wage cuts stick then the buying power of this group falls by around $300K per hour. $2.4 Million per workday. Imagine the economic fall out from that to all of the associated persons (cleaners, dealers, stores, diners, phone providers, etc.). Imagine the drop in income taxes and increase in bankruptcies (under this new corporate slanted law). The affects to all will be chilling.
Now also imagine a Delphi strike, GM would stand the possibility of being idled for quite a while. This could be devastating.
I think Delphi could be less draconian in their implementation, 20% wage cuts until some performance metric is met. If we make money, you make money (continue profit sharing). No wage increases for a specified period of time, Vision and dental but with premiums and deductibles (reasonable ones).