Delphi to pay lawyer $835 an hour

Nov. 6, 2005 at 10:53 AM
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TROY, Mich., Nov. 6 (UPI) -- Delphi Corp., has gotten approval of a bankruptcy judge to pay a law firm $835 an hour and increase its severance packages to 21 top executives.

This follows the auto parts manufacturer's demands to its unions last week that worker pay be cut by more than 50 percent plus other benefit reductions, The Detroit Free Press reports.

Delphi, based in Troy, Mich., employs 14,700 people in Michigan and 50,000 worldwide. It filed for bankruptcy Oct. 8, the largest manufacturer ever in the country to file for bankruptcy.

Chief executive Steve Miller said there is a catch to the severance package.

Executives only get the package if they are fired without cause or quit for good reason, plus they aren't allowed to work for a competitor right away.

The severance would be 18 months of salary and bonuses.

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