At Last, A Delphi Deal

General Motors (GM) is finding that it can get its union workers to accept real change by cutting checks. After more than 18 months of wrangling, the United Auto Workers, GM, and its former parts supplier—bankrupt Delphi—shook hands. GM will buy out or grant early retirement deals to many of Delphi's 17,000 workers. Those remaining take a pay cut from $27 an hour to $18.50 but will get an extra $35,000 a year for three years. In exchange, GM avoids a strike at its biggest supplier and can bid more parts jobs on the open market.