<VV> Delphi costs

[Padgett]

>The new-ish CEO of Delphi was the guest on Autoline Detroit this weekend on
>Speed TV (repeats on Tuesday). Exccellent interview. He was very open about
>Delphi's issues. One of them is that their "all in" labor cost (including
>wages, overtime, benefits, and pension costs for retired folks) is $70+ per
>hour.

This is where "creative accounting" comes into play. Pension Costs should 
*never* be included in a burdened rate. These are to be separately funded 
and not to be included in overhead. When a company starts playing with 
pension funds such as using them to bolster stock prices, someone used to 
go to jail.

Padgett