Delphi is/was certainly uncompetitive, but repudiation of contract disturbs me. I guess that this is legal (in certain circumstances) in the US? It seems to make it too easy for management to walk away from their mistakes.
It is unconscienable for the courts to void or impose new contracts.
The folks being screwed by the new contracts have no recourse.
We are all well familiar with how many times the courts actually come to defend the little guy.