All sides in the Delphi Corp. bankruptcy should cool the rhetoric and work together for the best interests of the enterprise and all its stakeholders.
It is encouraging that Delphi will delay by a month its plans to ask a judge to reject its labor agreements. That gives Delphi and its unions more time to agree on reasonable wages and benefits.
General Motors' decision to temporarily forgo price cuts that Delphi previously agreed to give in 2006 also is a positive sign, even if it's only while Delphi negotiates with its unions.
Even so, negotiations won't be easy.
Delphi's original proposal to cut wages from about $27 an hour to $9 an hour was a terrible opening gambit because it was an insult to union members who can't afford to work for $9 an hour.
Workers were stung by some of Delphi CEO Steve Miller's comments that workers are overpaid and executives are underpaid.
That forced UAW President Ron Gettelfinger to take a tougher stance.
The company's second proposal of $12.50 an hour is still too low, but at least it shows movement.
It's time to be realistic. A workable settlement probably means an hourly wage rate in the $15-$17 range, perhaps enhanced by a profit-sharing plan.
GM, Delphi and the UAW must find the optimum solution for the hundreds of thousands of employees and the million retirees who depend on them for their livelihood and for GM and Delphi shareholders.
If any side tries to squeeze the others too much, the result could be a catastrophic strike that would hurt everyone. Be reasonable: Don't queer the deal.