Auto industry turmoil

This is not an anti-union rant at all, but after reading about the United Auto Workers saying U.S. hourly workers voted to authorize a strike if bankrupt auto parts maker Delphi Corp. tosses out its labor contracts as part of its reorganization, my only question is, are they serious?
It is very apparent the major auto companies and their suppliers have been hamstrung by union contracts over the past few years. Good for the unions. They negotiated a great deal for their constituents. Now the problem is, they are paying the price for their success and the auto companies complete lack of management skill.
Obviously, there is no easy answer to the problems besetting the auto industry, but voting to strike a bankrupt company in an industry facing incredibly tough times, seems to be like trying to put out a forest fire with an eye dropper.
Delphi management wants the union to agree to givebacks, but union officials are saying not so fast.
Unions have threatened to strike if Delphi voids the labor contracts. A strike could halt North American production at the parts maker, and at General Motors, and other auto and truck manufacturers.
GM Chairman and Chief Executive Rick Wagoner, who is facing rough times at his company, called resolving the dispute between Delphi and the unions an urgent priority.
In an effort to get to a positive bottom line, Delphi wants to slash wages by two-thirds, cut benefits, close U.S. union plants and trim thousands of jobs.
The idea here is these two factions—management and the union—need to work together for a positive outcome, not clash in a battle of wills. One way, they will win, the other way, say good bye to Delphi.
Talk to me.