Judge OKs settlement of labor disputes

DOW JONES NEWSWIRES

NEW YORK — A federal judge on Wednesday approved two settlements between Delphi Corp. and the United Steelworkers union, a move that resolved the last remaining labor disputes in the company’s bankruptcy reorganization.

Judge Robert Drain of the U.S. Bankruptcy Court in Manhattan approved the deals that cover union members working out of two Dayton facilities. The deals have not yet been ratified by the USW but should receive union approval sometime in September.

“I conclude that as a settlement these two agreements are fairly reasonable and were subject to arm’s length negotiations and in fact, fairly intense negotiations,” Drain said.

Cutting labor costs has been a key element of Delphi’s bankruptcy reorganization. The USW was the last of Delphi’s U.S.-based unions to come to terms with the company.