NEW YORK AP – Nancy Shade’s father and grandparents had enjoyed the security of General Motors’ benefits before they helped draw her to a job there, too. Now, the five-year breast cancer survivor is wondering how she’ll afford her own health coverage if GM’s spun-off parts maker, Delphi, terminates medical and life insurance benefits for salaried retirees.
Delphi Corp., which has been under bankruptcy protection since 2005, has asked a judge to allow it to cancel the benefits as soon as April 1, so the Troy, Mich., company can save more than $70 million a year and take more than $1.1 billion in liabilities off its balance sheet.
