UPDATE 1-Judge OKs Delphi first half '07 executive bonuses

Newswire

(Adds details from judge's ruling, background) NEW YORK, March 22 (Reuters) - A U.S. bankruptcy judge ruled on Thursday that Delphi Corp. may pay up to $37.4 million in bonuses to executives for the first six months of 2007, despite objections from the auto parts maker's unions. "It's not the case that every dollar that goes into an executive's pocket is a dollar out of a (worker's) pocket," Judge Robert Drain said in ruling that the payments clearly are a part of the salary plan and not ...

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