Delphi, the largest U.S. auto supplier, files for bankruptcy

[Koll]

Delphi Corp., the largest U.S. auto supplier, filed for bankruptcy Saturday, sending shock waves through a U.S. auto industry already weakened by high labor costs and falling market share.

Delphi's bankruptcy, which is expected to result in plant closures and layoffs, is the largest ever in the auto industry. It is also the biggest in Michigan and the 13th largest in U.S. history based on assets, according to bankruptcy tracker New Generation Research Inc.

http://hosted.ap.org/dynamic/stories/M/MI_DELPHI_BANKRUPTCY_MIOL-?SITE=MIDTN&SECTION=HOME&TEMPLATE=DEFAULT

[deadtrend1]

WHAT!?! I dont get it .... someone in their accounting department must have been sleeping on the job.

[NJSPEEDER]

this is what happens when you pay someone $35/hr to make $5 parts.
the company is fine, they already have their reclamation plans set and approved. the short version is that plants will re-open overseas and in mexico. all thanks to the continuing greed of union unskilled labor and the stooges when bend over and take it from them.

later
tim

[BigAls87Z28]

This is a pre-stage for GM to file Chap 11 as well, go tell the unions to F off, and then get their money straight, then come out with competing cars that wont be held up by slow moving unions with massive legacy costs!!