Delphi (bad) News

tom3 · 10-05-2005, 10:04 AM

Updated: 8:12 a.m. ET Oct. 5, 2005

NEW YORK - Delphi Corp., the struggling U.S. auto parts supplier, is prepared to file for bankruptcy as early as this week as it lines up lawyers and consultants, the New York Times reported on Wednesday.

The latest move came Monday when Delphi appointed David Sherbin as general counsel. Sherbin had worked with Delphi Chief Executive Robert Miller in the same capacity at Federal Mogul, which had filed for bankruptcy.

http://www.msnbc.msn.com/id/9597094/

Jimgm · 10-05-2005, 07:49 PM

Could this be why GM sold its stake in FHI? Maybe they are bracing for the legacy cost.

Dizzer · 10-06-2005, 05:00 AM

My $.10 predicition - Filing by noon Friday and the profitable plants/operations blended into a new entity run by Wilbur Ross that becomes part of a auto supplying behemoth within a year. Ross is salivating to get at many of Delphi's operations once they are stripped of anchor of legacy costs.

kenman923 · 10-06-2005, 05:33 AM

EEK!!! What would that mean to the future of my MyFi?

johnny smallblock · 10-06-2005, 10:10 AM

According to this article, Delphi managed to get itself into a $10 billion hole within 8 years of being split off from GM. What the heck are these executives doing?!? I mean, it's an honest-to-God challenge to go through that much money. Can GM get some more bad news please.

10-05-2005, 10:04 AM	#1 (permalink)
tom3 6.0 Liter Vortec V8 Join Date: Dec 2004 Posts: 1,810	Delphi (bad) News Updated: 8:12 a.m. ET Oct. 5, 2005 NEW YORK - Delphi Corp., the struggling U.S. auto parts supplier, is prepared to file for bankruptcy as early as this week as it lines up lawyers and consultants, the New York Times reported on Wednesday. The latest move came Monday when Delphi appointed David Sherbin as general counsel. Sherbin had worked with Delphi Chief Executive Robert Miller in the same capacity at Federal Mogul, which had filed for bankruptcy. http://www.msnbc.msn.com/id/9597094/

10-05-2005, 07:49 PM	#2 (permalink)
Jimgm 1.8 Liter ECOTEC Join Date: Jan 2003 Posts: 49	Re: Delphi (bad) News Could this be why GM sold its stake in FHI? Maybe they are bracing for the legacy cost.

10-06-2005, 05:00 AM	#3 (permalink)
Dizzer 2.0 Liter Supercharged ECOTEC Join Date: Aug 2003 Posts: 160	Re: Delphi (bad) News My $.10 predicition - Filing by noon Friday and the profitable plants/operations blended into a new entity run by Wilbur Ross that becomes part of a auto supplying behemoth within a year. Ross is salivating to get at many of Delphi's operations once they are stripped of anchor of legacy costs.

10-06-2005, 05:33 AM	#4 (permalink)
kenman923 6.2 Liter Vortec V8 Join Date: Feb 2005 Drives: 2009 Acura TSX Posts: 2,632	Re: Delphi (bad) News EEK!!! What would that mean to the future of my MyFi?

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