| wmquan |
They make a lot of products, but many of us know them for their XM radio products (SKYFi, Roady, MyFi.)
quote:
Delphi Corp., the largest U.S. auto supplier, filed for bankruptcy Saturday, sending shock waves through the nation's auto industry, which already is weakened by high labor costs and falling market share.
The company's bankruptcy is one of the largest in the country's history.
http://news.yahoo.com/s/ap/20051008...lphi_bankruptcy |
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| Warzau |
| WOW I guess no one is immune. |
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| Rick_James |
| well I got a skyfi. what does this mean?? No more XM for me?? |
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| Warzau |
| Im sure XM will still be there but prob no more new Delphi Sat radio equipment. |
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| wmquan |
They're just under Chapter 11 so will continue to operate. They may sell off some of their lines, but probably keep the rest.
So I doubt if Delphi equipment owners have much to worry about. JMHO.
Going into Chapter 11 apparently enables them to get out of some contracts with GM and the UAW, as well as push some of their pension liabilities to the government agency handling these.
Still, they are number 63 on the Fortune 500 so this isn't a good thing. |
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| anjan |
| This has been on the cards for quite a while, so its not a surprise. If GM doesn't improve and UAW doesn't give up its ridiculous, impractical benefits, GM will follow in it footsteps. Its already burning through its cash and before long will crumble before Toyota. |
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