From Automotive News
Here is a summary of news from the past week stemming from Delphi Corp.’s Chapter 11 bankruptcy filing on Oct. 8.
- Delphi listed assets of $17.1 billion and liabilities of $22.1 billion. The bankruptcy covers only Delphi and its 38 units in the United States. Non-U.S. subsidiaries were not included. It was the largest automotive Chapter 11 filing ever.
- Delphi cited high U.S. labor costs, contractual obligations to UAW workers and retirees and less business from GM as the primary reasons for the bankruptcy. Thousands…