Supplier to Auto Industry Makes Cuts
(September 19th, 2005 under Automobile Industry )
Once again a supplier to an automobile manufacturer is facing cut backs and certain reorganization, either in or out of bankruptcy court. Here is an article which describes the issues facing Delphi, a supplier to GM:
http://www.bizjournals.com/industries/economic_view/bankruptcies/2005/09/19/dayton_story1.html?f=et156&hbx=e_vert
Here is a quote from the article out of the Dayton Business Journal:
"To stay out of bankruptcy court, Delphi needs help from GM and its unions: Either GM bails it out, or the unions cut a deal to significantly reduce costs, headcount and perhaps plants." Miller said earlier this month that discussions with the United Auto Workers won't get detailed until October. But he also said he would want to beat the deadline of Oct. 17, when new, stricter bankruptcy laws go into effect.
Mike
This entry was posted
on Monday, September 19th, 2005 at 4:53 pm and is filed under Automobile Industry .