delphi bankrupt?

[highlander_69r]

saw on tv that gm america is in serious financial trouble and apparently delphi in america is/could be announcin bankruptcy within days , wonder if repocutions will fall over here? did anybody else ee this or can elaborate as i only cought the last half of the flash

[spiv]

Delphi have lodged for chapter 11 which means that they can continue to trade and are protected from their creditors for now..... Since Delphi is a spin off from General Motors they are underwriting Delphi's employees pension benefits which all up colud total 11 Billion :eek: Wall Street analysts have given a 30% probablility to GM going bankrupt....which I seriously doubt as they have over 30 billion in cash in their war chest. Just goes to show you how vulnerable the automotive manufacturers are, especially when they have no real contingency plan for escalating fuel prices. Only yesterday the auto makers emphasis was on performance and now it has turned to fuel efficient vehicles.

[downbylaw]

GM has been in a precarious position for some time now as is ford.