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Corporate Bankruptcy

This one is huge. This will have ripple effects throughout the auto industry.

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Auto industry rocked by Delphi bankruptcy
Workers face prospect of wage, benefit concessions or court-ordered cuts

By John W. Schoen
Senior Producer
MSNBC
Updated: 7:33 p.m. ET Oct. 9, 2005

First came the U.S. steel industry. More recently, money-losing airlines have landed themselves in bankruptcy court to cut labor costs. Now, Saturday's filing by auto parts maker Delphi signals that the U.S. auto industry has arrived at the same crossroads with it's work force: agree to out-of-court concessions, or face the prospect of court-ordered cuts in wages, benefits and pensions.

Delphi, a $29 billion industrial giant, has been struggling to make a profit since General Motors spun off its parts subsidiary in 1999. Last year, Delphi lost $4.8 billion; it lost nearly $750 million in the first half of this year.

https://msnbc.msn.com/id/9644882/

Bankruptcy Corporate

Another one bites the dust. This one is a shame, and its going to have bad reprocutions on the auto parts industry. To me, it looks like another example of the big company taking out the smaller company, though delphi was not small by any measure.

Corporate Bankruptcy History & Civil Business Politics

Not limited to Corporate Bankruptcy: Specific articles about different aspects of Bankruptcy, Bankruptcy Made Easy and general Bankruptcy information can be found at: www.international-discussion.net/bankruptcy