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Delphi to Accelerate Talks With GM

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Delphi to Accelerate Talks With GM
Monday November 28, 9:39 am ET
Delphi to Accelerate Talks With GM Regarding Its Restructuring

DETROIT (AP) -- Delphi Corp. said Monday it would accelerate talks with General Motors Corp. regarding its restructuring as the nation's leading auto-parts supplier works to emerge from bankruptcy and reach an agreement with its unions on wage cuts.

Delphi also said it would push back a Dec. 16 court date to ask a bankruptcy judge to eliminate union contracts if it had not reached a deal with labor unions. The meeting would not take place until at least Jan. 20, 2006, the company said.

"These constructive actions demonstrate a willingness to accelerate efforts to achieve consensual resolutions to the significant challenges facing Delphi," Delphi Chairman and CEO Robert "Steve" Miller said in a statement.

Troy, Mich.-based Delphi, which filed for Chapter 11 protection in October, said GM has agreed to temporarily forego previously agreed-to 2006 price reductions on components provided by Delphi as a way of providing financial support in the short-term.

Full Article: http://biz.yahoo.com/ap/051128/delphi_gm.html?.v=2

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I would truly like to see this end amicabley for everyone. I would Like to see us get back to talking about Vehicles,platforms and powertrains. I would like to see myself Buying another Saturn in the Future. I would like to see GM and all its Employees being successfull. Sonic

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