http://news.yahoo.com/s/ap/20051009/ap_on_...lphi_bankruptcy

Remember the IUP problems?

 

I didn't remember Delphi being so closely affiliated with GM.

Maybe there was a conspiracy to take money out of Ford's pocket with the IUP scandal?

 

This is bad news for the auto industry... especially GM. They could be on the hook for 11 Billion in pensions from Delphi. This also has HUGE implications to the UAW, as the bankrupcy judge can tear up any and all contracts. Any contract that Delphi has with an OEM where they are losing money can be changed as well.

 

I read on CNN today that analysts say there is at least a 30% chance that GM will follow Delphi into bankruptcy. Not good.