GM Looking at Buying Back Delphi
 

Check this out.

http://www.wivb.com/dpp/news/GM_in_t...lants_20090209

Re: GM Looking at Buying Back Delphi
 

With what money? https://www.yenko.net/ubbthreads/imag...lins/dunno.gif

Re: GM Looking at Buying Back Delphi
 

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With what money? https://www.yenko.net/ubbthreads/imag...lins/dunno.gif

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with profits from the Camaro.......oh wait....it hasnt been released yet !!!!! https://www.yenko.net/ubbthreads/imag...emlins/mad.gif

then i guess this is where the money will come from.....

The company last week asked a bankruptcy judge to allow it to cancel health care and life insurance benefits for 15,000 current and future salaried retirees, citing the steep downturn in the overall auto industry in recent months.............

makes sense doesnt it......lets screw the employees that made you billions over their careers......... https://www.yenko.net/ubbthreads/images/graemlins/bs.gif

Re: GM Looking at Buying Back Delphi
 

If they do that, the union will start to weigh it's options about petitioning GM into Ch.11. It stands to be the largest creditor if it goes under.

The govt. is considering pushing them into Ch.11 anyways so that they can get in front of the line of creditors. As it stands now, they are behind some of the very banks the govt. has recently bailed out. Crazy......

Re: GM Looking at Buying Back Delphi
 

The only people who got rich off the spinning off of supporting assets from many of the vertically integrated industries were the investment bankers and underwriters... well shareholders as well... but the problem is that these large industries are now dependent on suppliers over which they exert no fiscal control, if they (industry) are going to have to prop them up or buy them back... other than the fleecing of the average guy... what was purpose?

Re: GM Looking at Buying Back Delphi
 

[ QUOTE ]
The only people who got rich off the spinning off of supporting assets from many of the vertically integrated industries were the investment bankers and underwriters... well shareholders as well... but the problem is that these large industries are now dependent on suppliers over which they exert no fiscal control, if they (industry) are going to have to prop them up or buy them back... other than the fleecing of the average guy... what was purpose?

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I'll agree with that...but evidently GM is missing the big picture, as my latest Diesel Power says they're looking to unload ACDelco...! https://www.yenko.net/ubbthreads/imag...ins/tongue.gif