As a follow up to last week's "Delphi in trouble" story is the news that Chapter 11 may not be too far in their future. The auto supplier's stock set an all-time low today helped by an SEC inquiry about shady accounting practices. As another supplier hit in the pocketbook by reduced U.S. car production, Delphi added to their injury with the accounting scandal. Bankruptcy is one way to get rid of the high pension costs they inherited when spun off from GM in 1999. The taxpayers can pay for it then. Yay!
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