The beleaguered auto-part supplier Delphi is looking for concessions from the UAW and financial help from former parent company GM after losing more than $400M the first quarter of this year. GM sales might be up but production is down, putting a hurt on Delphi's revenue stream. If Delphi can't receive the help it needs, then it may very well consider bankruptcy. Their new CEO knows this path well, having taken Bethlehem Steel into bankruptcy right after showing up at that job (one would think that'd look bad on a resume, but this is the corporate world we're talking about). If that were to happen before Sept. 2007, up to $9B in pension and health-care liability would transfer back to GM, adding to their already significant woes in that area.
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