- May 1, 2006
GM draws the line at helping Delphi
In the latest development, Delphi reports that it was unable to persuade GM to forego planned price reductions in Delphi's supply contracts to its biggest customer. Delphi says the contracts are unprofitable, and has said that it wants to renegotiate the contracts or get out of them entirely.
GM had agreed to delay imposing the agreed-upon lower prices for the first quarter of the year to take some of the pressure off Delphi, but now wants Delphi to start living up to its contracts.