About half of Delphi's material is supplied under contracts that run out at the end of this year, and the bankrupt manufacturer is suing in bankruptcy court to have those contracts extended by an additional two years. This contrasts somewhat with what happens during personal bankruptcy, where people show up to take away one's possessions (can you imagine, say, suing the phone company to keep providing service for two years once you've run out of money?). Ah, it's good to be in Big Business. How this affects suppliers who are currently shipping product under unfavorable terms is not yet known, but I'd sure hate to be the supplier who was hoping for a favorable renegotiation in order to maintain profitability at a time of rising costs. Give Delphi some credit, though, for not exercising its right to recover the last 90 days of payments made before filing for bankruptcy protection.
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