Business Services Industry
GM wants cash, not equity, from Delphi.(News)
Crain's Detroit Business, October, 2006
Byline: David Barkholz Crain News Service General Motors Corp. prefers cash to equity as compensation for the $4 billion in claims that it has accumulated in the Delphi Corp. bankruptcy case. GM, Delphi's largest customer, says it is owed the money for future retiree costs incurred as part of its buyout of more than 20,000 hourly Delphi workers this year.
GM's claims are a crucial piece in the future ownership and control of the auto supplier. Claims can be bought and sold as part of the reorganization process. As Delphi's largest potential unsecured creditor, GM stands to get significant equity in a reorganized Delphi if the parts supplier can't raise enough cash to pay the claims. But GM doesn't want to own Delphi again, said a GM executive last week who...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
