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5. Times of upheaval for auto sector.(News)
Crain's Detroit Business, January, 2007 by Snavely, Brent
Byline: Brent Snavely Don't expect the pace of change in the local automotive industry to slow in 2007. In fact, auto insiders are braced for what could be an even more turbulent year for mergers and acquisitions, financial woes and bankruptcies of tier-two suppliers. Plus, the United Auto Workers is scheduled to renegotiate its master contracts with the Big Three (See story, Page 3).
More specifically, watch for the following in 2007: * Troy-based Delphi Corp. seeks to exit Chapter 11 bankruptcy by the middle of the year. Delphi, which filed for bankruptcy protection in October 2005, is still in talks with the UAW and General Motors Corp. Delphi has said that in order to be financially stable it must modify its U.S. labor agreements and conclude its...
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