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Report: Delphi Moves Closer To Bankruptcy

Posted: 9:52 am EDT August 30, 2005Updated: 10:06 am EDT August 30, 2005

The Dayton Daily News reported that Delphi could be moving closer to bankruptcy.

Delphi is GM’s largest supplier of auto parts. The paper said a letter distributed to union members claimed changes need to be made in the company’s cost structure within two weeks.

Delphi wants to make changes to current wages, pensions and health care. However, some of its union contracts do not allow it.

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