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Automotive > Delphi Delisted and Devastated in Debt
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Article rating : 0.00, 0 votes. Author : Lance Winslow
Delphi is delisted and in debt and having filed Chapter 11, one has to wonder what this means for the auto industry. In fact the financial analysts specializing in the United States automotive manufacturing industry are not painting a very rosy picture for the sector in the next few years. The States of IN, MI and OH are certainly worried as these problems will directly effect their economies, as the auto manufacturing is a huge employer of high paying jobs.
Delphi has been delisted after their stock was under thirty cents a share? So much for those laid off workers who had saved in company stock, it ain’t worth much now. Delphi will attempt to restructure its dept and reorganize, but thing are not looking so hot. In fact since Delphi was spun off from General Motors in 1999 it has been a roller coaster ride. General Motors remains Delphi’s largest customer. Which creates a whole new problem, in that what about General Motors and their financial condition. This might be problematic for our Nation, as it has been previously uttered that; “What is good for General Motors, is good for America.”
Delphi is the largest auto supplier in the North America; some say the world. Delphi’s employment base and plants employ thousands of people in many states. This is a serious issue for the auto sector, which already has given up 3% market share recently to the Japanese Automakers due to the high costs of fuel and renewed demand for small and more efficient vehicles. Think on this.
"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs/
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