Jeez, can't the auto industry give us a break today? Don't they know we've got the new concepts from BMW and Audi at the Shanghai show to cover? People these days — so inconsiderate. Well, let's put our industry hats on for a moment and let you know what's going on at everyone's favorite auto supplier, Delphi. Apparently private equity fund Cerberus Capital Management won't be getting a second
scare photo-op like the one they got from the GMAC sale we've got pictured above. That's right, the private money-making fund is withdrawing from a deal to buy Delphi Corp. and help pull the little bugger out of Chapter 11 reorganization. Delphi claims Cerberus is pulling out over differences over Delphi's future value. Cerberus claims — well, they ain't claiming anything other than that they might still play with Delphi when it finally does leave Chapter 11 — but one wonders whether the deal's being killed because of an inability for Cerberus to get concessions out of the UAW, inflexibility and ineffectiveness of management or because they're saving their bank for the big prize — the Chrysler Group. Who knows?