Jalopnik: delphi

U.S. To Cover Pensions For Delphi Workers

Ray Wert — Wed, 22 Jul 2009 09:45:00 EDT

These days, what's 70,000 Delphi pensions in the grand scheme of things? [Freep]

GM To Cut 190,000 Units, Shut 13 Plants, Some Permanently

Ray Wert — Thu, 23 Apr 2009 15:15:00 EDT

GM to cut 190,000 units, shut 13 plants, some permanently... because of Delphi? [Freep]

New Delphi Tech Ensures No More Dead Keyfob Batteries

Travis Hudson — Mon, 12 May 2008 15:20:00 EDT

Delphi, makers of all kinds of vehicle electronic gadgetry, will become the first manufacturer to use what is being called "segmented display cell." SDC is a type of e-ink used in electronics and will soon be implemented into a wireless bi-directional keyfob. SDC will make integrating displays into keyfobs a little more reasonable. SDC also looks a hell of a lot better than the third-party jobbers with displays that look like those handheld videogames from the 1990s. This technology isn't just about looks, either.

The type of display is more flexible and thinner than some of the current up-and-coming e-ink technologies. It also uses less battery power and the bi-directional nature of this specific keyfob from Delphi will allow for it to tell you all kinds of interesting facts about your car that nobody else will care about but you. [Slashgear]

GM assumes an additional $1.5 to $2 billion...

Ray Wert — Wed, 08 Aug 2007 08:45:00 EDT

GM assumes an additional $1.5 to $2 billion in pension obligations from Delphi. [Detroit News]

UAW taking a step towards a Delphi strike?...

Ray Wert — Fri, 20 Jul 2007 13:15:00 EDT

UAW taking a step towards a Delphi strike? [Detroit News]

Delphi accepts that $2.55B Appaloosa offer....

Ray Wert — Wed, 18 Jul 2007 16:15:00 EDT

Delphi accepts that $2.55B Appaloosa offer. Jeez, and you thought we liked saying Geelong. [Detroit News]

Delphi may get $2.55 billion to move ahead...

Ray Wert — Wed, 18 Jul 2007 12:10:00 EDT

Delphi may get $2.55 billion to move ahead with restructuring. [Freep]

The bankruptcy bill for Delphi will top $200...

Ray Wert — Wed, 11 Jul 2007 07:00:00 EDT

The bankruptcy bill for Delphi will top $200 million and may go as high as $300 million. [Detroit News]

Delphi UAW Workers Agree To Wage Cuts And Plant Closings!

Ray Wert — Fri, 29 Jun 2007 12:29:30 EDT

Forget the "Jesus Phone" — folks at Delphi, General Motors and the executive offices of the UAW are praising the real thing this early afternoon because according to Automotive News, UAW workers voted by more than a 2-1 ratio to approve the deal calling for top production wages to drop from $27 an hour to $18.50. Also, Delphi plans to close 10 US plants, keep four open, sell four others and transfer to the General three plants if they can't be sold. We'll get you more as soon as we know more — but for the time being this has got to make stress-induced angina in the folks at the automakers-once-known-as-the "Big Three" feel a little less painful. – Ray Wert

UAW workers at Delphi OK wage cuts, plant closings (sub. req.) [Automotive News]

Gettelfinger Pats GM On Head For Delphi Agreement

Ray Wert — Mon, 25 Jun 2007 11:15:00 EDT

The man in charge of the UAW doesn't for a moment credit Delphi for the agreement worked out at the end of last week between the union, the auto parts supplier and General Motors. Nope, he's giving some mad praises to the General, saying this morning on a local Detroit radio station:

"If it weren't for [GM Money Man] Fritz Henderson and his team...then this agreement never would have come about..."

Aww, isn't that adorable to see Ron playing all nice and stuff with GM? Yes, we think so. But don't ask us what he said about Delphi — ooh, those two never get along! – Ray Wert

Gettelfinger praises General Motors; blasts Delphi management over union deal [AP via Detroit News]

Even Google News Gets An Oracle When Searching For Delphi

Ray Wert — Mon, 07 May 2007 14:45:00 EDT

Yeah, we know you think she's hot. Apparently even Google News thinks women dressed in presumably traditional Greek dress are the best thing it can find when it thinks of Delphi. That's a lot better than the silly Wall Street Journal story to the right of the picture, given the sorry financial state of the beleaguered auto supplier. And it's a helluva lot better than what we're hearing from the Associated Press, that the auto supplier now sees a $1.3 billion pension payment in their future. Yup, the Oracle could have really helped them with that one. Picture of Google News headline below the jump. – Ray Wert

Search: Delphi [Google News]
Delphi Sees $1.3B Pension Payment [AP via Forbes]

Delphi Loses $533 Million In First Quarter Of 2007

Ray Wert — Mon, 07 May 2007 11:15:00 EDT

The Oracle, she has spoken — and the words coming out of her mouth are most assuredly not good for the General's big auto supplier. Delphi said it took in $6.7 billion in revenue and lost $533 million during the first three months of this year. That's substantially worse than the $7.0 billion in revenue and $363 million in red ink they dripped during the first quarter of 2006. Although Delphi claims $73 million of that loss was "attributable to employee termination costs," there's still a question of why they're hemorrhaging almost $100 million more year-on-year. We're sure glad all the great execs at Delphi were paid that $38 million in bonuses though, aren't we?

Delphi Corp. loses $533 million in first quarter [Detroit News]

CNBC Uses The Delphi Rhythm Method Too!

Ray Wert — Thu, 19 Apr 2007 15:50:54 EDT

Be careful CNBC. We know how easy it is once in a while to steal a good headline from a friend. You're lonely, they're lonely — and it just feels good. Sometimes you even want to do it without protection cause you read about a way to do it somewhere on the internet. But just because the Delphi Rhythm Method works for a blog, doesn't mean it's going to work for you. So be careful talking about Cerberus pulling out — you wouldn't want to make a mess. Remember, we're trained professionals here. – Ray Wert

Power Lunch [CNBC]

The Delphi Rhythm Method: Cerberus Pulls Out Early

Ray Wert — Thu, 19 Apr 2007 12:13:07 EDT

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? – Ray Wert

Bonus! Delphi Loses $2 Billion In Third Quarter

Ray Wert — Tue, 13 Feb 2007 14:22:56 EST

Obvs this is pending any restatements, but earlier this morning the General's biggest supplier saw a net loss of $2 billion in the third fiscal quarter. That's over $1.2 billion more than they lost during the same quarter last year. So even if you "take away" the $1 billion of the loss related to employee attrition programs, the beleaguered, broke and bankrupt company still did $200 million worse than they did during the same period last year. How much were they thinking of spending on bonuses again? But hey, you've got to pay competitively if you want to keep your good people. Maybe that's the problem — maybe they just aren't paying their execs enough. Yeah, that's it. – Ray Wert

Delphi posts $2 billion loss in third quarter [Detroit News]

Breaking! Delphi Gets $3.4 Billion As A Little Something To Keep It Going Through The Show

Ray Wert — Mon, 18 Dec 2006 09:25:00 EST

Well, it looks as though the saga of whether auto parts supplier Delphi will drag the General underwater into the inky abyss is getting a bit of a reprieve today. That reprieve is coming to the tune of $3.4 billion in stock buybacks of the broke n' busted auto supplier from Appaloosa Management LP, Cerberus Capital Management LP, Harbringer Capital Partners Master Fund I (no LP!), Merrill Lynch and YouAndUs Securities, LLC. The five companies, in a show of throwing good money after bad, appear to be in support of the Delphi plan to re-emerge from bankruptcy during the second quarter of 2007 and you know, start paying back the money it owes to the banks currently providing a hot capital injection. – Ray Wert

Delphi accepts $3.4 billion in financing from group of investors [Freep]

Gettelfinger As Soup Nazi: "No More Concessions For Delphi!"

Ray Wert — Tue, 10 Oct 2006 13:48:23 EDT

Well, it's close enough to warrant the picture — but can you blame the UAW chief? Ron's watched as 54,000 of his members took early retirement or forced to take up to a 50% cut in salary — while at the same time, 467 white-collared workers received a bonus for you know, not letting the company slide into the darkness during bankruptcy. So we guess we can understand why the guy'd be of the opinion that:

"If you take the supplemental agreement and the attrition package that they have in place, that puts the company where they need to be by any stretch of the imagination...there's nothing else left for us to negotiate."

Guess that mean's Delphi will actually have to sell some products this year rather than look for white-collar workers getting bonuses via the old fashioned way — wringing it out of union workers pay stubs. – Ray Wert

UAW chief: No more concessions for Delphi [Freep]

Breaking! Delphi Drops $2.6 Billion During The First Half Of 2006

Ray Wert — Tue, 15 Aug 2006 11:59:17 EDT

Embattled auto supplier Delphi's released the first half numbers and — who would have guessed it — they're awash in red ink. Yup, they're drowning in it — losing $2.6 billion during the first half of the year. But just like Delphi's baby-daddy, General Motors, the majority of those losses are associated with its attrition program. That'd be the more than 12,000 hourly UAW and IUEW workers who've taken the early-retirement plan. But that only accounts for $1.9 billion of the loss. Delphi's well-heeled, well-salaried and well-bonused execs still need to explain why the bankrupt company lost $700 million with revenue only up $100 million or so from the $13.9 billion it made in the first half of 2005.

Delphi loses $2.6 billion in 1st half [Freep]

Broke? GM Fires Multibillion-Dollar Claim Against Delphi

Ray Wert — Tue, 08 Aug 2006 09:00:03 EDT

It's been a while and we hadn't heard from Delphi recently...we were wondering what those guys have been up to. We found out when late yesterday, broke-as-a-joke auto supplier Delphi said the General made a "multibillion-dollar" demand for payments. That's not so good for Delphi considering it's kinda been relying on GM's help to carry out its bankruptcy reorganization. It's also interesting...

...because folks at Delphi are saying they have their own claim to file against the General, and Delphi's creditors have estimated GM's debt to Delphi a in the "billions of dollars" and are complaining Delphi hasn't been working hard enough to try to get payment from the General. So we've got a lawsuit by the worlds biggest automaker against the worlds biggest brokest auto supplier, and threats of a counter-suit. Sounds like a regular day in the American auto industry to us.

General Motors files multibillion-dollar claim against Delphi [MarketWatch]

Breaking! Bankruptcy Judge Rewards Delphi Execs For Being Bankrupt

Ray Wert — Wed, 19 Jul 2006 17:05:12 EDT

Somehow we don't think this is going to make things any easier during union negotiations. A federal bankruptcy court approved today a multi-million dollar bonus plan for Delphi senior executives. That's right — the court decided 467 executives of a bankrupt auto supplier needed bonuses — as long as they acheive earnings targets in the second half of the year. This is after they approved similar bonueses for the same executives for hitting performance goals in the first half of this year. Those bonuses were estimated at around $38 million. So — two questions. Is keeping your job when you've sent your company down the crapper no longer the incentive folks need, and where' the similar bonus plan for the blue-collar workers? Oh wait, Delphi's cut most of those jobs. By the way — anyone want to send us a copy of that list of 467 execs — just send it over to tips@jalopnik.com.

Court approves bonuses for Delphi execs [Detroit News]

Related:
Delphi to Court: Let Us Eat Cake! [internal]