Could you believe the luck? This coming model year was going to be GM's turning point: new cars, new trucks, new, uhm, ways to turn Solstice drool into money-green Jello (yikes, that analogy even grossed us out.) So what happens? In a flash of "Steve" Miller's Zorro blade, Delphi — GM's former division and largest supplier — goes into bankruptcy by a thousand cuts, leaving its workers' union with hardly a reason not to strike. Not just any strike, but a strike that would cripple GM's production and assure its sales will be lackluster for another year. The answer? All hands on deck! Excess inventory, right ahead!
GM Preps for Strike at Delphi [The Detroit News]
General Motors Called in by SEC on Delphi Transactions [internal]