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The Ninja Guide To How To Wrackers Better (4)
After a string of main collapses across the US car trade this yr, another player has fallen by the wayside, write Jeff Bennett and Tom Becker. Trouble in the car parts industry, it seems, will not be restricted to Australia. US17.1 billion asset base. Bankruptcy protection appeared to be the only option after Delphi failed to win concessions from unions and monetary assist from former mother or father General Motors Corp, on which it was pinning its survival. Delphi, which was spun off from GM six years ago, has now hit the record books a second time. Not solely is it the US's largest car parts maker, it's also the biggest vehicle-related firm to go bankrupt in US history. In Australia, Delphi manufactures gasoline feed systems and exhaust tools. The way forward for its Australian operations is unclear. US27.50 an hour. The Michigan-based company may use bankruptcy to close factories, renegotiate contracts with customers, shed its "financial institution" of employees who draw salaries if they aren't working, and possibly hand its underfunded pension to the US Government.

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