AFSCME 3357-HOF'S BLOG

The Oracle says Delphi is on the skids

It doesn't take mythological powers to see that automotive parts supplier Delphi is in trouble financially. Delphi lost $4009 million in the first quarter. That's $.74 per share. With share prices under $4.00 per share, that's a hunk o spare change.

Delphi has other problems too. There's an investigation by the Feds over questionable accounting relating to (subsidy) payments by General Motors. In addition, in the short term, Delplhi is going to have to come up with $700 to pay its current pension obligations.

All of these problems are a shame because I just got a Delphi-manufactured Roady2 XM radio. It's a stylishly small, wel-made and useful piece of equipment.


The Car Connection - Delphi Battered by GM Cuts - Accounting problems, lower payouts all coming down on biggest American supplier.