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Delphi Finally Out of Bankruptcy – But Now What?

Giant supplier hopes to rebuild but obstacles remain.

by on Oct.06, 2009

Despite a successful record as a turnaround specialist, it's taken Delphi Corp. CEO Steve Miller four years to get the auto parts company out of Chapter 11.

Despite a successful record as a turnaround specialist, it's taken Delphi Corp. CEO Steve Miller four years to get the auto parts company out of Chapter 11.

When both General Motors and Chrysler blasted through the courts in mere weeks, it might have seen like the bankruptcy process was being completely transformed to help the auto industry rebuild.

But if so, somebody forgot to alert Delphi Corp., the giant supplier and former partsmaking arm of GM that is today wrapping up its court-protected reorganization – but only after a grueling process that has dragged on for almost four years to the day.

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Plenty has changed since Delphi first filed for Chapter 11.  The company has closed or sold off an assortment of operations, giving the heave-ho to thousands of workers, while most of those still on the payroll will be making significantly less than they did before.

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