Word: delphi
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Dates: during 2000-2009
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OMAHA, Neb.—Like the ancient Greeks who traveled hundreds of miles to hear the Oracle of Delphi, so went 98 Harvard students this weekend in search of business wisdom from the Oracle of Omaha—Warren Buffett.Buffett, whose estimated $52 billion fortune makes him the second-richest person in the world according to Forbes, spoke with about 20 other American business leaders on topics that ranged from formulating business strategy to balancing personal and professional interests.“Unconditional love is the most powerful force in the universe,” Buffett said...
...prime example: R&D centers, once kept close to domestic headquarters, have been springing up around the world as companies seek to lower product-development costs. China and India are attracting the most investment dollars, but other locations are also rapidly emerging. For example, Motorola, Capgemini and Delphi are all setting up R&D centers in Krakow, Poland. Companies accustomed to keeping their R&D operations at home may end up missing important opportunities, says Spelman, because innovation is no longer confined to traditional research havens such as Silicon Valley. He points out that 12% of all nanotechnology patents...
...first-quarter sales of full-size SUVs. Even if gas prices continue killing the segment, the thinking goes, GM could pick up market share. They like York's presence on GM's historically wimpy board. Analysts also figure GM will pay whatever it takes to avoid a Delphi strike. With roughly 6,000 blue-collar workers expected to be left at Delphi, GM "could easily afford to compensate those employees to avoid a labor disruption," notes Prudential Financial analyst Michael Bruynesteyn. And labor bosses know a strike would be mutually assured destruction. Says industry analyst Cole: "Everyone is scared...
Skeptics also question GM's books. The Securities and Exchange Commission is investigating the way GM accounts for retirement benefits and transactions between GM and Delphi. GM took a charge of $800 million last year to pay for factory closures, but that may not reflect the final cost of workers' opting for the jobs bank instead of retiring; analyst Bruynesteyn figures GM will have to book another charge for that in 2007. GM's various cost-cutting moves should boost the bottom line, resulting in net income of $1.6 billion next year, Bruynesteyn estimates. Yet the healthier GM's finances...
...Analysts say GM has lost one percentage point of U.S. market share in the past year - about 170,000 vehicle sales - as buyers shun its models, fearing a meltdown. Company execs stress that GM has ample cash. But bankruptcy is a psychological event as much as a financial one; Delphi sought Chapter 11 protection not because it ran out of money but because it ran out of credibility, sparking a run on the bank. "Someday, someone will be brave enough to say these guys aren't gonna die, that this place is on the cusp of a major turnaround," says...