Word: delphi
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Dates: during 2000-2009
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...Merrill Lynch are likely to go to jail. That's because incompetence and arrogance aren't criminal offenses. If that seems a bit unfair, so does the government's rescue program that saved some and not others, depending on political and social criteria. The most recent example: Delphi Corp., GM's former parts division that was spun off a decade ago, which recently emerged from bankruptcy proceedings. White collar Delphi retirees are having their pensions whacked, but United Auto Workers pensioners are being made whole...
...were a white collar Delphi retiree, I'd be over the moon with rage. Ditto if I'd been a steelworker in Pennsylvania whose health care and pension were eviscerated when Bethlehem Steel failed. If I worked at one of the 106 nongiant banks that the government has allowed to fail this year, throwing thousands of people out of work, I'd be furious at the government for saving the big insolvent outfits but not mine...
Magna's two biggest competitors, U.S.-based Lear Corp. and Delphi, are teetering on the brink of collapse. Lear filed for Chapter 11 bankruptcy protection a month ago, citing the need to restructure $3.6 billion in debt. Meanwhile, Delphi, a former GM subsidiary based in Troy, Mich., and that automaker's biggest parts supplier, emerged from bankruptcy protection in June after unloading $6.2 billion in pension liabilities on the Pension Benefit Guaranty Corp. (PBGC), a U.S. government agency whose job is to protect private pension plans. (See the 50 worst cars of all time...
...hasty treatise. “Lysistrata” managed to stay loyal to the classical Grecian comedy’s plot while integrating modern allusions. The sequin-clad women use a metaphor for spinning wool to illustrate the necessity of negotiations and peacekeeping and also consult the Oracle of Delphi. But while maintaining that spirit of conscientious pacifism, “Lysistrata” snidely pokes fun at modern gender stereotypes. “Did your wife redo the den into a living room and paint it eggshell?” one Athenian gripes to another...
...joined GM as a senior analyst in the company's New York-based Treasurer's Office. After a series of rapid promotions through the company's ranks, he became a GMAC vice president in 1992 and was appointed a GM vice president and general manager of steering company Delphi Saginaw...