Delphi Reports Better Month

The troubled GM parts supplier released its monthly numbers today, and showed an increase in sales and a narrowing of its losses.
The financial report, filed under rules of their Chapter 11 bankruptcy protection, showed a loss of U.S. $56 million for the month of March, down from a $136 million slide in the previous month.
Delphi executives still blame the high cost of wages and benefit packages as the primary reasons for the company’s financial woes.
Judge Robert Drain is scheduled to hear a case next week, on whether or not Delphi can simply void many of its union contracts, in the event that a negotiated settlement can not be reached with the UAW and General Motors.
UAW representatives are threatening to strike if Delphi wins the case, and is permitted to cut wages and jobs without union consultation, a move which could seriously harm GM.