http://www.detnews.com/2005/autosinsider/0...4/01-358406.htm

Seen this before?

Delphi Pt. Deux?

Eeeekk. :huh:

sounded like another shoe hit the floor. unfortunately, we are dealing with an octopus so we're not done yet.

So now that the canary is in the mineshaft it will get some company.

What is really odious about this type of thing is that the executives' perks are based on the results that WERE posted. Although Visteon posted a loss, what would happen if they had posted a profit - would the executives be forced to give back their bonuses?

What has changed for US industry was the ruling in the United Airlines bankrupcy hearings. The ruling has set bad precedent. It is now possible for companies to routinely seek Chapter 11 in order to escape legacy obligations.