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noch hingeht. in usa + 8%.
wenn hier neue positive news kommen z.b. übernahme, neue investoren etc. gehts hier richtig ab.
ich denke hier wird sich bald einiges tun ...
wenn hier neue positive news kommen z.b. übernahme, neue investoren etc. gehts hier richtig ab.
ich denke hier wird sich bald einiges tun ...
tja...gute Nachrichten sind da, und es geht ab(wärts).
15.11.2007 13:49
Delphi signs deal with GM, investors to amend reorganization plan
NEW YORK (Thomson Financial) - Delphi Corp. (Nachrichten) Thursday said it has reached an agreement with General Motors Corp. (Nachrichten/Aktienkurs) and its plan investors to amend the reorganization and restructuring plan between the two companies.
The amendments lower Delphi's net funded debt to $5.2 billion from $7.1 billion and reduce the total plan equity value to $13.4 billion from $13.9 billion, Delphi said.
Existing shareholders will have the right to acquire about 20,770,345 common shares, up from 12,711,111 shares under the old plan.
Delphi said it continues to work to emerge from Chapter 11 proceedings during the first quarter of 2008.
Shares of Delphi closed at 23 cents on Wednesday.
Christie Rizk
cr/pc
COPYRIGHT
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Eines der aufregendsten Junior-Goldexplorationsprojekte in Australien im Fokus!
hört sich doch super an.
Wie gesagt das ding geht bald ab!
Delphi legt neuen Plan für Weg aus Insolvenz vor
Delphi hat sich mit General Motors und seinen übrigen Gläubigern auf einen neuen Finanzplan zur Rettung geeinigt. Nun benötigt Delphi statt 7,1 Milliarden nur noch 5,2 Milliarden Dollar an Finanzierungszusagen, teilte das Unternehmen am Mittwoch mit.
Delphi-Sitz in Troy: Die frühere General-Motors-Zuliefersparte will nach Verzögerungen mittlerweile im ersten Quartal 2008 aus dem Insolvenzverfahren herauskommen.
Bild vergrößern
Troy. Der in einem Insolvenzverfahren steckende größte US-Autozulieferer Delphi hat sich mit General Motors und seinen übrigen Gläubigern auf einen neuen Finanzplan zur Rettung geeinigt. Nach der neuen Vereinbarung benötige Delphi 5,2 Milliarden Dollar an Finanzierungszusagen, teilte das Unternehmen am Mittwoch mit.
Ursprünglich wollte Delphi 7,1 Milliarden Dollar (4,9 Mrd Euro) haben, musste den Plan aber wegen Finanzierungsproblemen durch die Kreditkrise ändern. Die frühere General-Motors-Zuliefersparte Delphi will nach Verzögerungen mittlerweile im ersten Quartal 2008 aus dem Insolvenzverfahren herauskommen. Spätestens 2009 soll das Ergebnis wieder schwarz sein. (dpa/gem)
Wie gesagt das ding geht bald ab!
Delphi legt neuen Plan für Weg aus Insolvenz vor
Delphi hat sich mit General Motors und seinen übrigen Gläubigern auf einen neuen Finanzplan zur Rettung geeinigt. Nun benötigt Delphi statt 7,1 Milliarden nur noch 5,2 Milliarden Dollar an Finanzierungszusagen, teilte das Unternehmen am Mittwoch mit.
Delphi-Sitz in Troy: Die frühere General-Motors-Zuliefersparte will nach Verzögerungen mittlerweile im ersten Quartal 2008 aus dem Insolvenzverfahren herauskommen.
Bild vergrößern
Troy. Der in einem Insolvenzverfahren steckende größte US-Autozulieferer Delphi hat sich mit General Motors und seinen übrigen Gläubigern auf einen neuen Finanzplan zur Rettung geeinigt. Nach der neuen Vereinbarung benötige Delphi 5,2 Milliarden Dollar an Finanzierungszusagen, teilte das Unternehmen am Mittwoch mit.
Ursprünglich wollte Delphi 7,1 Milliarden Dollar (4,9 Mrd Euro) haben, musste den Plan aber wegen Finanzierungsproblemen durch die Kreditkrise ändern. Die frühere General-Motors-Zuliefersparte Delphi will nach Verzögerungen mittlerweile im ersten Quartal 2008 aus dem Insolvenzverfahren herauskommen. Spätestens 2009 soll das Ergebnis wieder schwarz sein. (dpa/gem)
ich bin sehr gespannt. die erste reaktion auf die guten nachrichten war ja erstmal ein kleiner "einbruch".
würde mich aus sehr sehr egoistischen gründen natürlich über eine explosion freuen.
AP
Chrysler Wants Delphi Sale Delayed
Monday November 26, 4:08 pm ET
Chrysler Seeks to Have Delphi Units' Sale Delayed on Supply Pacts
NEW YORK (AP) -- Chrysler LLC has asked a bankruptcy judge to delay the $106 million sale of two Delphi Corp. businesses until the auto maker can determine whether all its supply contracts are included in the deal.
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In papers filed Friday with the U.S. Bankruptcy Court in Manhattan, Chrysler said it hadn't had enough time to analyze the sale because many of its employees weren't working during the Thanksgiving holiday.
Delphi, a Troy, Mich.-based auto-parts supplier, has a preliminary agreement to sell the two businesses to Renco Group Inc., a New York owner of steel and mining companies.
On Nov. 16, Delphi sent the notice of the supply contracts to be included in the sale, according to court papers. An auction will be conducted Dec. 6 if Delphi receives more than one bid for the businesses.
Up for sale are Delphi's interiors operation, which makes instrument panels, and its closure-systems business, which makes doors and latches. The two businesses generate $1.3 billion a year in revenue, according to court documents.
Chrysler said it hasn't had time to determine if the sales of the businesses will include all its supply contracts, "given that the notice was filed Friday evening Nov. 16, and that certain employees of Chrysler were unavailable during the holiday week."
Moreover, Chrysler said it needs to determine whether any of the supply contracts with Delphi is unfulfilled and if so, by how much.
Delphi, the former parts unit of General Motors Corp., filed for bankruptcy in October 2005 and has been selling off "non-core" businesses. It is working to emerge from Chapter 11 protection in the first quarter of 2008.
Renco Group also owns AM General, the maker of Humvee military vehicles, according to its Web site. Renco is set to get a $2.4 million termination fee if Delphi decides to go with another bid for the businesses.
Delphi said the interiors and closure-systems businesses are "fundamentally strong." The two units have manufacturing facilities around the world, but Delphi says they would be more profitable as a stand-alone entity.
Chrysler Wants Delphi Sale Delayed
Monday November 26, 4:08 pm ET
Chrysler Seeks to Have Delphi Units' Sale Delayed on Supply Pacts
NEW YORK (AP) -- Chrysler LLC has asked a bankruptcy judge to delay the $106 million sale of two Delphi Corp. businesses until the auto maker can determine whether all its supply contracts are included in the deal.
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In papers filed Friday with the U.S. Bankruptcy Court in Manhattan, Chrysler said it hadn't had enough time to analyze the sale because many of its employees weren't working during the Thanksgiving holiday.
Delphi, a Troy, Mich.-based auto-parts supplier, has a preliminary agreement to sell the two businesses to Renco Group Inc., a New York owner of steel and mining companies.
On Nov. 16, Delphi sent the notice of the supply contracts to be included in the sale, according to court papers. An auction will be conducted Dec. 6 if Delphi receives more than one bid for the businesses.
Up for sale are Delphi's interiors operation, which makes instrument panels, and its closure-systems business, which makes doors and latches. The two businesses generate $1.3 billion a year in revenue, according to court documents.
Chrysler said it hasn't had time to determine if the sales of the businesses will include all its supply contracts, "given that the notice was filed Friday evening Nov. 16, and that certain employees of Chrysler were unavailable during the holiday week."
Moreover, Chrysler said it needs to determine whether any of the supply contracts with Delphi is unfulfilled and if so, by how much.
Delphi, the former parts unit of General Motors Corp., filed for bankruptcy in October 2005 and has been selling off "non-core" businesses. It is working to emerge from Chapter 11 protection in the first quarter of 2008.
Renco Group also owns AM General, the maker of Humvee military vehicles, according to its Web site. Renco is set to get a $2.4 million termination fee if Delphi decides to go with another bid for the businesses.
Delphi said the interiors and closure-systems businesses are "fundamentally strong." The two units have manufacturing facilities around the world, but Delphi says they would be more profitable as a stand-alone entity.
No charges filed in Delphi case
Justice Department will not file criminal charges against executives at the auto parts maker on allegations of accounting fraud.
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DETROIT (AP) -- The U.S. Justice Department has decided not to file criminal charges against nine former Delphi Corp. officials involving allegations of accounting fraud at the struggling auto parts maker.
In a Nov. 21 letter to a federal judge in Detroit, Steven A. Tyrrell, chief of the department's Fraud Section in Washington, said his office had contacted attorneys for the nine "targets and subjects" of the investigation and "advised them that we had declined prosecution of them."
The letter did not say why the decision was made, but said the government would not prosecute former Chief Executive J.T. Battenberg; former Chief Financial Officer Alan Dawes; former Treasurer and Senior Vice President John Blahnik; former Controller and Chief Accounting Officer Paul Free; former Director of Capital Planning and Pension Analysis Milan Belans; former Director of Financial Accounting and Reporting Catherine Rozanski; former Director of Finance in Delphi's information technology department Judith Kudla; Laura Marion, Delphi's former director of financial accounting and reporting; and former Vice President and Chief Information Officer Peter Janak.
Justice Department spokesman Bryan Sierra on Tuesday confirmed the decision not to prosecute but declined to comment further.
Justice Department will not file criminal charges against executives at the auto parts maker on allegations of accounting fraud.
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DETROIT (AP) -- The U.S. Justice Department has decided not to file criminal charges against nine former Delphi Corp. officials involving allegations of accounting fraud at the struggling auto parts maker.
In a Nov. 21 letter to a federal judge in Detroit, Steven A. Tyrrell, chief of the department's Fraud Section in Washington, said his office had contacted attorneys for the nine "targets and subjects" of the investigation and "advised them that we had declined prosecution of them."
The letter did not say why the decision was made, but said the government would not prosecute former Chief Executive J.T. Battenberg; former Chief Financial Officer Alan Dawes; former Treasurer and Senior Vice President John Blahnik; former Controller and Chief Accounting Officer Paul Free; former Director of Capital Planning and Pension Analysis Milan Belans; former Director of Financial Accounting and Reporting Catherine Rozanski; former Director of Finance in Delphi's information technology department Judith Kudla; Laura Marion, Delphi's former director of financial accounting and reporting; and former Vice President and Chief Information Officer Peter Janak.
Justice Department spokesman Bryan Sierra on Tuesday confirmed the decision not to prosecute but declined to comment further.
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Plan Objections Delay Delphi Hearing
Thursday November 29, 11:39 am ET
Delphi Postpones Hearing on Disclosure Statement to Dec. 6 to Resolve Plan Objections
DETROIT (AP) -- Auto-supplier Delphi Corp. has delayed a scheduled Thursday hearing on its Chapter 11 disclosure statement as the company tries to resolve objections to its proposed plan amendments.
Delphi spokesman Lindsey Williams said the hearing was rescheduled to Dec. 6 and won't affect the company's plan to emerge from Chapter 11 in the first quarter of 2008.
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Delphi, based in Troy, Mich., has proposed changes in recoveries to creditors, current shareholders and former parent General Motors Corp. after credit market turmoil forced it to seek a smaller exit financing package.
Committees for unsecured creditors and shareholders objected to the amendments, though GM supported the changes.
The disclosure statement must be approved by a bankruptcy court judge before Delphi can send the reorganization plan to creditors for a vote.
"Discussions are continuing with all of the parties," Williams said. "We're trying to resolve the objections that were filed."
Delphi's reorganization is underpinned by a $2.55 billion investment by a group of investors led by hedge fund Appaloosa Management LP.
Earlier this month, a bankruptcy judge authorized Delphi to enter into a preliminary exit financing pact with JPMorgan Securities Inc., JPMorgan Chase Bank and Citigroup Global Markets Inc.
The company was able to begin trying to syndicate the $6.8 billion financing package.
Thursday November 29, 11:39 am ET
Delphi Postpones Hearing on Disclosure Statement to Dec. 6 to Resolve Plan Objections
DETROIT (AP) -- Auto-supplier Delphi Corp. has delayed a scheduled Thursday hearing on its Chapter 11 disclosure statement as the company tries to resolve objections to its proposed plan amendments.
Delphi spokesman Lindsey Williams said the hearing was rescheduled to Dec. 6 and won't affect the company's plan to emerge from Chapter 11 in the first quarter of 2008.
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Delphi, based in Troy, Mich., has proposed changes in recoveries to creditors, current shareholders and former parent General Motors Corp. after credit market turmoil forced it to seek a smaller exit financing package.
Committees for unsecured creditors and shareholders objected to the amendments, though GM supported the changes.
The disclosure statement must be approved by a bankruptcy court judge before Delphi can send the reorganization plan to creditors for a vote.
"Discussions are continuing with all of the parties," Williams said. "We're trying to resolve the objections that were filed."
Delphi's reorganization is underpinned by a $2.55 billion investment by a group of investors led by hedge fund Appaloosa Management LP.
Earlier this month, a bankruptcy judge authorized Delphi to enter into a preliminary exit financing pact with JPMorgan Securities Inc., JPMorgan Chase Bank and Citigroup Global Markets Inc.
The company was able to begin trying to syndicate the $6.8 billion financing package.
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Judge OKs sale of Delphi brake plant: TRW deal gives Saginaw facility new life
NEW YORK, Nov 30, 2007 (Detroit Free Press - McClatchy-Tribune Information Services via COMTEX) -- Delphi Corp. won a judge's approval Thursday to sell its chassis business to a division of TRW Automotive Holdings Corp., breathing new life into a Delphi brake parts plant in Saginaw that this time last year faced the prospect of closure.
The sale makes good on a promise made in June, in Delphi's contract with the UAW, to keep that plant running by teaming up with Delphi's former owner General Motors Corp. to find a buyer. It also brings the Saginaw plant, with 670 hourly workers, into a company that has kept its head above water during the industry's challenging times.
Jim Hurren, president of UAW Local 467, which represents workers at the Saginaw plant, said the sale was the best possible scenario for the plant. "They want to be in the brake business," said Hurren, who credited his members, most of whom have only a year's seniority, with catching on quickly and working hard to attract a new owner. "We've got a good workforce," he said.
Approval of the sale came from U.S. Bankruptcy Judge Robert Drain, who on Thursday is to take up the next key decision in Delphi's case: whether to approve the company's bankruptcy plan so creditors can vote on it.
The plan has been amended twice in part to lower the company's debt and make it easier to secure an exit loan when investment banks, which have lost billions in the mortgage market, have tightened their lending. The plan will be amended a third time before next week's hearing, said Delphi's lead attorney, Jack Butler.
NEW YORK, Nov 30, 2007 (Detroit Free Press - McClatchy-Tribune Information Services via COMTEX) -- Delphi Corp. won a judge's approval Thursday to sell its chassis business to a division of TRW Automotive Holdings Corp., breathing new life into a Delphi brake parts plant in Saginaw that this time last year faced the prospect of closure.
The sale makes good on a promise made in June, in Delphi's contract with the UAW, to keep that plant running by teaming up with Delphi's former owner General Motors Corp. to find a buyer. It also brings the Saginaw plant, with 670 hourly workers, into a company that has kept its head above water during the industry's challenging times.
Jim Hurren, president of UAW Local 467, which represents workers at the Saginaw plant, said the sale was the best possible scenario for the plant. "They want to be in the brake business," said Hurren, who credited his members, most of whom have only a year's seniority, with catching on quickly and working hard to attract a new owner. "We've got a good workforce," he said.
Approval of the sale came from U.S. Bankruptcy Judge Robert Drain, who on Thursday is to take up the next key decision in Delphi's case: whether to approve the company's bankruptcy plan so creditors can vote on it.
The plan has been amended twice in part to lower the company's debt and make it easier to secure an exit loan when investment banks, which have lost billions in the mortgage market, have tightened their lending. The plan will be amended a third time before next week's hearing, said Delphi's lead attorney, Jack Butler.
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www.finanznachrichten.de/...ichten-2007-12/artikel-9603680.asp
03.12.2007 15:25
Delphi braucht mehr Zeit zur Reorganisation ihrer Insolvenz
DJ Delphi braucht mehr Zeit zur Reorganisation ihrer Insolvenz
TROY (Dow Jones)--Die Delphi Corp, (Nachrichten) Troy, hat um eine dreimonatige Verlängerungsfrist bei der Reorganisation ihrer Insolvenz gebeten. Die Kreditkrise habe es für das Unternehmen schwierig gemacht, eine Finanzierung zu erreichen, wie aus beim US-Konkursgericht in Manhattan am Freitag eingereichten Dokumenten hervorgeht.
Delphi bittet darin den Richter, die Frist zur Erstellung eines Insolvenzplans bis zum 31. März 2008 zu verlängern. Diese Frist verstreicht derzeit am 31. Dezember 2007. Zudem möchte Delphi - der größte Zulieferer von Automobilteilen an die General Motors Corp - die Frist, innerhalb derer sie sich die Unterstützung der Gläubiger sichert, bis Ende Mai hinausschieben. Delphi bezeichnete den Schritt als Vorsichtsmaßnahme.
Webseiten: www.delphi.com
www.gm.com
- Von Joseph Rebello, Dow Jones Newswires, ++49 (0) 69 297 25 108,
unternehmen.de@dowjones.com
DJG/DJN/pia/kla
(END) Dow Jones Newswires
December 03, 2007 08:22 ET (13:22 GMT)
Copyright (c) 2007 Dow Jones&Company, Inc.
03.12.2007 15:25
Delphi braucht mehr Zeit zur Reorganisation ihrer Insolvenz
DJ Delphi braucht mehr Zeit zur Reorganisation ihrer Insolvenz
TROY (Dow Jones)--Die Delphi Corp, (Nachrichten) Troy, hat um eine dreimonatige Verlängerungsfrist bei der Reorganisation ihrer Insolvenz gebeten. Die Kreditkrise habe es für das Unternehmen schwierig gemacht, eine Finanzierung zu erreichen, wie aus beim US-Konkursgericht in Manhattan am Freitag eingereichten Dokumenten hervorgeht.
Delphi bittet darin den Richter, die Frist zur Erstellung eines Insolvenzplans bis zum 31. März 2008 zu verlängern. Diese Frist verstreicht derzeit am 31. Dezember 2007. Zudem möchte Delphi - der größte Zulieferer von Automobilteilen an die General Motors Corp - die Frist, innerhalb derer sie sich die Unterstützung der Gläubiger sichert, bis Ende Mai hinausschieben. Delphi bezeichnete den Schritt als Vorsichtsmaßnahme.
Webseiten: www.delphi.com
www.gm.com
- Von Joseph Rebello, Dow Jones Newswires, ++49 (0) 69 297 25 108,
unternehmen.de@dowjones.com
DJG/DJN/pia/kla
(END) Dow Jones Newswires
December 03, 2007 08:22 ET (13:22 GMT)
Copyright (c) 2007 Dow Jones&Company, Inc.
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DELPHI CORP. REGISTERED SHARES DL -,01
WKN: 918726 ISIN:US2471261055 Branche:§Sonstige Kraftfahrzeugi... Land: USA
Times & Sales
Uhrzeit Kurs§letztes Volumen kumuliert
15:36:02 0,189 7.000 1.121.630§
15:34:24 0,185 45.000 1.114.630§
15:29:00 0,19 12.500 1.069.630§
15:27:53 0,19 20.000 1.057.130§
15:24:47 0,214 5.000 1.037.130§
15:24:36 0,204 55.000 1.032.130§
15:23:46 0,20 10.000 977.130§
15:23:26 0,199 10.000 967.130§
WKN: 918726 ISIN:US2471261055 Branche:§Sonstige Kraftfahrzeugi... Land: USA
Times & Sales
Uhrzeit Kurs§letztes Volumen kumuliert
15:36:02 0,189 7.000 1.121.630§
15:34:24 0,185 45.000 1.114.630§
15:29:00 0,19 12.500 1.069.630§
15:27:53 0,19 20.000 1.057.130§
15:24:47 0,214 5.000 1.037.130§
15:24:36 0,204 55.000 1.032.130§
15:23:46 0,20 10.000 977.130§
15:23:26 0,199 10.000 967.130§
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bei den tollen und vielen news der letzten tage muss doch bald der kurs explodieren.
07.12.2007 17:34
Judge approves Delphi plan changes
NEW YORK (AP) - A judge in the Delphi bankruptcy case on Friday approved changes to a plan by investors to inject as much as $2.55 billion into the auto parts maker, moving it closer to an exit from court protection.
Hedge fund Appaloosa Management LP and five other investors would get equity stakes in a reorganized Delphi Corp. (Nachrichten) They are the lead investors in a plan that is key to the company's ability to emerge from bankruptcy.
The group has twice received the court's approval for different versions of its proposal, and this latest approval was designed to clear the way to a vote on the company's Chapter 11 plan.
Appaloosa founder David Tepper said Thursday, 'We made a deal. We're just trying to get it done. We'd like to see this thing come out of bankruptcy, if we can.'
The Troy, Mich.-based company had faced opposition to the equity plan from creditors, shareholders and the International Union of Electronic Workers of America, a labor union representing the second largest group of Delphi workers. They had opposed a Nov. 14 proposal that was made to be more favorable to the equity investors led by Appaloosa, at the expense of creditors and current shareholders. But earlier this week, Delphi reached an agreement that cleared the way to the judge's approval.
That agreement, announced Monday, decreased slightly the discount investors will get on new shares, but increased a dividend they will get on preferred shares.
The investor group led by Appaloosa also includes Harbinger Capital Partners Master Fund I Ltd.; Merrill Lynch, Pierce, Fenner&Smith Inc.; UBS Securities LLC; Pardus Capital Management LP, and Goldman Sachs Group Inc.
Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
07.12.2007 17:34
Judge approves Delphi plan changes
NEW YORK (AP) - A judge in the Delphi bankruptcy case on Friday approved changes to a plan by investors to inject as much as $2.55 billion into the auto parts maker, moving it closer to an exit from court protection.
Hedge fund Appaloosa Management LP and five other investors would get equity stakes in a reorganized Delphi Corp. (Nachrichten) They are the lead investors in a plan that is key to the company's ability to emerge from bankruptcy.
The group has twice received the court's approval for different versions of its proposal, and this latest approval was designed to clear the way to a vote on the company's Chapter 11 plan.
Appaloosa founder David Tepper said Thursday, 'We made a deal. We're just trying to get it done. We'd like to see this thing come out of bankruptcy, if we can.'
The Troy, Mich.-based company had faced opposition to the equity plan from creditors, shareholders and the International Union of Electronic Workers of America, a labor union representing the second largest group of Delphi workers. They had opposed a Nov. 14 proposal that was made to be more favorable to the equity investors led by Appaloosa, at the expense of creditors and current shareholders. But earlier this week, Delphi reached an agreement that cleared the way to the judge's approval.
That agreement, announced Monday, decreased slightly the discount investors will get on new shares, but increased a dividend they will get on preferred shares.
The investor group led by Appaloosa also includes Harbinger Capital Partners Master Fund I Ltd.; Merrill Lynch, Pierce, Fenner&Smith Inc.; UBS Securities LLC; Pardus Capital Management LP, and Goldman Sachs Group Inc.
Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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AP
Judge Approves Delphi Plan Changes
Friday December 7, 11:16 am ET
By Vinnee Tong, AP Business Writer
Bankruptcy Judge Approves Changes to $2.55 Billion Delphi Investment Agreement
NEW YORK (AP) -- A judge in the Delphi bankruptcy case on Friday approved changes to a plan by investors to inject as much as $2.55 billion into the auto parts maker, moving it closer to an exit from court protection.
ADVERTISEMENT
Hedge fund Appaloosa Management LP and five other investors would get equity stakes in a reorganized Delphi Corp. They are the lead investors in a plan that is key to the company's ability to emerge from bankruptcy.
The group has twice received the court's approval for different versions of its proposal, and this latest approval was designed to clear the way to a vote on the company's Chapter 11 plan.
Appaloosa founder David Tepper said Thursday, "We made a deal. We're just trying to get it done. We'd like to see this thing come out of bankruptcy, if we can."
The Troy, Mich.-based company had faced opposition to the equity plan from creditors, shareholders and the International Union of Electronic Workers of America, a labor union representing the second largest group of Delphi workers. They had opposed a Nov. 14 proposal that was made to be more favorable to the equity investors led by Appaloosa, at the expense of creditors and current shareholders. But earlier this week, Delphi reached an agreement that cleared the way to the judge's approval.
That agreement, announced Monday, decreased slightly the discount investors will get on new shares, but increased a dividend they will get on preferred shares.
The investor group led by Appaloosa also includes Harbinger Capital Partners Master Fund I Ltd.; Merrill Lynch, Pierce, Fenner & Smith Inc.; UBS Securities LLC; Pardus Capital Management LP, and Goldman Sachs Group Inc.
Judge Approves Delphi Plan Changes
Friday December 7, 11:16 am ET
By Vinnee Tong, AP Business Writer
Bankruptcy Judge Approves Changes to $2.55 Billion Delphi Investment Agreement
NEW YORK (AP) -- A judge in the Delphi bankruptcy case on Friday approved changes to a plan by investors to inject as much as $2.55 billion into the auto parts maker, moving it closer to an exit from court protection.
ADVERTISEMENT
Hedge fund Appaloosa Management LP and five other investors would get equity stakes in a reorganized Delphi Corp. They are the lead investors in a plan that is key to the company's ability to emerge from bankruptcy.
The group has twice received the court's approval for different versions of its proposal, and this latest approval was designed to clear the way to a vote on the company's Chapter 11 plan.
Appaloosa founder David Tepper said Thursday, "We made a deal. We're just trying to get it done. We'd like to see this thing come out of bankruptcy, if we can."
The Troy, Mich.-based company had faced opposition to the equity plan from creditors, shareholders and the International Union of Electronic Workers of America, a labor union representing the second largest group of Delphi workers. They had opposed a Nov. 14 proposal that was made to be more favorable to the equity investors led by Appaloosa, at the expense of creditors and current shareholders. But earlier this week, Delphi reached an agreement that cleared the way to the judge's approval.
That agreement, announced Monday, decreased slightly the discount investors will get on new shares, but increased a dividend they will get on preferred shares.
The investor group led by Appaloosa also includes Harbinger Capital Partners Master Fund I Ltd.; Merrill Lynch, Pierce, Fenner & Smith Inc.; UBS Securities LLC; Pardus Capital Management LP, and Goldman Sachs Group Inc.
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den nächsten tagen/wochen hin geht.
ich bin jedenfalls optimistisch und bleibe investiert...
sollten das mit den investoren klappen sehen wir kurzfristig viel höhere kurse
ich bin jedenfalls optimistisch und bleibe investiert...
sollten das mit den investoren klappen sehen wir kurzfristig viel höhere kurse
Press Releases
Delphi celebrates 10 years and plans further growth in Romania
Release Date: December 07, 2007
Sannicolau Mare, Romania — Delphi organization celebrates 10 years of doing business in Romania, at the same time expanding with the recently announced new diesel engine management system (EMS) components plant in Iasi.
The company has been operating in the country since 1997 when the first plant in Sannicolau Mare was opened. Today, Delphi's two manufacturing Electrical/ Electronic Architecture (EEA) facilities in Sannicolau Mare and Ineu (northwest of Romania) employ collectively 10,000 people.
The anniversary creates a great occasion to summarize achievements and recognize employees who have been with Delphi from the beginning. Special events with personnel in Sannicolau Mare and Ineu took place in early December during which local authorities recognized Delphi for its commitment to development in the region.
"Having worked together for a decade, we built a team of professionals that still has perspective for further growth," said Cristian Gulicska, Delphi Packard EEA Romania Country Director. "We faced numerous challenges and proved that we are ready for further opportunities. From a time perspective, we consider the decision to establish operations in Romania successful."
Delphi's investment criteria for Romania, as for all new regions, were to follow the group's vehicle-maker customers, develop a skilled workforce, use the existing infrastructure and obtain local government support.
Electrical/ Electronic Architecture plant in Sannicolau Mare and Ineu
Delphi celebrates 10 years and plans further growth in Romania
Release Date: December 07, 2007
Sannicolau Mare, Romania — Delphi organization celebrates 10 years of doing business in Romania, at the same time expanding with the recently announced new diesel engine management system (EMS) components plant in Iasi.
The company has been operating in the country since 1997 when the first plant in Sannicolau Mare was opened. Today, Delphi's two manufacturing Electrical/ Electronic Architecture (EEA) facilities in Sannicolau Mare and Ineu (northwest of Romania) employ collectively 10,000 people.
The anniversary creates a great occasion to summarize achievements and recognize employees who have been with Delphi from the beginning. Special events with personnel in Sannicolau Mare and Ineu took place in early December during which local authorities recognized Delphi for its commitment to development in the region.
"Having worked together for a decade, we built a team of professionals that still has perspective for further growth," said Cristian Gulicska, Delphi Packard EEA Romania Country Director. "We faced numerous challenges and proved that we are ready for further opportunities. From a time perspective, we consider the decision to establish operations in Romania successful."
Delphi's investment criteria for Romania, as for all new regions, were to follow the group's vehicle-maker customers, develop a skilled workforce, use the existing infrastructure and obtain local government support.
Electrical/ Electronic Architecture plant in Sannicolau Mare and Ineu
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08.12.2007 00:13
Delphi can begin bankruptcy vote process
NEW YORK (AP) - Delphi Corp. (Nachrichten) can begin soliciting votes for its plan to exit bankruptcy, the company's lawyer said on Friday, a major step toward letting the auto parts maker proceed with a restructuring that would shed thousands of jobs in plants across the country.
Delphi attorney Jack Butler said bankruptcy judge Robert Drain verbally approved the order on Friday and that if all changes the judge requested meet his requirements, he would enter an order on Monday.
Delphi's reorganization plan includes shrinking its unionized work force to a fraction of its former size and shifting manufacturing overseas.
Its proposal would ultimately eliminate 27,000 of 33,000 union jobs and would sell or close 20 factories across the nation and one in Mexico. Remaining and future workers are left with a two-tier wage structure, with new United Auto Workers members earning wages of $14- to $18.50-an hour, down from $27 per hour.
The company expects to begin sending voting material to about 500,000 creditors Dec. 15 and has scheduled a hearing to begin Jan. 17 to confirm its plan. Unsecured creditors -- who would receive 100 percent on their claims as stock and rights to purchase discounted shares -- have until Jan. 11 to decide.
Once it emerges from court protection, the company ultimately plans to employ 6,000 hourly workers at eight U.S. plants, with another two factories running temporarily. It has pinned its future growth on higher revenue from operations in Europe, Asia and South America.
Delphi can begin bankruptcy vote process
NEW YORK (AP) - Delphi Corp. (Nachrichten) can begin soliciting votes for its plan to exit bankruptcy, the company's lawyer said on Friday, a major step toward letting the auto parts maker proceed with a restructuring that would shed thousands of jobs in plants across the country.
Delphi attorney Jack Butler said bankruptcy judge Robert Drain verbally approved the order on Friday and that if all changes the judge requested meet his requirements, he would enter an order on Monday.
Delphi's reorganization plan includes shrinking its unionized work force to a fraction of its former size and shifting manufacturing overseas.
Its proposal would ultimately eliminate 27,000 of 33,000 union jobs and would sell or close 20 factories across the nation and one in Mexico. Remaining and future workers are left with a two-tier wage structure, with new United Auto Workers members earning wages of $14- to $18.50-an hour, down from $27 per hour.
The company expects to begin sending voting material to about 500,000 creditors Dec. 15 and has scheduled a hearing to begin Jan. 17 to confirm its plan. Unsecured creditors -- who would receive 100 percent on their claims as stock and rights to purchase discounted shares -- have until Jan. 11 to decide.
Once it emerges from court protection, the company ultimately plans to employ 6,000 hourly workers at eight U.S. plants, with another two factories running temporarily. It has pinned its future growth on higher revenue from operations in Europe, Asia and South America.
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08.12.2007 00:13
Delphi can begin bankruptcy vote process
NEW YORK (AP) - Delphi Corp. (Nachrichten) can begin soliciting votes for its plan to exit bankruptcy, the company's lawyer said on Friday, a major step toward letting the auto parts maker proceed with a restructuring that would shed thousands of jobs in plants across the country.
Delphi attorney Jack Butler said bankruptcy judge Robert Drain verbally approved the order on Friday and that if all changes the judge requested meet his requirements, he would enter an order on Monday.
Delphi's reorganization plan includes shrinking its unionized work force to a fraction of its former size and shifting manufacturing overseas.
Its proposal would ultimately eliminate 27,000 of 33,000 union jobs and would sell or close 20 factories across the nation and one in Mexico. Remaining and future workers are left with a two-tier wage structure, with new United Auto Workers members earning wages of $14- to $18.50-an hour, down from $27 per hour.
The company expects to begin sending voting material to about 500,000 creditors Dec. 15 and has scheduled a hearing to begin Jan. 17 to confirm its plan. Unsecured creditors -- who would receive 100 percent on their claims as stock and rights to purchase discounted shares -- have until Jan. 11 to decide.
Once it emerges from court protection, the company ultimately plans to employ 6,000 hourly workers at eight U.S. plants, with another two factories running temporarily. It has pinned its future growth on higher revenue from operations in Europe, Asia and South America.
Delphi can begin bankruptcy vote process
NEW YORK (AP) - Delphi Corp. (Nachrichten) can begin soliciting votes for its plan to exit bankruptcy, the company's lawyer said on Friday, a major step toward letting the auto parts maker proceed with a restructuring that would shed thousands of jobs in plants across the country.
Delphi attorney Jack Butler said bankruptcy judge Robert Drain verbally approved the order on Friday and that if all changes the judge requested meet his requirements, he would enter an order on Monday.
Delphi's reorganization plan includes shrinking its unionized work force to a fraction of its former size and shifting manufacturing overseas.
Its proposal would ultimately eliminate 27,000 of 33,000 union jobs and would sell or close 20 factories across the nation and one in Mexico. Remaining and future workers are left with a two-tier wage structure, with new United Auto Workers members earning wages of $14- to $18.50-an hour, down from $27 per hour.
The company expects to begin sending voting material to about 500,000 creditors Dec. 15 and has scheduled a hearing to begin Jan. 17 to confirm its plan. Unsecured creditors -- who would receive 100 percent on their claims as stock and rights to purchase discounted shares -- have until Jan. 11 to decide.
Once it emerges from court protection, the company ultimately plans to employ 6,000 hourly workers at eight U.S. plants, with another two factories running temporarily. It has pinned its future growth on higher revenue from operations in Europe, Asia and South America.
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08.12.2007 00:13
Delphi can begin bankruptcy vote process
NEW YORK (AP) - Delphi Corp. (Nachrichten) can begin soliciting votes for its plan to exit bankruptcy, the company's lawyer said on Friday, a major step toward letting the auto parts maker proceed with a restructuring that would shed thousands of jobs in plants across the country.
Delphi attorney Jack Butler said bankruptcy judge Robert Drain verbally approved the order on Friday and that if all changes the judge requested meet his requirements, he would enter an order on Monday.
Delphi's reorganization plan includes shrinking its unionized work force to a fraction of its former size and shifting manufacturing overseas.
Its proposal would ultimately eliminate 27,000 of 33,000 union jobs and would sell or close 20 factories across the nation and one in Mexico. Remaining and future workers are left with a two-tier wage structure, with new United Auto Workers members earning wages of $14- to $18.50-an hour, down from $27 per hour.
The company expects to begin sending voting material to about 500,000 creditors Dec. 15 and has scheduled a hearing to begin Jan. 17 to confirm its plan. Unsecured creditors -- who would receive 100 percent on their claims as stock and rights to purchase discounted shares -- have until Jan. 11 to decide.
Once it emerges from court protection, the company ultimately plans to employ 6,000 hourly workers at eight U.S. plants, with another two factories running temporarily. It has pinned its future growth on higher revenue from operations in Europe, Asia and South America.
Delphi can begin bankruptcy vote process
NEW YORK (AP) - Delphi Corp. (Nachrichten) can begin soliciting votes for its plan to exit bankruptcy, the company's lawyer said on Friday, a major step toward letting the auto parts maker proceed with a restructuring that would shed thousands of jobs in plants across the country.
Delphi attorney Jack Butler said bankruptcy judge Robert Drain verbally approved the order on Friday and that if all changes the judge requested meet his requirements, he would enter an order on Monday.
Delphi's reorganization plan includes shrinking its unionized work force to a fraction of its former size and shifting manufacturing overseas.
Its proposal would ultimately eliminate 27,000 of 33,000 union jobs and would sell or close 20 factories across the nation and one in Mexico. Remaining and future workers are left with a two-tier wage structure, with new United Auto Workers members earning wages of $14- to $18.50-an hour, down from $27 per hour.
The company expects to begin sending voting material to about 500,000 creditors Dec. 15 and has scheduled a hearing to begin Jan. 17 to confirm its plan. Unsecured creditors -- who would receive 100 percent on their claims as stock and rights to purchase discounted shares -- have until Jan. 11 to decide.
Once it emerges from court protection, the company ultimately plans to employ 6,000 hourly workers at eight U.S. plants, with another two factories running temporarily. It has pinned its future growth on higher revenue from operations in Europe, Asia and South America.
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