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Unread 10-10-2005, 15:20
Travis Hoffman's Avatar Unsung FIRST Hero
Travis Hoffman Travis Hoffman is offline
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FRC #0048 (Delphi E.L.I.T.E.)
Team Role: Engineer
 
Join Date: Sep 2001
Rookie Year: 2001
Location: Warren, Ohio USA
Posts: 4,047
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Re: Delphi Bankruptcy

The wait-and-see approach many have suggested here pertains only to minimizing the uninformed public speculation on the Delphi restructuring and how it affects FIRST and the Delphi-sponsored teams. By no means are we implying that Delphi teams should just sit back and do nothing within their organizations to prepare for the worst. In reality, Team 48's mentors have been well aware of the potential reduction in funding any form of major restructuring may bring, and we've been preparing for this occasion for a long time. Our fundraising and alternate funding levels are such that I can confidently say Team 48 will be a participant in the 2006 FIRST Robotics Competition.

As was mentioned by Joe Johnson and Andy Baker in the other thread started a while back regarding this matter, many Delphi teams have seen a steady reduction in funding from the corporation over the years. As this has happened, many, Team 48 included, have sought out alternate funding sources and employed increased cost-saving measures. Increased reliance on these practices can only benefit us in the event of a more drastic reduction in funding.

But once again, money shouldn't be the primary focus here. Out of all the sources of capital a FIRST team has, I believe human capital is most important. While it certainly is a challenging task, a team's students and teachers can replace lost funding by working harder to fundraise, cut costs, and streamline the team operations. As many teams have found out though, including my own, replacing the experience and leadership of lost local technical mentors can be the most difficult challenge of all.

If any of you would like to find out more facts about Delphi's Chapter 11 filing or bankruptcy law in general, the law firm Delphi has retained to manage the Chapter 11 court proceedings has established a website to release relevant information and/or required documents to the media and the public. This is freely available information:

http://www.delphidocket.com

Hopefully, this site will serve to further reduce/eliminate any speculation and misinformation being posted in this thread.
__________________

Travis Hoffman, Enginerd, FRC Team 48 Delphi E.L.I.T.E.
Encouraging Learning in Technology and Engineering - www.delphielite.com
NEOFRA - Northeast Ohio FIRST Robotics Alliance - www.neofra.com
NEOFRA / Delphi E.L.I.T.E. FLL Regional Partner

Last edited by Travis Hoffman : 10-10-2005 at 15:40.
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