Delphi Bankruptcy

[AmyPrib]

We had a company meeting this morning. Chapter 11 does not mean we can't pay our suppliers. In fact, we have money to pay our suppliers and at this point are not worried about that at all. Our suppliers and customers have also managed to lower their anxiousness on our ability to deliver, so they have some confidence in us. This is what we were told as FACTS from the many meetings and phone calls between the executives. If you have not been in those calls or have not talked to someone directly involved in those calls, it would be appreciated to keep the suspicion, rumors, and opinions on what it all means out of topic until more FACTS are known.

It will be up to the judges as to what happens in various aspects. Until those FACTS are known and announced by direct sources, nobody knows exactly what will happen. Our management (executives) seem to be very open and blunt with us as to what is happening, with the information that they KNOW at this point. It is not for any of us that even work here, let alone those who are just guessing, to say what the near future holds.

Do not speculate on the gloom and doom of Kokomo as a city or the companies within it. You cannot say "and if Chrysler follows", you have no clue. I am disappointed in a few of the posts of this nature and the "I think, I heard" statements. There are numerous other companies that file Chapter 11 and come out of it just fine. There are obviously compromises and negotiations along the way, but in the end, the company doesn't typically fold.

There's a Kokomo newspaper that had a huge headline today "BANKRUPT". That is entirely incorrect!! That shows a lack of understanding by our own news sources, and just points out how you cannot believe everything you "hear". It shows what happens when people write/report before they get the facts.

Sorry, had to get that out. I really don't think we can speculate on the future funding of Delphi teams either, until it becomes FACT that teams actually start losing their sponsorship due to this reorganization. My guess is that most Delphi teams have been prepared for this and have thought about it. So, even if there is some loss, they are smart enough to find a way to carry on... Let's focus on the positive people.