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 I remember...my first nationals in 1998, when I was in High School, and thinking "Wow, that's really cool. Engineering looks fun..." - Karthik [more] |
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| I remember...my first nationals in 1998, when I was in High School, and thinking "Wow, that's really cool. Engineering looks fun..." - Karthik [more] |
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#32
10-10-2005, 23:20
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Re: Delphi Bankruptcy
Just to help some people understand what can happen after filing Chapter 11.
Kmart filed Chapter 11 in early 2002, emerged from bankruptcy in May 2003, and announced it would buy/merge with Sears in Nov 2005. While this is listed as a merger, it is Kmart that is bailing out Sears. The point is that filing for Chapter 11 should help Delphi financially in the long run. There is still a possiblity for some short-term pain. As Delphi makes changes and tries to be more competitive, the pain most likely will be felt by its workers. How it will effect the support that Delphi gives to FIRST teams is unknown. Personally, If I were connected with a FIRST team that is supported by Delphi, I would rather that the team do without Delphi money instead of someone getting laid off. Just my .02 
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