Business
Delphi Court Motions
Delphi Court Motions.
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[{"type":"text","content":"\n \n GM Statement On Delphi Court Motions\n\n DETROIT, March 31 -- General Motors Corp. (NYSE: GM) today said it is \ndisappointed with Delphi Corp.'s (DPHIQ) decision to seek authority to reject \ncertain supply contracts with GM but it remains committed to working with \nDelphi and its unions to reach a consensual agreement.\n \"We disagree with Delphi's approach but we anticipated that this step \nmight be taken,\" said Rick Wagoner, GM chairman and chief executive officer. \n\"GM expects Delphi to honor its public commitments to avoid any disruption to \nGM operations.\" \n Delphi's motion for authority to reject certain GM supply contracts, as \nwell as the company's motion to reject its labor contracts, is consistent with \npast practices of other suppliers in Chapter 11. \n \"Motions to reject labor agreements are fairly common in reorganization \nproceedings and we have seen this approach play out to agreed resolutions in \nother cases,\" Wagoner said. \"GM will continue to work with Delphi, its unions \nand the court to achieve a consensual agreement that makes sense and is \nfinancially viable for all of the parties. We believe the special attrition \nprogram we agreed to with the UAW and Delphi last week is indicative of GM's \ncommitment to reaching such an agreement.\"\n GM's objective in the Delphi reorganization remains to ensure that Delphi \ncan continue as a viable important supplier to GM on terms that make sense for \nboth GM and its stockholders.\n\nSOURCE General Motors Corporation\n -0- 03/31/2006 P\n /NOTE TO EDITORS: For additional media information visit \nhttp://media.gm.com ./ \n /CONTACT: Jerry Dubrowski, +1-212-418-6261, Mobile: +1-917-544-4885, or \nToni Simonetti, +1-212-418-6380, Mobile: +1-917-822-3392, both of General \nMotors Corporation/\n /Web site: http://media.gm.com \n http://www.gm.com /\n (GM DPHIQ)\n\n\n \n \n \n \n\n\n \n ","length":1988,"tagName":"div"}]