General Motors spun off much of its parts business, Delphi, in 1999. The idea was to lower costs for GM by allowing more competitive bidding (rather than giving Delphi an in-house advantage), and to increase Delphi’s sales by separating it from GM. The end result, however, was a disaster for General Motors. Delphi declared bankruptcy [...]
Chrysler LLC Chairman and Chief Executive Bob Nardelli read the following statement to the U.S. Senate Committee on Banking, Housing and Urban Affairs, on Nov. 18, 2008:
Mr. Chairman, members of the Committee, I appreciate this opportunity to address the current economic and financial crisis, the impact it is having on the automotive industry, and the [...]
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