Federal judge approves large investment in Delphi

| 1/15/2007

A federal bankruptcy court has approved a plan by a group of investors to pour nearly $3.5 billion into the financially strapped auto parts supplier Delphi Corp.

According to The Chicago Tribune, the deal is supported by GM – Delphi’s former parent company – and by Delphi’s unions, and includes a pledge by General Motors to take back as many as 5,000 laid-off Delphi workers.