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February 28, 2007

Losses increase at Delphi

Bankrupt Delphi Corp., the leading American auto-parts maker, said its fourth-quarter loss increased to $853 million due to costs to reduce its unionized workforce, according to the Detroit Free Press. The Troy-based company, which said sales fell 5.9% to $6.4 billion, was spun off from General Motors Corp. in 1999 and is cutting costs in an effort to emerge from bankruptcy protection.

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Peter C. T. Elsworth
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