Delphi gets court approval to sell steering unit

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Automotive News | February 21, 2008 - 2:00 pm EST
 
 
DETROIT (Reuters) — Bankrupt auto parts supplier Delphi Corp.said today it had received final bankruptcy court approval to sell off its steering business to a unit of private equity firm Platinum Equity LLC.
The transaction is expected to close March [...]

Thursday, February 21, 2008
GMAC will slash 930 jobs
Financial company will close 15 field offices and idle 930 workers after posting $4.3B deficit in 2007.
Sharon Terlep / The Detroit News
With its massive mortgage operations deep in red ink, financial firm GMAC LLC is now moving to slash costs on the still-lucrative auto lending side of its [...]

GM dedicates new Mexican transmission plant

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Stephen Downer
Automotive News | February 21, 2008 - 9:38 am EST
 
 
SILAO, Mexico — General Motors dedicated a $660 million transmission plant at its vehicle assembly, engine and stamping complex here Tuesday, Feb. 19.
The plant began operations about a month ago. It has an installed capacity of 1,500 six-speed transmissions [...]