Delphi says GM owes $26 billion
NEW YORK — General Motors Corp. owes $26 billion to Delphi Corp., an investor committee for the auto parts maker said in a bankruptcy court filing.
The committee representing shareholders at Delphi said in papers filed late Monday that its calculation shows the automaker has obligations to its biggest supplier, which was spun off from GM in 1999.
GM, for its part, has filed an unsecured multibillion-dollar claim against Delphi, the Troy, Mich.-based supplier said in papers filed last month. The automaker aided Delphi in funding buyout programs for members of its two biggest unions, though it retained the right to recoup those contributions once Delphi emerges from court protection.
The equity committee made the assertion in a document to oppose a motion brought by Delphi’s bondholders that will be considered Sept. 14. Judge Robert Drain of the Southern District of New York is scheduled to consider a request from the creditors committee whether it can sue GM and certain former Delphi executives.
The creditors committee said, and the equity committee agreed, that GM used the spin-off to pass on certain retirement, health care and labor costs to Delphi, crippling it and eventually pushing it into bankruptcy. But the bondholders have also asked for a more significant role in ongoing negotiations between GM, Delphi and labor unions.
“Comcast Corp., the country’s largest cable operator, said Wednesday that it will hire more than 3,000 people nationwide by the end of the year to keep pace with the increasing popularity of its bundled package of cable TV, high-speed Internet and digital voice service.
Comcast said most of the jobs will be in customer service or service installation. It could ramp up hiring again next year if customer demand stays strong, the company said.
Comcast employs 80,000 people nationwide. It serves 23.3 million cable customers in 36 states.
“Apple Computer Inc. on Wednesday updated its iMac line with Intel Corp.’s latest microprocessors.
The Intel Core 2 Duo processor, which was launched by the world’s largest chip maker this summer, is faster than the Intel chips previously used in the iMac and other Macintosh computers.
Also Wednesday, Apple unveiled a new version of its consumer desktop computer — an iMac with a 24-inch screen. With a 2.16-gigahertz chip, the high-end computer retails for $1,999.