Delphi files for bankruptcy protection

CHICAGO (Reuters) – Delphi Corp. on Saturday filed for
bankruptcy, succumbing to high wage and benefit costs inherited
from former parent General Motors Corp., the largest bankruptcy
in U.S. automotive history.

Delphi, the largest U.S. auto parts supplier, filed for
Chapter 11 bankruptcy protection for itself and 38 U.S. units
in the U.S. Bankruptcy Court in New York. Non-U.S. units were
not included.