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Obama may push Delphi exit

Posted on May 29, 2009 6:29 PM
Auto parts maker Delphi Corp. is reportedly considering a new strategy to end its more than three-year stay in bankruptcy protection.

Delphi, in Chapter 11 since October 2005, earlier this week asked for an extension until June 2 to file a plan of reorganization. The request fueled talk that the company, a unit of General Motors Corp. until 1999, is nearing a deal with GM, the government and key creditors on an exit plan.

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