Kept the stockholders and Wall Street happy. The same ones now clamoring for bankruptcy and shedding "legacy costs." By the way, Didn't I just read how GM is not pursuing cost reductions (for the time being) from Delphi when every other supplier is being approached? Can't have it both ways. Either GM must get costs under control, or they have to treat their suppliers better. Which is it?
There's a good reason for that. Delphi was going to ask the bankruptcy judge to void it's union contracts on Dec 16 (which the judge would have done.) Then Delphi was going to try to impose its pay cuts on its workers (less likely that the judge would have allowed the full cuts, but likely very substantial ones.) GM's pushing off Delphi's price reductions gives Delphi more time to try to come to an agreement with the unions thus avoiding what would likely be a devastating strike (for GM) on Delphi.