Delphi Gets Go Ahead To Leave Bankruptcy Protection

After nearly four years in bankruptcy, a federal judge on Thursday approved a path for Delphi Corp. to exit Chapter 11 protection.

Judge Robert Drain approved a deal to sell Delphis assets to a group of lenders who kept the auto parts-producing company operating since October 2005, when Delphi first sought Chapter 11 protection.

Today, Delphi is a mere shadow of what it once was in the Dayton area.

In 1999, the year General Motors Corp. spun Delphi, its parts-making arm, off to independence, the company had 15,000 Dayton employees. Today, the company has one plant which continues to operate locally, a thermal products facility with about 200 employees off Northwoods Boulevard in Vandalia.

"It's disheartening," said Joe Buckley, former president of United Auto Workers Local 696, which at one time represented Delphi workers at the companys now-closed Needmore Road plant. "It's just unthinkable."

In April 2008, Delphi nearly exited bankruptcy, but potential investors walked away from a $6.1 billion bankruptcy exit financing deal at what appeared to be the last moment.