White Trash food, canning, pies, beets, turkey, bread pudding, asparagus, potlucks, sweet potatoes, rhubarb, spinach, Easter bunnies, jellybeans, ice cream, apricots, and dog food served as paté
3:58 p.m., Feb. 19
The auction for assets of bankrupt auto parts maker Delphi was delayed again by the New York bankruptcy court -- from yesterday (July 21) to Friday. Beverly Hills-based Platinum Equity, the buyout firm that now owns the Union-Tribune, is bidding to take over Delphi with a huge subsidy from General Motors, which is controlled by the U.S. government. Creditors, who stand to make 20 cents on the dollar, have called it a sweetheart deal. Court documents indicate that creditors have voted against the plan: of seventeen classes of creditors, ten voted against it, two for it and five didn't vote, according to the Associated Press. Creditors may put together a bid for Delphi on Friday.
Says Reuters, quoting sources, "Talks between Delphi and its lenders have been progressing toward a compromise deal that would supersede a bid by private equity firm Platinum Equity favored by GM and the U.S. Treasury."