Government assumes auto-parts maker Delphi's pension liabilities

07/23/2009 |

The Pension Benefit Guaranty Corp. will take over pension plans of Delphi, an auto-parts company once owned by General Motors, the government said, reversing an earlier demand that assets of Delphi and GM be used to pay pension obligations. The federal pension guarantor might have changed its position because the tough stance was hindering the Obama administration's efforts to quickly restructure the auto industry, analysts said.

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