This is no big surprise. It's been rumored for some time. As far as share price, I think it depends on who they put in there. Right now there's a vacuum. If they put someone in who is shareholder-oriented, it should help.
More Quotes from Rod Lache:
The primary reason for our change of thinking is that there may be a legitimate argument that GM and the UAW would be better off if Delphi files,Rod Lache
Sales of 16 million now looks a lot less profitable than 16 million did a few years ago,
Rod Lache
I think it's almost impossible for Ford to distance themselves from the problem, but I think they've done a very good job conveying responsiveness to the U.S. consumer, obviously being more responsive than Firestone has.
Rod Lache
No matter what it looks like, reaching a deal will involve some cost to GM, ... But on the positive side, we believe that GM will likely avoid a potentially devastating shutdown of its North American operations.
Rod Lache
I don't see this as resulting in anything dramatically negative. Over time, you'll see incentives rising everywhere. But it's not anything scary yet.
Rod Lache
Investors will have fresh questions about the feasibility of the company's 1 billion material cost savings goal in 2006. This is clearly a bad situation, but maybe not as bad as it originally appears.
Rod Lache
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