Delphic dealings

Delphi: Parnassus is the mountain that looms over Delphi in Greece. It’s also a name that has been hanging over creditors of the other Delphi – the US car parts maker close to emerging from a 3½-year bankruptcy. A deal brokered with former parent General Motors, President Barack Obama’s auto task force and a private equity group had lenders crying foul. Until a couple of months ago the plan was, roughly speaking, for Delphi - already with some funding from GM - to offload some US operations t...