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 DETROIT (AP) - Shares of Delphi Corp. fell sharply Friday following the release of what are said to be the auto parts supplier's most recent demands on the United Auto Workers union, in addition to yet another hit to the company's already-battered credit rating.
In morning trading, shares of Delphi skidded 47 cents, or 21 percent, to $1.74 on the New York Stock Exchange, an all-time low.
UAW officials, including Local 699 President Al Coven in Saginaw, Mich., late Thursday said Delphi is looking for wage cuts to as low as $10 an hour as part of its move to restructure its money-losing business in North America.
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