Miller on Delphi: "We Have Fixed the Business"

Robert Farago
by Robert Farago

Yes, Delphi CEO Steve "Take the money and then take some more" Miller is declaring mission accomplished. Automotive News [sub] reports the generous self-assessment– considering the recent collapse of the bankrupt parts maker's bailout plan. Not-so-coincidentally, Miller indulged in the entirely unjustifiable double-jointed back patting at the Automotive Press Association launch of his [twice delayed] autobiographical biz book: The Turnaround Kid. (Kid? Who's kidding whom?) Just in case you thought Miller was the unassailable captain of the ship that his book paints him to be, Miller revealed "he's not a big fan of his book's title — chosen by the publisher — because it suggests a 'tinge of arrogance.' The first title suggested for the book was Not Worth a Buck, a reference to UAW criticism and his $1-a-year salary during the first phase of the bankruptcy" [emphasis added]. Anyway, after declaring Delphi's exit from C11 a done deal, Miller takes a deep breath and promises that, well, it will be. "We will get it done. It won't get done in weeks. It'll be months, but we will get it done."

Robert Farago
Robert Farago

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  • Guyincognito Guyincognito on Apr 16, 2008

    With their stock hovering around $0.13/share it is mighty tempting to believe Delphi has a shot. However, with a CEO that out of touch with reality I can't sink my money into it.

  • Rix Rix on Apr 16, 2008

    Steve Miller fixed Delphi like the mob fixed Jimmy Hoffa.

  • 50merc 50merc on Apr 16, 2008

    Delphi's fixed? Yeah, like a dog that went to the vet and got fixed.

  • Jthorner Jthorner on Apr 17, 2008

    Surgeon to Miller: You have been fixed as well.