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Non-Tech : Delphi Automotive Systems (DPH)

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From: David C. Burns	10/1/2004 9:15:47 AM
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Delphi deal with EDS being investigated By the Associated Press DETROIT \| The Securities and Exchange Commission is investigating transactions between auto supplier Delphi Corp. and Electronic Data Systems Corp., its longtime supplier of information technology services. In an 8-K filing with the SEC on Wednesday, Delphi said the investigation centers on the accounting treatment of $46 million in payments made and credits given by EDS to Delphi in 2000 and 2001, and $40.5 million in payments Delphi made to EDS for IT services in 2002 and 2003. Delphi, the world's largest automotive supplier and a former General Motors Corp. division, said it received a subpoena from the SEC in July and a formal order of investigation from the federal regulatory agency in August. The SEC has since advised Troy, Mich.-based Delphi that it is looking into the accounting treatment of payments Delphi received from other IT suppliers. Find this article at: daytondailynews.com

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