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Published: Saturday, 12/27/2008

GM sues bankrupt firm to get parts for Camaro


General Motors Corp. is suing a bankrupt auto supplier for immediate access to specialized parts and equipment, arguing a delay would hamper the launch of its new Chevrolet Camaro, disrupt assembly operations, and cause millions of dollars in damages it can ill afford.

In a filing with U.S. Bankruptcy Court in Delaware, GM accused Cadence Innovation LLC of Troy, Mich., of "holding hostage" the parts and tooling equipment it needs and breaching a pact it signed in August.

Wal-Mart Stores Inc. said yesterday it will start selling Apple Inc.'s iPhone tomorrow, but the cell phones will not be priced as low as some anticipated.

Wal-Mart plans to sell the black 8-gigabyte iPhone 3G model, which holds about 2,000 songs, for $197. The 16-gigabyte model, in black or white, will be $297. All phones require a two-year service agreement from AT&T Inc. or an upgrade.

A U.S. private equity fund is in talks to take a controlling stake in Irish crystal and ceramics manufacturer Waterford Wedgwood PLC for $846 million, people briefed on the talks said. The deal is desperately needed to save Waterford Wedgwood because it has been unable to raise capital in recent months and has posted nearly six years of consecutive loses.

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