NATION

NATION

GM scaling down presence at LA show

DETROIT — General Motors Corp. says it is scaling back its presence at the Los Angeles Auto Show next week.

Spokesman Scott Fosgard says GM planned to unveil a new Buick model, and Vice Chairman Bob Lutz was going to attend the show’s media previews Nov. 19 and 20. But Fosgard said Tuesday the new model will be unveiled at the Detroit auto show in January, and no executives will travel to Los Angeles.

He says the new model could get lost in the news about GM’s cash crisis and efforts to get government aid.

GM also wants to unveil the Buick in Detroit to get more exposure to Chinese journalists. Buick is a hot-selling product in China.

Delphi reports profit for third quarter

DETROIT — Delphi Corp. reported a third-quarter profit, thanks to a settlement with General Motors Corp.

The auto parts supplier said it earned $5.2 billion in the quarter that ended Sept. 30.

It recorded gains of $5.7 billion from the GM settlement, which included a cash payment of $1.2 billion.

Delphi also asked for permission from a bankruptcy court judge to continue using its current financing arrangements through June 30.

The company has been in bankruptcy court since 2005.

OHIO

National City worried about being shut down

CLEVELAND — National City Corp. was concerned that federal regulators would shut it down in the weeks before its sale to PNC Financial Services Corp.

PNC said in a regulatory filing Monday that National City was desperate to sell during a period when executives at the Cleveland-based bank had to update regulators several times a day on the bank’s financial condition. Pittsburgh-based PNC agreed to buy National City on Oct. 24 for $5.6 billion.

PNC’s filing with the Securities and Exchange Commission indicates that companies began to demand that National City post collateral or prepay ordinary transactions. Deposit levels declined as well.

Whirlpool laying off 570 at dryer plant

MARION, Ohio — Whirlpool Corp. is laying off about 570 workers at a plant that makes clothes dryers in central Ohio. Whirlpool says the layoffs in Marion will be temporary.

The decision released Tuesday comes on top of layoffs announced last week at Whirlpool’s plants in Findlay and Clyde. A total of about 950 Whirlpool workers in Ohio will be let go.

The company says a drop in consumer demand led to the layoffs. It doesn’t know when the workers will be recalled.

Associated Press