http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/-t1.htm Sun, 26 Apr 2009 16:44:49 GMT 10 http://i78.servimg.com/u/f78/13/28/72/66/autotr10.gif http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/-t1.htm http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/suppliers-brace-for-gm-shutdown-t550.htm Admin The nation's struggling auto-parts industry is bracing itself for a new wave of financial distress as General Motors Corp. prepares for an extended summer shutdown at 13 assembly plants, as well as associated stamping and powertrain factories. The move slams suppliers that already have been forced to drain their cash reserves after an extended winter shutdown that lasted through much of January. "This is devastating," said Patrick O'Keefe of Bloomfield Hills-based turnaround ... Suppliers and Vendors Sun, 26 Apr 2009 16:44:49 GMT http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/suppliers-brace-for-gm-shutdown-t550.htm#594 http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/suppliers-brace-for-gm-shutdown-t550.htm http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/workers-occupy-closed-auto-parts-plant-in-windsor-t474.htm Admin Members of the Canadian Auto Workers who lost their jobs last week occupied the shuttered Aradco plant in Windsor on Tuesday, saying they’ll remain until they get severance pay due them, the Windsor Star reported. Other workers gathered outside the plant kept police from entering the building. “We are just going to stay back and make sure nothing further develops,” police Sgt. Tony Garro told the paper. “If there is something blatant, we’ll deal with it Read More Suppliers and Vendors Wed, 18 Mar 2009 22:33:21 GMT http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/workers-occupy-closed-auto-parts-plant-in-windsor-t474.htm#515 http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/workers-occupy-closed-auto-parts-plant-in-windsor-t474.htm http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/dana-to-cut-more-jobs-as-losses-go-on-t468.htm Admin Read More]]> Suppliers and Vendors Tue, 17 Mar 2009 21:31:40 GMT http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/dana-to-cut-more-jobs-as-losses-go-on-t468.htm#507 http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/dana-to-cut-more-jobs-as-losses-go-on-t468.htm http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/auto-parts-makers-show-they-re-suffering-too-t466.htm Admin While Steven Rattner, lead adviser to President Barack Obama's automotive task force, acknowledged Monday that auto suppliers are in urgent need of aid, the industry's parts companies showed more signs of distress Visteon Corp., Ford's largest independent supplier, raised questions about its ability to remain viable, and Toledo-based axle maker Dana Corp. said it would cut 5,800 jobs by the end of the month. "The supplier problem is very, very urgent," Rattner told the Free ... Suppliers and Vendors Tue, 17 Mar 2009 21:29:16 GMT http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/auto-parts-makers-show-they-re-suffering-too-t466.htm#505 http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/auto-parts-makers-show-they-re-suffering-too-t466.htm http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/american-axle-says-it-may-violate-loan-agreements-t457.htm Admin American Axle & Manufacturing Inc. said in a regulatory filing today that it may violate the terms of its loan agreements as the future of its primary customers are still in question. General Motors Corp. and Chrysler LLC are American Axle’s largest customers, accounting for a total of 88% of American Axle’s sales in 2008. The company, which often refers to itself as AAM, describes how the downfall of its major customers would raise questions about whether the company can maintain ... Suppliers and Vendors Fri, 13 Mar 2009 22:37:17 GMT http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/american-axle-says-it-may-violate-loan-agreements-t457.htm#496 http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/american-axle-says-it-may-violate-loan-agreements-t457.htm http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/auto-industry-expert-government-must-act-quickly-to-prevent-collapse-of-suppliers-t456.htm Admin North America’s automotive parts supply base faces an imminent collapse over the next 30 to 90 days unless the federal government provides at least $10 billion in immediate funding, Grant Thornton LLP partner Laura Marcero said today. If suppliers go out of business, automotive assembly plants could be forced to shut down, bringing the industry to a halt, Marcero said. “Washington has been focused on the crisis with GM and Chrysler, but …we have an immediate supply base issue ... Suppliers and Vendors Thu, 12 Mar 2009 22:06:45 GMT http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/auto-industry-expert-government-must-act-quickly-to-prevent-collapse-of-suppliers-t456.htm#495 http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/auto-industry-expert-government-must-act-quickly-to-prevent-collapse-of-suppliers-t456.htm http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/visteon-makes-payment-avoids-bankruptcy-t450.htm Admin Staving off a bankruptcy filing, Visteon Corp. today made a $16-million interest payment, one that analysts had widely expected the Van Buren Township supplier to skip and trigger a Chapter 11 bankruptcy filing. The payment is for interest on about $450 million in bonds that mature in 2014. Those bonds are trading at a small fraction of their original value. Automotive analysts had expected the supplier to not make the payment and instead shore up its cash for its operations ... Suppliers and Vendors Tue, 10 Mar 2009 23:05:50 GMT http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/visteon-makes-payment-avoids-bankruptcy-t450.htm#488 http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/visteon-makes-payment-avoids-bankruptcy-t450.htm http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/cracks-in-auto-supply-chain-spreading-t449.htm Admin The automotive supply chain is at a breaking point with no cash, no credit, no decision on a request for $18.5 billion in federal aid -- and a lot of bills to pay. The next company to fall could be Van Buren Township-based Visteon Corp., which owes $16 million today on a bond payment and is widely believed to be on the bankruptcy bubble. But hundreds of smaller suppliers could be forced into bankruptcy court, too, as they struggle in the worst auto market in decades. "With ... Suppliers and Vendors Tue, 10 Mar 2009 19:56:14 GMT http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/cracks-in-auto-supply-chain-spreading-t449.htm#487 http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/cracks-in-auto-supply-chain-spreading-t449.htm http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/delphi-suspends-work-at-china-factory-t315.htm Admin SHANGHAI, China -- U.S. car parts maker Delphi Corp. has suspended work at a factory in Suzhou due to shrinking demand amid the global economic slump, a media report and a staff member said Monday. The factory west of Shanghai in the city of Suzhou makes compressors for General Motors Corp. Calls to the plant rang unanswered Monday. "The sudden and unprecedented decline in (car) sales globally has resulted in our only customer, General Motors North America, announcing plant closures ... Suppliers and Vendors Mon, 29 Dec 2008 19:18:10 GMT http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/delphi-suspends-work-at-china-factory-t315.htm#329 http://autoworker-truths.forumotion.net/suppliers-and-vendors-f16/delphi-suspends-work-at-china-factory-t315.htm