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Auto parts makers show they're suffering, too on Tue Mar 17, 2009 3:29 pm
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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 Press. "They have not yet received any government help. They have been left on their own. We need to see if there's some way to help them that is sound and consistent with our overall approach to this industry."
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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 Press. "They have not yet received any government help. They have been left on their own. We need to see if there's some way to help them that is sound and consistent with our overall approach to this industry."
Read More
