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Cracks in auto supply chain spreading on Tue Mar 10, 2009 1:56 pm
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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 the industry being down, our biggest concern is the health of the suppliers," Ford Motor Co. Chief Executive Alan Mulally said Friday.
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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 the industry being down, our biggest concern is the health of the suppliers," Ford Motor Co. Chief Executive Alan Mulally said Friday.
Read More
