GM to speed up payments to parts suppliers to help with cash flow, improve relationshipsSeptember 24th, 2009 GM to speed up payments to parts supply companiesDETROIT — General Motors Co. has decided to speed up payments to its parts suppliers to help ease their cash flow problems and ultimately improve relations with the companies, a spokesman said Thursday.
Where some of the major auto supplier bankruptcy cases standAugust 15th, 2009 Auto suppliers under bankruptcy protectionAuto parts supplier Visteon Corp. has asked a Delaware bankruptcy judge for permission to cut health and life insurance benefits for thousands of current and former workers.
Task force chief Bloom says government won't use stakes in automakers to make social policyAugust 5th, 2009 Task force head says gov't won't run automakersTRAVERSE CITY, Mich. — The U.S.
Ford Motor says more of its suppliers ailing this year, slashes number OK'd for future workJune 24th, 2009 Ford says more of its suppliers are ailing in 2009DEARBORN, Mich. — Ford Motor Co.'s top executive for auto parts purchasing said Wednesday the number of the automaker's suppliers that are under distress, bankruptcy protection or under observation has more than doubled in the last year.
American Axle suing supplier Republic Engineered Products to resume steel shipmentsJune 16th, 2009 American Axle sues steel maker to resume shipmentsNEW YORK — Auto parts supplier American Axle & Manufacturing Holdings Inc. is seeking a court order to get one of its steel suppliers to resume deliveries, saying that by cutting off supplies it threatens the entire auto supply chain.
Obama administration rejects request from auto suppliers for up to $10 billion in aidJune 16th, 2009 Administration rejects auto supplier aid requestWASHINGTON — The Obama administration has turned down a request by auto suppliers for up to $10 billion in additional federal aid to help the parts companies deal with the bankruptcies of General Motors and Chrysler. The Treasury Department said in a statement Tuesday that an existing $5 billion support program for auto parts suppliers was playing an important role in stabilizing the nation's auto supply base.
Auto parts suppliers survive with government and automaker help, but more trouble in sightJune 15th, 2009 Government, automaker aid keeps parts makers aliveDETROIT — Government aid and timely payments by General Motors, Ford and Chrysler have held off the predicted collapse of the nation's auto parts supply base, but industry officials say more bankruptcies are coming as the effects of Detroit's temporary factory closures continue to ripple through the economy. Hundreds of companies large and small across the country make everything from bolts to axles to transmissions, shipping them to Detroit Three factories as well as those of foreign automakers with U.S.
Strapped auto supplier groups to ask government for up to $10 billion in new loan guaranteesJune 10th, 2009 Auto suppliers to seek billions more in gov't aidNEW YORK — Automotive parts suppliers plan to seek an additional $8 billion to $10 billion in loan guarantees to help them weather a bleak auto sales environment and the bankruptcy court restructuring of major customers GM and Chrysler. The Original Equipment Suppliers Association and Motor & Equipment Manufacturers Association said they plan to request the federal aid Wednesday from the U.S.
Auto suppliers to request $8-$10B loan guarantees as companies struggle with falling revenueJune 10th, 2009 Auto suppliers to seek $8-$10B in loan guaranteesNEW YORK — Struggling automotive parts suppliers plan to ask the U.S. Treasury Department for $8 billion to $10 billion in loan guarantees to help support their operations.
Small auto suppliers say they're vulnerable from GM, Chrysler downturnMay 13th, 2009 Auto suppliers lobby for federal supportWASHINGTON — Auto suppliers appealed to lawmakers Wednesday for federal support, warning that the U.S. supply base could buckle under from the declining fortunes of General Motors Corp.
Auto suppliers want Congress, Obama to protect supply base amid summer factory shutdownsMay 9th, 2009 Auto suppliers urge lawmakers to protect baseWASHINGTON — Auto suppliers say the auto industry's supply base could be threatened by factory shutdowns by General Motors and Chrysler. In a letter to congressional offices on Friday, the Motor & Equipment Manufacturers Association said the supplier industry is in crisis and during the shutdowns many suppliers will have no choice but to permanently close their facilities this summer.
Chrysler's Canadian plants close indefinitely while parent company restructuresMay 1st, 2009 Chrysler's Canadian plants halt productionTORONTO — A parts shortage resulting from Chrysler's restructuring under U.S. bankruptcy protection has forced the company's Canadian branch to halt its assembly operations indefinitely, a spokeswoman said Friday.
Japan minister wary of fallout from Chrysler bankruptcy on auto parts makersMay 1st, 2009 Japan wary of Chrysler fallout on parts makersTOKYO — Japan's trade and economy minister said Friday that the government is watching for possible fallout from Chrysler's bankruptcy caused by damage to Japanese parts makers. "We must take appropriate measures if they are being hurt," Economy, Trade and Industry Minister Toshihiro Nikai told reporters.
Obama says he has no interest in running auto companies but government has a role to playApril 30th, 2009 Obama says he has no interest in running autosWASHINGTON — President Barack Obama says the government should help Chrysler and General Motors stabilize but then should get out of the auto business as quickly as possible. The government is working on ways to help the two struggling auto giants survive with public money and increased federal involvement.
Chrysler forced to close plants early as some suppliers stop shipping partsApril 30th, 2009 Some Chrysler parts suppliers stop shippingDETROIT — Chrysler says it has sent workers home from at least two factories because parts suppliers have stopped shipping due to its bankruptcy filing. Vice Chairman and President Tom LaSorda said in a conference call Thursday that workers were sent home from stamping and assembly factories in the Detroit suburb of Warren.
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