Sponsor Message:
Non Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
Next In The Bailout Line: Auto Parts Suppliers  
User currently offlinePPVRA From Brazil, joined Nov 2004, 8969 posts, RR: 39
Posted (5 years 8 months 1 week 2 days 11 hours ago) and read 1979 times:



Quote:
Next in the bailout line: Auto parts suppliers

By TOM KRISHER and KEN THOMAS – 1 day ago

DETROIT (AP) — Saving the U.S. auto industry will take more than bailing out GM and Chrysler. It also hinges on companies like FormTech Industries, which employs just 440 people and forges steel for parts under the hoods of cars and trucks.

And now those suppliers are asking for a bailout of their own.

Two major parts supplier groups are expected to make a formal request as early as Friday for a government loan of up to $25.5 billion to stay afloat, putting the auto industry back at the front of the seemingly unending bailout line.

"You can't just provide support for the manufacturers, which I hope we do, and then see the suppliers go under," said Sen. Carl Levin, D-Mich. "It takes both parts to hold up the industry."

So far, federal help for the auto industry has been confined to General Motors Corp., Chrysler LLC and their financing arms. GM and Chrysler have to turn in plans by Tuesday showing the government how they plan to restructure and turn profits.

For the parts suppliers, which have been scraping by for years, the automakers' own efforts to survive by shutting down their assembly plants for long stretches have only made things worse.

In the coming weeks, the suppliers expect to see their revenue all but disappear.

http://www.google.com/hostednews/ap/...3Is75NgcdLeq984Q20D6HWKNQD96AA0202


"If goods do not cross borders, soldiers will" - Frederic Bastiat
4 replies: All unread, jump to last
 
User currently offlinePhoenix9 From Canada, joined Aug 2007, 2546 posts, RR: 8
Reply 1, posted (5 years 8 months 1 week 2 days 11 hours ago) and read 1970 times:

I'm not surprised. As we get deeper and deeper into recession, the bailout lineup is going to keep growing. Hell...even the lady who gave birth to octuplets wants a bailout because of her $50000 debt.

We'll just have to wait and see how much money the govt. is willing to print.



Life only makes sense when you look at it backwards.
User currently offlineFlybyguy From United States of America, joined Jun 2004, 1801 posts, RR: 1
Reply 2, posted (5 years 8 months 1 week 2 days 11 hours ago) and read 1963 times:

 Yeah sure lord help us. At the end of the day... the people who really drive this economy... the middle class consumer... gets jack-squat. If I got even 1/3 of the money I paid in federal taxes last year I'd be in awesome shape now. Instead of giving people back money they earned... our illustrious socialistic government would rather give it to the CEOs of fat cat industries... who, by the way, are laying off people by the millions to spare their stock price the 2 buck drop this quarter.

Prez Obama... stop giving handouts to greedy companies to save jobs already on the cutting block... give us our damn money back instead!!!!!



"Are you a pretender... or a thoroughbred?!" - Professor Matt Miller
User currently offlinePyrex From Portugal, joined Aug 2005, 4025 posts, RR: 28
Reply 3, posted (5 years 8 months 1 week 2 days 7 hours ago) and read 1951 times:

Just wait until the business jet manufacturers come asking for a bailout - I wonder what they will say then.


Read this very carefully, I shall write this only once!
User currently offlinePPVRA From Brazil, joined Nov 2004, 8969 posts, RR: 39
Reply 4, posted (5 years 8 months 1 week 15 hours ago) and read 1910 times:

Quoting Pyrex (Reply 3):
Just wait until the business jet manufacturers come asking for a bailout - I wonder what they will say then.

LOL! I hope it happens, and that it gets at least as much press coverage as the Porn Bailout proposal had.

(although I really hope those companies will be ok)

[Edited 2009-02-15 13:10:16]


"If goods do not cross borders, soldiers will" - Frederic Bastiat
Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
Fill In The Punch Line posted Sat Feb 15 2003 20:01:15 by Saintsman
What Do You Want To See In The Next President? posted Sat Feb 23 2008 14:30:54 by UAL747
In The Line At Tesco... posted Sun Jun 11 2006 14:20:14 by Kazzie
The USA In The Next World Cup posted Sat Feb 7 2004 05:30:14 by LHMark
Expect More Voter Fraud In The Next Election posted Wed Sep 24 2003 00:02:29 by Superfly
Can A Person In The U.S. Be A "Federal Citizen"? posted Sat Nov 29 2008 21:12:24 by Pyrex
Buying Laptops In The US With Non-English Keyboard posted Fri Nov 28 2008 15:29:41 by Pyrex
Bounty Hunters In The UK? posted Fri Nov 28 2008 04:37:04 by Runway23
Most Obese; Sickest Town In The US. posted Sun Nov 23 2008 00:11:15 by HowSwedeitis
Should US Airlines Get Part Of The Bailout $? posted Tue Nov 18 2008 11:59:28 by BP1