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.Looking for bailout bucks is a new habit that the private sector seems to have trouble breaking. When will the politicians in Washington stand up for the taxpayers and say enough is enough?
Tuesday, June 9, 2009
Auto Parts Industry Lines Up for a Bailout
Where will the bailouts end? FOX reports that even though the Obama administration set aside a $5 billion federal program to help auto parts manufacturers and distributors, they’re back at the trough looking for billions more!
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It all starts with Delphi Automotive, a former General Motors subsidiary whose auto parts remain essential to GM’s production lines. exhausts
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