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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!
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?

1 comment:

  1. It all starts with Delphi Automotive, a former General Motors subsidiary whose auto parts remain essential to GM’s production lines. exhausts