Tier Suppliers and Towns Watch GM Bankruptcy Closely as Their Survival is Also at Stake
Posted on June 05, 2009 at 01:00 AM EDT
SUGAR LAND--June 5, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--As the saga that is the bankruptcy of General Motors Corporation (OTC:GMGMQ) (Detroit, Michigan) has unfolded over the last week, there have been many observers hovering around the edges of the proceedings. Bond holders, employees, governmental officials and the media have paid close attention to the events leading up to the decision and what has happened in the days since. However, the groups that arguably have the most to lose outside of direct GM employees, namely the downstream suppliers and the towns that sprang up around the plants in the GM production machine, are fighting for their very survival as the bankruptcy proceeds. Other companies featured: Johnson Controls Incorporated (NYSE:JCI) , Magna International Incorporated (NYSE:MGA) , Lear Corporation (NYSE:LEA)