Next in the Bailout Line: Auto Parts Suppliers

By: Associated Press
By: Associated Press

DETROIT (AP)
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 tomorrow for a government loan of up to $25.5
billion to stay afloat.
The Original Equipment Suppliers Association predicts chaos
without government help as supplier after supplier fails. The
association says parts makers employ about 600,000 people
nationwide.
The CEO of one supplier, FormTech, says he's nearly out of cash,
unable to pay for raw steel needed to forge essential parts.


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