Auto 'recovery' tainted without supplier payments

April 2009
Grand Rapids Business Journal;4/6/2009, Vol. 27 Issue 14, p10
The author examines the impact of the U.S. government bailout on declining payments to Tier 2 and Tier 3 suppliers of automotive manufacturers in 2009. The entry notes that the federal Troubled Asset Relief Program (TARP) could only benefit Tier 1 suppliers who have refused to pay lower-tiered suppliers for significant jobs, such as those in the tool-and-die industry. The author asserts that the automobile recovery task force of U.S. President Barack Obama should have an oversight function to prevent any problems with supplier payments.


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