- Apr 9, 2009
Toyota exec says automaker ready for GM bankruptcy
Now the president of Toyota Motor Sales USA, Jim Lentz, has said that the automaker can handle a GM bankruptcy. Although GM and Toyota share roughly 330 suppliers, Lentz says "only a small number... are critically short on cash," without giving any indication of how many shared suppliers are included in that assessment. Even for those that might be in trouble, the $5 billion Supplier Support Program should further minimize the number of losses among them.
[Source: Detroit News | Image: Bill Pugliano/Getty]