• Oct 18th 2009 at 6:25PM
  • 14
No one is allowed to escape the grinding maw of Detroit's woes -- not even Detroit Piston extraordinaire and hometown mayor Dave Bing. The mayor owns an automotive supplier called The Bing Group that provides stamped parts for carmakers. The recession has put the company on such slippery footing that it told GM it couldn't provide any more parts, and it's looking to sell itself.
As part of assuming the position of mayor, Bing stepped away from the day-to-day operations of the company by creating a blind trust. Or at least, he was supposed to -- Bing remains the registered agent for the company, and that makes him the first person the state would go to for information on the firm, which suggests that he should know something about how its currently run.

Regardless, Bing is still considering whether to sell and will decide early next year. GM has told the company that as a condition of GM's bankruptcy its suppliers are compelled to keep sending parts even if GM didn't pay them, but that didn't appear to take into account the supplier nearly going bankrupt without that money. In the interim, GM is moving toward paying its suppliers on a weekly basis, which should help The Bing Group (and others). Yet in spite of the talked-about economic rebound, Detroit still hurts.

[Source: Detroit News | Image Credit: Dave Hogg via CC2.0]

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    • 1 Second Ago
      • 5 Years Ago
      It puzzles me why the Big 3 continue staying in detroit. Ford and GM are always welcome to move their HQ to the automotive capital of the world "Shanghai"
      • 5 Years Ago
      Detroit automotive industry suffered (and suffers) from "Bigger is Better" mentality. Would love to see it one day to its former glory. It would mean the automotive industry globally would be healthy once again. But the odds are slim.

      Now bring in the BRICs.

      • 5 Years Ago
      He probably should have Googled it.
      • 5 Years Ago
      The collapse of Detroit occurred when the auto companies moved to the suburbs many years ago.

      The collapse of the auto companies occurred because they pandered to stockholders eager for inflated earnings on a quarterly basis. This is operating without a vision to the future.

      More profits should have returned to R&D and to retool factories. Big 3 engineers would have developed wonderful innovations (even a fuel-efficient SUV?) that could have kept American auto companies #1 worldwide.
      • 5 Years Ago

      "GM has told the company that as a condition of GM's bankruptcy its suppliers are compelled to keep sending parts even if GM didn't pay them,"

      That makes no damn sense.
        • 5 Years Ago
        My thoughts exactly.

        How can GM say we want protection from all the people we owe money to, and then demand those same companies that have just been stiffed to continue to send product?

        • 5 Years Ago
        Smegley, Rush would be proud.
        • 5 Years Ago
        Patrick, that kind of crap only makes sense to the government. Just wait till they tell the doctors that they have to continue to provide health services even if Uncle Sam doesn't pay them (much).

        It's called slavery, and when the government is involved, that is what we get. Just another reason I refuse to buy any GM or Chrysler product, even if they have some I find interesting. This behavior on behalf of government must be forced into failure asap.
      • 5 Years Ago
      Will the city of Detroit still exist five years from now?
        • 5 Years Ago
        Detroit will still exist down the road.
        As a resident of Michigan and someone who has lived all over the world, it is a shame how Detroit and Michigan are wasted.
        I own several properties around the state including one on a golf course and Michigan's golf courses are some of the best I have ever seen.
        In addition to Charlevoix and Petoskey, the state has water on 3 sides which is rare and beautiful and even though the winter's suck, they are not terrible and the summers are nice.

        What is holding Detroit back is the government, especially the City Council in Detroit.
        If they could get rid of all of those guys and get real good people in there, they could really make something of the place.

        Another thing that really hurt Detroit is the lack of proper public transportation. If they could get good bus lines and trains etc, that would really help in bringing corporations and talented individuals to the area.

        I myself considered moving but now I am looking at a bigger house in Rochester Hills. The house prices are just so cheap now for what you get it is ridiculous. With the money I save, I could take off every month and go somewhere else for a trip or vacation.
        • 5 Years Ago
        "Another thing that really hurt Detroit is the lack of proper public transportation."

        Do you think the Detroit 3 lobby may have something to do with that?
        • 5 Years Ago
        Detroit and Michigan will prosper again hopefully, people keep forgetting that the Midwest's most valuable asset is water.
        • 5 Years Ago
        Yes....it is just as viable as Flint, MI.
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