LearBankruptcy


Seat-of-the-Pants: Lear files for Chapter 11 bankruptcy

With sales numbers continually bad and plants just now awakening from long idle periods, suppliers are particularly vulnerable to financial trouble. Seat supplier Lear Corporation failed to pay a $38 million obligation on June 1st, and the grace period has just run out. With General Motors as its largest customer, and a significant amount of Blue-Oval business, as well, Lear's late 2008 gamble of borrowing $1.2 billion as a hedge against Detroit bankruptcy has proven difficult for the company to pay back. The supplier of seats and electronic ... Read more →

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Autoblog Podcast #156: Paukert comes back for more! 

Chris, Dan, and Editor Paukert chat and give each other grief. Merriment ensues.

 
 

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