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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