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At a conference hosted
by BMO Nesbitt Burns Inc., various auto part makers, when asked about either General Motors Corp. or Ford Motor Co.
going bankrupt, stated they were ready for such a scenario.
“We’ve looked at it,” said Don
Walkers, the co-CEO of Magna International Inc., which designs and produces such products as seating and lighting
systems. GM and Ford represent 22 and 16 percent of the company’s sales, respectively.
Tactics that
parts makers say they would implement include forcing shorter payment times, decline new business, or sell receivables
from troubled companies.
Further details are found at the link.
[Source: Globe and Mail]