Tuesday, May 17, 2005

 

No Surprise Here...

According to Automotive News (registration required), Collins & Aikman filed for Chapter 11 bankruptcy protection today. You can be there were some tense buyers in the purchasing departments of the Big 3 after the news broke, and certainly none of us in the auto component business welcomed this news.

UPDATE: Oh, yea, and Delphi slipped a bit further into junk-bond hell, too. The vultures are circling, I'm sure.

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