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Experts: Auto industry ready to move forward
Venture capitalists, he said, have been hesitant to invest -- and still are in traditional suppliers -- but now that there has been some restructuring, a number of investors have jumped back into the industry especially interested in battery companies and new technology companies.
But companies learned their lesson: debt will be kept in check in the future.
And the industry has been irreversibly changed, said John Casesa, managing director of the Casesa Shapiro Group in New York.
"It's been an extraordinary year, and we're in an era of massive structural change," Casesa said. "For the last several decades the industry was relatively stable but in slow decay. Now we are in upheaval that will last for decades."
Last year, 14 of the top 150 suppliers declared bankruptcy, as did another 40 large companies and an additional 200 small or medium-sized parts makers, said Neil De Koker, chief executive of the Original Equipment Suppliers Association.
Other analyst and experts as well as executives from Ford Motor Co. and other companies have said they expect more suppliers to do the same this year. There is still too much capacity to meet the dramatically reduced demand for cars and trucks, and while production is expected to increase as the economy rebounds, many suppliers still are having a hard time securing the credit they need to keep their factories running.
Feds shake up terror watch lists – Detroit Free Press
AFP Feds shake up terror watch lists Detroit Free Press WASHINGTON – With President Barack Obama set to meet with homeland security officials Tuesday, his administration has apparently already reviewed thousands of records of potential terrorists in the wake of an alleged terrorist attempt … US overhauls terror watch lists AFP White House: Obama Can Walk and Chew Gum CBS News (blog) Obama getting briefed on Detroit terror incident The Detroit News Politico
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Experts: Auto industry ready to move forward
Detroit -- Auto analysts said Sunday that the auto industry has used the pain and restructuring of 2009 to shed debt and reposition for growth. and more »
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The European Commission warns of a full-blown debt crisis for the eurozone, with half of the 16 nations at high risk of unsustainable public finances. and more »
Nolan Finley
Districts must also be forced to find savings through consolidation, outsourcing and shared services. The alternative is to cut teaching positions and and more »
Mayor Dave Bing's 4-year plan for Detroit calls for leaner city, urban farms ...
Mayor Dave Bing's 4-year plan for Detroit calls for leaner city, urban farms "None of us envy the position that he's in, to have to initiate these budget cuts, layoffs, downsizing, consolidation," new City Council President Charles and more »
Mayor Dave Bing's 4-year plan for Detroit calls for leaner city, urban farms ...
Mayor Dave Bing's 4-year plan for Detroit calls for leaner city, urban farms "None of us envy the position that he's in, to have to initiate these budget cuts, layoffs, downsizing, consolidation," new City Council President Charles and more »