Word: supplier
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Next up? Auto parts suppliers. Treasury is now preparing new guidelines, making supplier companies that feed parts to Detroit's troubled automakers (and often, transplants like Toyota as well) eligible for loans through the TARP, which initially was set up by Congress to help troubled financial institutions. "If you are based in Detroit you know the entire supply chain is in trouble. The liquidity situation in the supply chain has deteriorated significantly," says Steve D'Arcy, the director of Pricewaterhouse Cooper's consulting practice in Detroit. (Archive: "Iacocca's Tightrope...
...plummeting price of crude forced Chávez, who controls the hemisphere's largest oil reserves and is a major U.S. supplier, to turn off the Citgo spigot this week and focus more of his aid resources at home. Critics of Chávez point out that his need to shore up domestic funds is even more urgent because he's trying to win support for a national referendum, probably to be held next month, on whether to eliminate presidential-term limits and let him run again...
Meanwhile, Johnson Control Inc. of Milwaukee, a major supplier to Asian automakers operating in the U.S. such as Toyota, said it expects to report a loss for the quarter ending Dec. 31. "Global automotive production is significantly worse than just two months ago," said Johnson Controls chairman and chief executive officer Stephen A. Roell. "Our customers continue to announce production reductions and plant shutdowns on a weekly basis. Every region of the world is down by a double-digit rate," he added...
...Congo. Angola is now stable, if horribly corrupt; Congo is still at war, but the Chinese investment there has just begun, and the country at least now has an incentive for peace. China, of course, gets a good return on its investment. Angola is now its leading oil supplier globally, while Congo is opening up its mineral riches in return for new roads, railways, hospitals and universities from Beijing. Then again, as the Somali pirates have demonstrated, it often takes an injection of self-interest for the world to want...
Though HUDS has had budget concerns in the past, this change will be “price-neutral,” according to Martin. In 2005, HUDS stopped serving Finagle bagels after the supplier decided to leave the wholesale market. HUDS then switched to East End Bagels, based out of Ipswich, Mass...