F. George McDuffee wrote:

One of the posters in another GM thread indicated that it was
commony GM practice to *NOT* pay for tooling until production
started. ==Does anyone know if GM ever paid for this tooling as
it is for a 2009 model?== If they did not, it may be a major
reason that Cadence went b/k.

===============

GM sues bankrupt supplier for access to parts

By DEBORAH YAO, AP Business Writer

Friday, December 26, 2008
(12-26) 14:02 PST (AP) --


Well, I see the feds figured out the supplier base is totally screwed and now wants to
save them. I guess this is a good sign someone is worrying about the manufacturing base
finally.

GM has been screwing over suppliers for 30 years. I personally would like to see GM die
and the suppliers survive. Not a chance of that deal since the Obama administration and
our Democrat controlled Congress is going to save the UAW at all costs. Even if it
doesn't make economic sense.

My perspective is from personal experience. The parent corporation was sued for making
asbestos. The costs were ruinous. Eventually the corporation came out of Chapter 11 but
the result was that my facility was sold to raise cash to pay people off.

Impossible debt was discharged by the bankruptcy process. The parent lives on and I hope
that pension survives past when I can collect.

Well, the new owners of the facility, as I understand it, did not have to keep us on or
maintain our pay and benefits. As it is, they did.

One we were on our own, we kept making auto parts while having GM and to some extent
others squeezing us like a washrag. We kept things going until the slowdown in about 2000
or so. Then we were screwed.

Sadly for us, GMAC held the paper so when we got in trouble, GMAC looked after GM and our
Ford business was run out the door so we could focus on building banks for GM. Another
creditor would have likely presented a different scenario.

Anyway, GM is dead, it has to die. 59 billion in the hole. Has not made a profit in
years. Maybe someone will pick up a few product lines and move forward but stick a fork
in it, this company is done.

Wes