OESA urges Obama to allot funds to auto supply chain
Jan 23, 2009 | 12:10 PM
| Martyn Chase
The Original Equipment Suppliers Association (OESA) is pressing the Obama administration to use some of the $700 billion in financial rescue funds to speed money to the auto supply chain, where many companies are on the brink of collapse.
Neil De Koker, president and chief executive officer of the association, said his group wants federal funds to be used to speed up payments by General Motors Corp., Detroit, and Chrysler LLC, Auburn Hills, Mich., to many of their struggling suppliers.
The OESA wants the automakers to pay suppliers in 10 days rather than the average 47 days now prevailing in the industry, and the association also wants funding that would guarantee both direct loans to suppliers and receivables.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here