I won't miss them.
They were a ruthless company. Julie Brown built a massive company very quickly on the backs of their suppliers and it is sweet justice that they have collapsed. A lot of people in the industry will suffer irreparable damage from this filing, but it will be good for the industry as a whole. As long as the companies that are left now refuse to whore themselves out that is. Anyhoo. Bad day for a a lot of good people and companies in the industry, but a good day for the industry in general. IMHO anyway.
http://online.wsj.com/article/SB120191689484637205.html?mod=googlenews_wsjPlastech Files for Bankruptcy Protection
By Jeffrey McCracken and Terry Kosdrosky
Word Count: 421 | Companies Featured in This Article: Dana Holding, General Motors, Ford, Lear
Plastech Engineered Products Inc., one of the country's largest minority-owned auto suppliers, filed for Chapter 11 bankruptcy protection Friday evening in Michigan., after efforts to negotiate a bailout package from customers apparently faltered.
Plastech was dealt a blow Friday when Chrysler LLC canceled its purchase orders with the $1.3 billion maker of plastic auto parts like center consoles.
Chrysler spokesman Kevin Frazier said the automaker, which was Plastech's fourth-largest customer, also began to take their tooling out of Plastech plants.