By all accounts, the U.S. automotive industry is facing unprecedented challenges brought about by a perfect storm of convergent, declining macroeconomic conditions. Restructuring efforts of the Original Equipment Manufacturers (OEMs)
The Financial State of the Automotive Industry
Despite all the recent media attention focused on bankruptcy concerns among the domestic three automakers, we do not anticipate any domestic OEM filing for bankruptcy protection. However, we anticipate increased bankruptcy activity within the supplier base in the latter part of 2008 and into 2009.
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