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#1 |
![]() Drives: '10 RS/SS, '07 S281E Join Date: Oct 2008
Location: Wisconsin
Posts: 20
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GM sues bankrupt supplier Cadence over parts
NEW YORK, Dec 26 (Reuters) - General Motors Corp <GM.N> has filed a lawsuit against a bankrupt auto-parts supplier, saying it is holding necessary equipment "hostage" which could potentially interrupt the launch of its new Chevrolet Camaro car.
In a lawsuit filed on Wednesday in U.S. Bankruptcy Court in Delaware, General Motors asked the court to allow it access to facilities of the supplier, Cadence Innovation, so it could obtain necessary tooling and parts for its plants. Cadence, which makes door trim, instrument panels and air bag covers, filed for bankruptcy protection in August, but this month abandoned plans to sell itself and is now liquidating, according to court papers. GM said it needed immediate access to the tooling, because it does not have enough parts on hand, and its vehicle assembly operations could be interrupted. "Even one day's disruption in supply of certain Component Parts could cause a shutdown of GM assembly operations, disrupting not only GM's business, but the operations of countless suppliers, dealers, customers, and other stakeholders," GM said in the complaint. GM said that such a shut down could cost millions of dollars per plant per day and it would need to have a successor supplier in place by Jan. 12 for the launch of the new Chevrolet Camaro. GM said it had an accommodation agreement with Cadence that requires the auto-parts supplier to continue to manufacture the parts and provide tooling and equipment. A Cadence lawyer and spokesman were not immediately available. (Reporting by Emily Chasan and Santosh Nadgir in Bangalore; Editing by Tim Dobbyn) http://www.reuters.com/article/email...26157920081226 |
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#2 |
PowerStroke this Ford boy
Drives: Like Don Garlits "Big Daddy" Join Date: Sep 2008
Location: Richlands/Camp Lejeune NC
Posts: 462
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Ok so great reading, however, lets not get excited over this. Maybe this is the issue with the ABL we have been hearing about. GM still has plenty of time to get this issue resolved.
Have any of our GM employed members heard anything about this?
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![]() Hey big man let me hold a dollar Last edited by dieseldave24v; 12-26-2008 at 12:19 PM. |
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#3 |
![]() ![]() ![]() Drives: Aggressive Join Date: Jul 2008
Location: Southampton, PA.
Posts: 1,081
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WTF
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Black 2SS RS LS3 Inferno Int. Powdercoated 20's {MODS} KOOKS LT: Borla S-Type: Roto-Fab CAI: Hurst ST.: PFADT Stage 2, Trailing arms, Tie Rods: ECS BigBlower Cam: Fast 102mm intake: Brian Tooley racing dual spring kit: TFS pushrod set: Katech C5R timing chain: Mellings high volume oil pump: ATI Balancer: Tuned by Doug Ring at ECS. 472RWHP/445RWTQ.Dynapack Dyno.
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#4 |
Most Known Unknown
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O great now everyone is gonna flip we still have months till production it will get settled.
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#5 |
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() Drives: 2017 ZL1 M6, bye 2013 ZL1, 2010 SS Join Date: Nov 2008
Location: South East, FL
Posts: 2,529
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Courts do NOT work fast at all, this is bad news.
=Bobby |
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#6 |
hmmmmm
Drives: 2010 IOM in-n-out 2SS Join Date: Oct 2008
Location: San Jose, Ca
Posts: 1,325
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doh
damn I hope they get there parts
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#7 |
![]() Drives: 2010 Camaro & 2008 Corvette Join Date: Nov 2008
Location: Omahell, Nebraska
Posts: 499
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For the average joe, but I bet GM will get put on the judicial fast track. I'm still worried though, theres only a month and a half before production is suppose to start, I imagine theres a learning curve for this equipment. Wow.:(
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Ordered 11-04-08, NFHCTC |
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#8 |
Dude, I love my car !!!!
Drives: 2010 Black 2SS/RS white rally Join Date: Oct 2008
Location: DFW
Posts: 811
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#9 |
Senior Member
Drives: 2010 SS/RS, '06 350Z Join Date: Oct 2008
Location: So. Maryland
Posts: 2,333
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Yep, comandeer that tooling and haul it to Oshaua in the Suburbans!
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2SS/RS - Black/Black - CGM Rally Stripes - Auto - VIN 10171
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#10 |
![]() Drives: 2010 CMG 2SS Join Date: Oct 2008
Location: NS, Canada
Posts: 118
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Well it would help explain why we've had on word on it from anyone official, there might be a gag order preventing it.
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#11 |
Account Suspended
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No news here -
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#12 |
![]() ![]() ![]() ![]() ![]() Drives: '10 Camaro 2SS/RS & Magnum R/T Join Date: Oct 2008
Location: BC, Canada
Posts: 1,520
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Surely there cant be just one company that offer this service for trims etc. Heck go find another, in this climate companies would be bending over backwards to contract with GM.
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SIM Camaro 2010 V8-2SS/RS-A6!!+
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#13 |
Jayhawk USN
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FM: The_Blur/1110/USN//
TO: Camaro5// INFO: RDP Motorsport//GEN5DIY//Cultrag Performance//JPSS//Rodgets Chevrolet// SUBJ: Operation Demon// REF: Buy at Invoice, Forum Rules 1. RESPECT ALL CARS. LOVE YOUR OWN.//BT warn 145:155 ban |
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#14 |
Senior Member
Drives: 2010 SS/RS, '06 350Z Join Date: Oct 2008
Location: So. Maryland
Posts: 2,333
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But is a company that produces "door trim, instrument panels and air bag covers," techie enough to produce "an active light pipe system?"
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2SS/RS - Black/Black - CGM Rally Stripes - Auto - VIN 10171
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