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Old 12-26-2008, 12:03 PM   #1
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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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Old 12-26-2008, 12:05 PM   #2
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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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Old 12-26-2008, 12:09 PM   #3
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Old 12-26-2008, 12:12 PM   #4
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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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Old 12-26-2008, 12:28 PM   #5
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Courts do NOT work fast at all, this is bad news.
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Old 12-26-2008, 12:56 PM   #6
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damn I hope they get there parts
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Old 12-26-2008, 12:56 PM   #7
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Courts do NOT work fast at all, this is bad news.
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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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Old 12-26-2008, 12:57 PM   #8
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...Maybe this is the issue with the ABL we have been hearing about...

That is exactly what I was thinking when I read it.... "door trim and instrument panels..."


TIME TO ROLL IN THE BLACK SUBURBANS.......

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Old 12-26-2008, 01:07 PM   #9
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That is exactly what I was thinking when I read it.... "door trim and instrument panels..."


TIME TO ROLL IN THE BLACK SUBURBANS.......

Yep, comandeer that tooling and haul it to Oshaua in the Suburbans!
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Old 12-26-2008, 01:27 PM   #10
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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.
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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Old 12-26-2008, 01:36 PM   #11
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No news here -
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Old 12-26-2008, 01:43 PM   #12
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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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Old 12-26-2008, 05:51 PM   #13
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Has GM been seeking an alternative supplier since August? I think that's an important question. If they were a doomed company, then GM should have had the foresight to start looking for replacement options. It would surprise me if GM didn't have an alternative relatively soon because it would suggest that GM hasn't been looking.
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Old 12-26-2008, 06:16 PM   #14
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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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Old 12-26-2008, 07:34 PM   #15
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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?"
Maybe not but what do you think the "active light pipe system" goes on or behind? Maybe the other companies that GM was looking at didnt know how to set up the trim for the lighting and thats why they needed the tooling...
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Old 12-26-2008, 08:25 PM   #16
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Aww crap.
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Old 12-26-2008, 08:31 PM   #17
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Is this the company making the ABL stuff?
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Old 12-26-2008, 08:36 PM   #18
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oh no....
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Old 12-26-2008, 08:37 PM   #19
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ALERT! ALERT! We have officially found the spaz out issue of the day!
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Old 12-26-2008, 09:13 PM   #20
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ALERT! ALERT! We have officially found the spaz out issue of the day!
How about we spaz out about people spazing out about spaz out issues??? If we didnt have a "spaz out issue" then what would anybody be posting about? Its an open forum, people think. So since there hasnt been anything new released then does that mean you dont want any new posts??? It gives everybody stuff to think and talk about. Yeah, life sucks, I know...
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Old 12-26-2008, 09:41 PM   #21
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How about we spaz out about people spazing out about spaz out issues??? If we didnt have a "spaz out issue" then what would anybody be posting about? Its an open forum, people think. So since there hasnt been anything new released then does that mean you dont want any new posts??? It gives everybody stuff to think and talk about. Yeah, life sucks, I know...
2Low, I wasn't going for that at all. I was just alerting everyone to the issue of the day. I love to read these posts and see what people are thinking. I am glad everyone is so passionate about this car.
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Old 12-26-2008, 09:55 PM   #22
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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.
Uhh, not neccessarily.

GM was a hair away from BK themselves two weeks ago you know. They are SEVERAL months behind on payment on their current suppliers. Logically speaking, I don't think any suppliers would be "lining up" to partner with GM until they can be "viable" again.

Just my 0.02
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Old 12-26-2008, 10:00 PM   #23
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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.
However, to add to your statement, it shouldn't be hard for other suppliers to machine or build pieces, allowing they were to acquire the CADs/dies/molds/tooling. As an EE working for telemetry/PCB I have seen where our company acquired someone elses molds and stamps and were able to produce replacement items within a two week timeframe.
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Old 12-26-2008, 10:43 PM   #24
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Old 12-26-2008, 11:02 PM   #25
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2Low, I wasn't going for that at all. I was just alerting everyone to the issue of the day. I love to read these posts and see what people are thinking. I am glad everyone is so passionate about this car.
I know, I was just givin ya a hard time before anybody else could.
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