GM sues bankrupt supplier Cadence over parts - Page 9 - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

dbotsfordtat · 12-29-2008, 12:57 PM

Quote:

Originally Posted by TomServo

You are correct and I stand corrected. I'm not getting a warm fuzzy after reading this -
http://www.autoweek.com/article/20081229/FREE/812299991

I fear my son may get shafted and I'm the one who talked him out of a Honda Accord V6 coupe.

I feel a little better now, I thought that supplier had produced all the equipment and machines. Sounds like they are trying to blackmail GM and thats way easier to resolve than starting from scratch.

I'm going to go out on a limb here and say this will not delay the Camaro. Remember where you heard it from first.

camaro5 · 12-29-2008, 01:19 PM

Quote:

Originally Posted by Albeeno

Long time lurker, first time poster here. I wish you guys all the best in getting your new Camaros. It is such a sweet car and I hope they still arrive, as scheduled. Unfortunately, you probably have a better chance of meeting Jesus Christ than you do of actually taking delivery of a 2010 Camaro.

The Camaro Will be done, my son. JC

aston70 · 12-29-2008, 01:25 PM

Quote:

Originally Posted by Albeeno

Long time lurker, first time poster here. I wish you guys all the best in getting your new Camaros. It is such a sweet car and I hope they still arrive, as scheduled. Unfortunately, you probably have a better chance of meeting Jesus Christ than you do of actually taking delivery of a 2010 Camaro.

I hope my chance of meeting Jesus Christ will be that high...

*GTAHVIT* · 12-29-2008, 01:32 PM

Quote:

Originally Posted by aston70

I hope my chance of meeting Jesus Christ will be that high...

Amen.

detroitboy · 12-29-2008, 01:33 PM

Quote:

Originally Posted by gtahvit

I think the GM hush hush routine of late is due to the fact that they don't really know what the outcome will be. After having been here for a year now. I've seen Scott make a post and it quickly becomes twisted and blown out of proportion for both good news and bad. So, I can understand that they don't want to create a false expectation. I would remain quiet until I knew for sure. Sometimes its better to just wait and see....

The GM hush hush of late is because they have nearly everyone in the company (including camaro HQ on 12th floor of the RenCen) on an extended holiday shut down. It started for lots of admin people in mid december. Theres nobody working that CAN answer a question right now. I'm sure the issues we are discussing now are at the top of everyone's list for when they get back to work.

*GTAHVIT* · 12-29-2008, 01:34 PM

^ Sure,

I was more thinking along the lines of an online or blog answer. Not necessarily an official GM Press release.

*GTAHVIT* · 12-29-2008, 01:36 PM

Quote:

Originally Posted by Albeeno

Long time lurker, first time poster here. I wish you guys all the best in getting your new Camaros. It is such a sweet car and I hope they still arrive, as scheduled. Unfortunately, you probably have a better chance of meeting Jesus Christ than you do of actually taking delivery of a 2010 Camaro.

Welcome to the site.

Not trolling I hope.

TomServo · 12-29-2008, 01:47 PM

From the WSJ - http://online.wsj.com/article/SB123032162988835835.html
"Access to company-owned equipment is an ongoing battle for auto makers when suppliers file for Chapter 11 bankruptcy protection. Chrysler LLC sought and was denied access to equipment when Plastech Corp. filed for bankruptcy earlier this year."

And GM wants/needs this eq by Jan 12th???? BTW who's the new supplier if/when they get hold of this eq?? You mean they can get all this in place, train the new folks and be up and running producing quality parts by Jan 12th???

Who thinks this is possible???

christianjax · 12-29-2008, 02:47 PM

This from Autoweek

http://www.autoweek.com/article/20081229/FREE/812299991

Supplier spat may stall launch of Camaro production
By DALE JEWETT

2010 Chevrolet CamaroAfter months of teasing us with pictures, concepts and finally the real thing, all that’s left for the new Chevrolet Camaro is to crank up the assembly line so the car can hit the road next year.

But there may be a little glitch.

GM is suing Cadence Innovation, a bankrupt interior parts supplier that is liquidating, to get back parts and equipment it needs for the Camaro.

In standard industry practice, GM handed over the parts and machines to Cadence to make the Camaro parts.

But even though Cadence is going out of business, it hasn’t been in a hurry to return the equipment, as some company managers have tried to engineer a buyout to keep the firm going.

GM says that if it doesn’t get the production equipment back by Jan. 12, the start of Camaro production will be delayed.

And that won't be good news to the Camaro faithful--especially those who have a car on order.

*Camaro_Corvette* · 12-29-2008, 02:49 PM

Key word there, "MAY", I'm gonna start beatin people

if that is even remotely true.

*GTAHVIT* · 12-29-2008, 02:54 PM

Someone posted it earlier...

It looks like they are bending GM over a barrel to get money to keep their company (cadence) alive. Using the camaro launch as leverage...

Not Cool.

teamlynn1 · 12-29-2008, 02:58 PM

Here is an interesting article I read last week.

GM Sues Bankrupt Supplier to Save Camaro

Posted Today 06:15 AM by Joshua Duval
Category: News

GM has filed a lawsuit against one if its suppliers, Cadence Innovation, which makes door trim, instrument panels and airbag covers. Cadence filed for bankruptcy protection in August, but decided this month to liquidate instead of trying to sell itself.

GM filed the lawsuit in the U.S. Bankruptcy Court in Delaware, asking the court to grant it access to Cadence's facilities. According to the General, the Cadence is holding hostage equipment necessary to the timely launch of the upcoming Chevrolet Camaro. Without immediate access to the tooling Cadence is holding, GM says vehicle assembly operations could be interrupted because it does not have enough parts on hand.

"Every 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 its complaint. The automaker said such a shut down would cost millions of dollars per plant per day.

GM says it had an accommodation agreement with Cadence that requires the supplier to continue manufacturing parts and providing tooling and equipment. We can only hope GM and Cadence can iron things out so the 2010 Chevrolet Camaro launch plays out smoothly - GM (and taxpayers) can't afford a new fiasco.

NOT what we wanted to hear guys!

*GTAHVIT* · 12-29-2008, 03:05 PM

Merged the last couple new threads on the same topic.

CamaroScotty · 12-29-2008, 04:51 PM

Quote:

Originally Posted by OldTimer

If this were a non issue, we would have been told so. We haven't, so it must be! Don't expect to see your camaro any time soon......

OK, my second and final post in this thread...

As of now, it IS a NON-ISSUE.

12-29-2008, 01:34 PM	#118
GTAHVIT Blessed Drives: 2013 Sonic RS MT Join Date: Dec 2007 Location: Saint Augustine FL Posts: 28,444 View My Garage	^ Sure, I was more thinking along the lines of an online or blog answer. Not necessarily an official GM Press release. __________________ Click image to see build thread. PQ - "the love of cars. It's a boys first step toward manhood and a mans last hold on boyhood." Fbodfather - "We do not want to use the Z28 moniker on a car that does not deserve this hallowed name." The_Blur - "Let's not confuse competitors with equals."

12-29-2008, 02:47 PM	#121
christianjax Drives: 1999 Trans Am Join Date: Aug 2008 Location: Jacksonville Posts: 118	Supplier MAY delay Camaro This from Autoweek http://www.autoweek.com/article/20081229/FREE/812299991 Supplier spat may stall launch of Camaro production By DALE JEWETT 2010 Chevrolet CamaroAfter months of teasing us with pictures, concepts and finally the real thing, all that’s left for the new Chevrolet Camaro is to crank up the assembly line so the car can hit the road next year. But there may be a little glitch. GM is suing Cadence Innovation, a bankrupt interior parts supplier that is liquidating, to get back parts and equipment it needs for the Camaro. In standard industry practice, GM handed over the parts and machines to Cadence to make the Camaro parts. But even though Cadence is going out of business, it hasn’t been in a hurry to return the equipment, as some company managers have tried to engineer a buyout to keep the firm going. GM says that if it doesn’t get the production equipment back by Jan. 12, the start of Camaro production will be delayed. And that won't be good news to the Camaro faithful--especially those who have a car on order.

12-29-2008, 02:49 PM	#122
Camaro_Corvette 36.58625, -121.7568 Drives: Team 1LE Join Date: Mar 2008 Location: Earth Posts: 23,709 View My Garage	Key word there, "MAY", I'm gonna start beatin people if that is even remotely true. __________________ I am seriously never serious vv V vv Next order of business

12-29-2008, 02:54 PM	#123
GTAHVIT Blessed Drives: 2013 Sonic RS MT Join Date: Dec 2007 Location: Saint Augustine FL Posts: 28,444 View My Garage	Someone posted it earlier... It looks like they are bending GM over a barrel to get money to keep their company (cadence) alive. Using the camaro launch as leverage... Not Cool. __________________ Click image to see build thread. PQ - "the love of cars. It's a boys first step toward manhood and a mans last hold on boyhood." Fbodfather - "We do not want to use the Z28 moniker on a car that does not deserve this hallowed name." The_Blur - "Let's not confuse competitors with equals."

12-29-2008, 02:58 PM	#124
teamlynn1 Mr. Chevrolet Drives: 2007 Tahoe Z71, 2009 Silverado Join Date: Nov 2008 Location: Tacoma, Wa Posts: 342	GM sues supplier to save Camaro Here is an interesting article I read last week. GM Sues Bankrupt Supplier to Save Camaro Posted Today 06:15 AM by Joshua Duval Category: News GM has filed a lawsuit against one if its suppliers, Cadence Innovation, which makes door trim, instrument panels and airbag covers. Cadence filed for bankruptcy protection in August, but decided this month to liquidate instead of trying to sell itself. GM filed the lawsuit in the U.S. Bankruptcy Court in Delaware, asking the court to grant it access to Cadence's facilities. According to the General, the Cadence is holding hostage equipment necessary to the timely launch of the upcoming Chevrolet Camaro. Without immediate access to the tooling Cadence is holding, GM says vehicle assembly operations could be interrupted because it does not have enough parts on hand. "Every 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 its complaint. The automaker said such a shut down would cost millions of dollars per plant per day. GM says it had an accommodation agreement with Cadence that requires the supplier to continue manufacturing parts and providing tooling and equipment. We can only hope GM and Cadence can iron things out so the 2010 Chevrolet Camaro launch plays out smoothly - GM (and taxpayers) can't afford a new fiasco. NOT what we wanted to hear guys! __________________ Bobby Lynn GM Burien Chevrolet www.burienchevrolet.com 206-243-5800 ext 151

12-29-2008, 01:47 PM	#120
TomServo Drives: 2007 Z06 Join Date: Oct 2008 Location: Swansea IL Posts: 727	From the WSJ - http://online.wsj.com/article/SB123032162988835835.html "Access to company-owned equipment is an ongoing battle for auto makers when suppliers file for Chapter 11 bankruptcy protection. Chrysler LLC sought and was denied access to equipment when Plastech Corp. filed for bankruptcy earlier this year." And GM wants/needs this eq by Jan 12th???? BTW who's the new supplier if/when they get hold of this eq?? You mean they can get all this in place, train the new folks and be up and running producing quality parts by Jan 12th??? Who thinks this is possible???

12-29-2008, 03:05 PM	#125
GTAHVIT Blessed Drives: 2013 Sonic RS MT Join Date: Dec 2007 Location: Saint Augustine FL Posts: 28,444 View My Garage	Merged the last couple new threads on the same topic. __________________ Click image to see build thread. PQ - "the love of cars. It's a boys first step toward manhood and a mans last hold on boyhood." Fbodfather - "We do not want to use the Z28 moniker on a car that does not deserve this hallowed name." The_Blur - "Let's not confuse competitors with equals."

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