Camaro could be delayed due to Law suit - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Maddog78 · 10-17-2008, 12:21 PM

http://autos.canada.com/news/story.h...a-0b32f2efb5ed

Quote:

Legal spat could delay GM's new Camaro
Nicolas Van Praet, Financial Post
Published: Friday, October 17, 2008
A legal spat between a General Motors Corp. supplier and a toolmaker could threaten the production launch next year of the automaker's Canadian-built Camaro sports car.

Cadence Innovation LLC is suing H. S. Die & Engineering Inc. over tools it needs to manufacture parts for GM's upcoming Camaro. The two-door coupe is a remake of the classic muscle car and one GM is counting on to help rekindle buyer interest in its lineup.

"It's a car they're really pushing to launch and bring back some of the shine to the Chevrolet name brand," said Jim Gillette, director of supplier analysis at CSM Worldwide. "H. S. is probably holding all the cards right now."

H. S. Die is demanding full cash payment before it hands over the tools and, as a result, is breaching its contract, Cadence said in a lawsuit filed on Tuesday with the U. S. Bankruptcy Court in Wilmington, Del.

Cadence counters that it is under no obligation to pay for the tools until 60 days after the car has been fully assembled and GM has approved the parts. It said that won't happen "for many months."

Without the tools, Cadence can't make and supply General Motors with the parts required for the launch of the Camaro, and the car can't be made, Cadence said in its lawsuit. The suit states that H. S. Die's refusal to turn over the tools could delay production of the vehicles by months if Cadence is forced to scramble to find an alternative sub-supplier.

GM is slated to build the Camaro at its plant in Oshawa, Ont. The car will undergo pre-production tests this year, with first deliveries expected next February. A GM spokesman could not be reached yesterday to comment.

Troy, Mich.-based Cadence filed for bankruptcy protection in the United States on Aug. 26, citing "collapsing revenue and material costs increasing at double digit rates" for its decision. Cadence said at the time it did not expect any disruption to the flow of product to its customers and that it intended to fund onging operations from debtor-in-possession financing used to supplement its working capital. It makes instrument panels, consoles and cockpits, among other products.

Grand Rapids, Mich.-based H. S. Die is likely worried about Cadence's ability to pay under the circumstances, Mr. Gillette said. It could ask GM to guarantee payment for the tools.

The Camaro situation adds further trouble for Canada's auto manufacturing industry, already under pressure from a rapid sales slide in the United States. Yesterday, Ford Motor Co. laid off 125 factory workers at its Oakville, Ont., assembly complex after it failed to get enough employees to take buyouts. Ford was targeting "upwards of 500 people" to leave to convert the plant back to two shifts, said company spokesman Kerri Stoakley.

"There will be further retrenchment in Ontario [at facilities of the Detroit-based automakers]," Kam Hon, an analyst at DBRS, said yesterday. "[But] they're not going to withdraw totally."

babyjulie83 · 10-17-2008, 12:24 PM

GM should just guarantee pmt for the tools....

reading "camaro may be delayed" made me a little sick to my stomach.....

franknbeans · 10-17-2008, 12:26 PM

wow, this sucks. . . hard times for all.

TomServo · 10-17-2008, 12:29 PM

Quote:

Originally Posted by babyjulie83

reading "camaro may be delayed" made me a little sick to my stomach.....

Makes two of us.

Rogue Leader · 10-17-2008, 12:41 PM

Not concerned

If it comes down to it GM will guarantee the payment. They know they can't let this one flop.

Alarick · 10-17-2008, 12:58 PM

On the bright side, if the Camaro is delayed, we might see the HUD in the 2010...
(Just wishful thinking on my part)

ZZcamaro · 10-17-2008, 12:59 PM

Screw the HUD...I have too many mustangs around here that need a good spanking...Give me my SS!!!

mandra · 10-17-2008, 01:10 PM

I think this is just posturing to assure payment by GM.

*radz28* · 10-17-2008, 01:14 PM

Ouch; they're putting GM in a pinch by pulling this crap. Not cool at all...

TheCaptain · 10-17-2008, 01:30 PM

Quote:

Originally Posted by radz282003

Ouch; they're putting GM in a pinch by pulling this crap. Not cool at all...

Too true.

GothamCamaro · 10-17-2008, 01:31 PM

GM can use our pre-order cash to pay them.

Let's hope they work it out with no delays.

96CAMaro · 10-17-2008, 01:34 PM

Quote:

Originally Posted by ZZcamaro

Screw the HUD...I have too many mustangs around here that need a good spanking...Give me my SS!!!

Just be careful to break her in properly before destroying those 'stangs.

Mattsack789 · 10-17-2008, 03:51 PM

The guy who runs that company probably drives a Mustang

camaro5 · 10-22-2008, 09:55 PM

Unbelievable - but true.

10-17-2008, 12:24 PM	#2
babyjulie83 driving! Thanks GM !!! Drives: 2SS Camaro in ABM!!! Join Date: Oct 2008 Location: Dallas, TX Posts: 353 View My Garage	GM should just guarantee pmt for the tools.... reading "camaro may be delayed" made me a little sick to my stomach..... __________________ I finally settled on a name for her....."Bonnie" Everything is better in a Camaro.......puts a smile on my face everyday.....

10-17-2008, 12:26 PM	#3
franknbeans Whipped Drives: 2010 CAMARO Join Date: Sep 2008 Location: Pittsburgh-ish - PA Posts: 4,216 View My Garage	wow, this sucks. . . hard times for all. __________________ Car of the week 7/7/14

10-17-2008, 12:41 PM	#5
Rogue Leader Iatefiberglassinsulation Drives: 2010 Camaro 2SS M6 Join Date: Oct 2008 Location: Long Island Posts: 3,601 View My Garage	Not concerned If it comes down to it GM will guarantee the payment. They know they can't let this one flop. __________________ 2010 Chevrolet Camaro SS - was daily driver, now toy 2020 Alfa Romeo Giulia Quadrifoglio - Daily Driver 2017 Mercedes Benz GLE 350 - Wifes Car 2008 Chevy Silverado 2500 HD LT 6.0 - Tow Vehicle 1991 Alfa Romeo 164S - Project Car 1994 Volkswagen Golf - Race Car "Like" my race team on Facebook: http://www.facebook.com/farfrumwinnin

10-17-2008, 01:14 PM	#9
radz28 Petro-sexual Drives: Ultra-Grin Join Date: Oct 2006 Location: Crazy Coast Posts: 15,803 View My Garage	Ouch; they're putting GM in a pinch by pulling this crap. Not cool at all... __________________ '20 ZL1 Black "Fury" A10, PDR, Exposed CF Extractor Magnuson Magnum DI TVS2650R // RFBG // Soler 103 // TooHighPSI Port Injection // THPSI Billet Lid // FF // Katech Drop-In // PLM Heat Exchanger // ZLE Cradle bushings // BMR Chassis-Suspension Stuff // aFe Bars // Diode Dynamics LEDs // ACS Composites Guards // CF Dash // Aeroforce // tint // other stuffs

10-17-2008, 01:31 PM	#11
GothamCamaro Then you're gonna love me Drives: 2010 Black Camaro Tumbler RS Join Date: Dec 2007 Location: NW Gotham, IL Posts: 1,597	GM can use our pre-order cash to pay them. Let's hope they work it out with no delays. __________________ *Own- "Does it come in Black?" Exterior/ Grey Interior 2LT/RS Automatic* _____________________________________ The Batman would only drive a 2010 Camaro and buy from Camaro Scotty. 'Nuff said. *Anyone that knows of a place that is making the Concept Shifter for the new Camaro. (Auto specifically) Please let me know.* Order# NDTMVP Ordered 10/23/08. 2000 on 5/21/09... It begins..... 4B00 on 6/26/09... In transit to the Cave 5000 on 7/6/09 it waits for my arrival! 1000000 on 7/10/09 The Tumbler is in the Cave!

10-17-2008, 12:58 PM	#6
Alarick Drives: 2010 IOM 2SS Join Date: Apr 2008 Location: Coral Springs Florida Posts: 356 View My Garage	On the bright side, if the Camaro is delayed, we might see the HUD in the 2010... (Just wishful thinking on my part)

10-17-2008, 12:59 PM	#7
ZZcamaro Drives: 2SS w/ ZZ427 Package!! Join Date: Oct 2008 Location: Pittsburgh, PA Posts: 2,699	Screw the HUD...I have too many mustangs around here that need a good spanking...Give me my SS!!!

10-17-2008, 01:10 PM	#8
mandra Drives: 2011 Camaro SS2RS M6 Join Date: Oct 2007 Location: New York Posts: 54	I think this is just posturing to assure payment by GM.

10-17-2008, 03:51 PM	#13
Mattsack789 Drives: 2010 Camaro SS Join Date: Oct 2008 Location: Virginia Posts: 217	The guy who runs that company probably drives a Mustang __________________

10-22-2008, 09:55 PM	#14
camaro5 Drives: X-15 Velocipede Join Date: Mar 2008 Location: SW Florida Posts: 4,630	Unbelievable - but true.

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