The automotive parts supply sector, laid low by the sharp drop in car production in the US, is to request at least $10bn of federal bail-out funds from the troubled asset relief programme.What industry will be next in the giant rent seeking operation called TARP?
Industry representatives met Treasury officials and members of Barack Obama’s presidential team this month to discuss a growing financial squeeze in the sector. They plan to make a formal request for access to Tarp funds soon, according to Neil de Koker, president of the Original Equipment Suppliers Association, which represents companies that supply car and van makers.
Sunday, January 25, 2009
Car parts sector looks for $10bn US bail-out
The Financial Times reports:
