You are just full of good news today from an owner of one of those businesses.
Kind of picked the wrong day for this. No one cares. The DOW is over 11,000 for the 1st time since 1999. Uemployment is under 5% for the 1st time since 2000.
I'm a Tier One supplier employee and we've been expecting this for years. We're about $1.5 billion in annual sales and $450 million comes from supplying to GM. We've extracted about every bit of cost that we can and evern plants in Mexico and Korea aren't keeping the costs low enough. China will implement this year and we'll see how it goes.
If I owned a manufacturing business and GM came calling, I'm not sure I'd open the door.