Posted on 08/31/2006 6:49:24 AM PDT by flowerplough
Engineered Plastic Products Inc. exemplified success as an auto supplier, making its recent downfall all the more disheartening for other minority suppliers.
Gerald Edwards led the company for more than 15 years and along the way gained praise and acknowledgment from one of its major customers, General Motors, including five consecutive supplier-of-the-year awards from 1999 to 2003, according to Automotive News. But the decline of Detroit's big three automakers had forced the plastic-parts makers to a Chapter 11 filing in March and complete shutdown on June 30.
Glenda Gill, executive director of the automotive project for the Rainbow/PUSH Coalition, echoed the disappointment of many minority suppliers and the fear that lingers in their minds.
"He was the best of the best," said Gill of Edwards. "And if it could happen to him, lots of minority suppliers are looking at that and asking, 'What could happen to us?'"
If auto suppliers are facing tough times, then minority suppliers face extreme challenges in a global economy. Key reasons are because many depend on one or two large customers and are ill-prepared for the costs involved in diversifying so they could better compete on the global market, according to Automotive News.
(Excerpt) Read more at diversityinc.com ...
(more info: "Auto reality: Adapt or die" http://www.detnews.com/apps/pbcs.dll/article?AID=/20060812/AUTO01/608120353/1148)
There just is not a good market for minorities right now. Perhaps they should supply something else. :)
Calm down! It happens to "Whitey" too.
Why are there "minority" suppliers?
Evidently they forgot that "Diversity is what makes America Great"
Believe it or not, it's a leftover from the LBJ administration. Things were booming in Detroit and there was scads of 'ethnic' money available to anyone with the correct skin-color to start a minority business.
Most of the money was just stolen by fakes or others used a 'token' to get the money.
Engineered Plastic Products Inc. was restarted by Gerald Edwards after some of the 'fakes' filled it with good machinery but no sales ability.
When the auto companies and their Tier I suppliers began out-sourcing (read 'off-shore') their needs, many Tier II and III suppliers were caught short if the majority of their business was automotive related. My Company damned near went under, and we were less than half automotive.
I'm glad now that I didn't sell us to Engineered Plastics Products................FRegards
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