The Auto Industry Causes More Job Loss
It seems that, no surprise, our economic woes are starting to hurt small businesses associated with the auto industry. A myriad of companies are finding themselves in a bind, with the Big Three, GM, Chrysler, and Ford, facing horrid sales, steel companies and others associated with auto production are feeling the pinch.
Southbendtribune.com is chronicling one such company, Lapeer Metal Stamping. It seems that four factories owned and operated by Lapeer are going under due to lack of business from Ford and GM. The company is now making half of what it has in the past, $60 million in stead of $120 to be exact, and apparently has become unprofitable. According to Southbendtribune.com a recent company notice reads:
“Due to sudden, dramatic and unexpected deteriorating circumstances in the automotive industry and in Lapeer’s financial and economic condition, its management has been compelled to sell its book of business and permanently close its operations.”
Another casualty of America’s declining auto industry, but auto transport of imports always seems to be doing well. It’s just a shame the Big Three didn’t revamp their companies years ago.
