GM bankruptcy has car fabric makers anxious | McClatchy Washington Bureau

×
Sign In
Sign In
    • Customer Service
    • Mobile & Apps
    • Contact Us
    • Newsletters
    • Subscriber Services

    • All White House
    • Russia
    • All Congress
    • Budget
    • All Justice
    • Supreme Court
    • DOJ
    • Criminal Justice
    • All Elections
    • Campaigns
    • Midterms
    • The Influencer Series
    • All Policy
    • National Security
    • Guantanamo
    • Environment
    • Climate
    • Energy
    • Water Rights
    • Guns
    • Poverty
    • Health Care
    • Immigration
    • Trade
    • Civil Rights
    • Agriculture
    • Technology
    • Cybersecurity
    • All Nation & World
    • National
    • Regional
    • The East
    • The West
    • The Midwest
    • The South
    • World
    • Diplomacy
    • Latin America
    • Investigations
  • Podcasts
    • All Opinion
    • Political Cartoons

  • Our Newsrooms

You have viewed all your free articles this month

Subscribe

Or subscribe with your Google account and let Google manage your subscription.

Economy

GM bankruptcy has car fabric makers anxious

Andrew Dunn - The Charlotte Observer

June 02, 2009 07:29 AM

Three years ago, Ron Frankel's Burlington warehouse was full of the fabrics used in car doors, seat covers, sun visors, seat belts and headboards — making up half of his textile distributing business.

That part is not nearly as busy nowadays as the three major domestic car manufacturers struggle.

"During the boom days, we were getting trucks and trucks of fabric," said Frankel, president of Loomcraft Textiles, which exports surplus material from textile manufacturers. "That area is tightening up dramatically."

Once one of the dominant industries in the Carolinas, the textile industry has managed to keep a hold in the region through becoming specialized, often by producing the fabrics used in car doors and seats.

But like other auto suppliers, this industry sector has seen trouble lately as the three major domestic car manufacturers struggle, though opportunities still exist for textile firms dealing with foreign auto companies.

Monday's news that General Motors was filing for bankruptcy protection, on the heels of a similar filing from Chrysler in April, has manufacturers from around the Carolinas worried about the future of the automotive textile industry.

"In a troubled economy, this was a knock-out punch," said John Edwards, a senior account manager at Nan Ya in Lake City, S.C., which makes industrial yarn used in automotive fabric, among other uses. "Nobody knows what to make."

To read the complete article, visit www.charlotteobserver.com.

Related stories from McClatchy DC

politics-government

What's next for a humbled GM after its bankruptcy?

June 01, 2009 11:43 AM

economy

Can a government of politicians keep politics out of GM?

June 01, 2009 05:10 PM

politics-government

Answers to questions about GM's bankruptcy

June 01, 2009 04:21 PM

economy

What did GM's bondholders get? Equivalent of a toy pony

June 01, 2009 03:32 PM

economy

In a restructured GM, no new role for UAW

May 29, 2009 02:36 PM

economy

To GM's already full plate, add new fuel economy standards

May 29, 2009 07:10 PM

Read Next

Video media Created with Sketch.

Policy

Are Muslim-owned accounts being singled out by big banks ?

By Kevin G. Hall and

Rob Wile

December 17, 2018 07:00 AM

Despite outcry several years ago, U.S. banks are back in the spotlight as more Muslim customers say they’ve had accounts frozen and/or closed with no explanation given. Is it discrimination or bank prudence?

KEEP READING

MORE ECONOMY

National

The lights are back on, but after $3.2B will Puerto Rico’s grid survive another storm?

September 20, 2018 07:00 AM

Investigations

Title-pawn shops ‘keep poor people poor.’ Who’s protecting Georgians from debt traps?

September 20, 2018 12:05 PM

Agriculture

Citrus disease could kill California industry if Congress slows research, growers warn

September 11, 2018 03:01 AM

Politics & Government

The GOP’s new attack: Democrats wants to ‘end’ Medicare

September 07, 2018 05:00 AM

Economy

KS congressman: Farmers are ‘such great patriots’ they’ll ride out Trump trade woes

August 30, 2018 02:17 PM

Midterms

Democrats’ fall strategy: Stop talking Trump

August 24, 2018 05:00 AM
Take Us With You

Real-time updates and all local stories you want right in the palm of your hand.

McClatchy Washington Bureau App

View Newsletters

Subscriptions
  • Newsletters
Learn More
  • Customer Service
  • Securely Share News Tips
  • Contact Us
Advertising
  • Advertise With Us
Copyright
Privacy Policy
Terms of Service