Lear Corp. yesterday announced they were filing bankruptcy. They are a top Global500 company with over $13 billion in revenue last year and 85,000 employees. At one point a couple of years ago, their revenue topped $17 billion with 115,000 employees.
So, as we look across this landscape of companies in this sector that have filed or merged, we see GM, Chrysler, Collins & Aikman, Lear, Delphi, Dura, Fedral-Mogul, Metaldyne, Monaco Coach, Plastech Engineered Products, Visteon.
That’s a heavey toll.