by Tom Tolen The Livingston Community News
Tuesday June 02, 2009, 3:52 PM
General Motors, the once-mighty corporate giant whose brands were household names and its plants the lifeblood of many U.S. communities, filed its Chapter 11 petition in New York this week, marking the fourth-largest bankruptcy in U.S. history and the largest for an industrial company.
It's hard to gauge what the impact will be on Livingston County, but it's not good, according to local automotive and economic experts.
While the county does not have any auto assembly plants, it is home to many suppliers, several of which have closed their doors in recent months, putting hundreds out of work, said Livingston County Economic Development Council Director Fred Dillingham.
Auto supplier, Metaldyne, which has a facility employing about 100 people in Hamburg Township, also filed for Chapter 11 bankruptcy protection last week.
A company spokesman said it's unclear if this move will affect the Hamburg plant.
"We have a number of companies with as much as 90 percent of their business from GM; we have an awful lot of trickle-down effect from GM," Dillingham said. More here.