Japanese Companies Brace For GM Bankruptcy

More than 100 Japanese companies face possible bad debts if General Motors Corp. files for bankruptcy, a private credit research agency said Wednesday.

GM has close business ties with 102 Japanese companies, Teikoku Databank Ltd. said. They include auto parts makers and suppliers such as Aisin Seiki Co. Ltd., Bridgestone Corp. and Mitsubishi Electric Corp.

GM said Wednesday that not enough of its bondholders agreed to swap their debt for company stock, meaning that the money-losing auto giant is likely to be headed for bankruptcy protection.
 

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Agent00R - 5/28/2009 11:32:18 AM

+2 Boost

That's what a lot of people don't understand.

There will be a trickle-down effect from this calamity.

M53R - 5/28/2009 11:40:48 AM

+1 Boost

That's something everybody should know though.

NItePhire - 5/28/2009 2:50:24 PM

+2 Boost

I think that they do know it but dont really care due the fact that they feel it doesn't affect them directly.