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Auto-Parts Suppliers Reportedly Face Credit Crunch

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Auto-Parts Suppliers Reportedly Face Credit Crunch

Business

Auto-Parts Suppliers Reportedly Face Credit Crunch

Auto-Parts Suppliers Reportedly Face Credit Crunch

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Auto executives were at the White House on Tuesday. The Wall Street Journal reports they were talking to administration officials about the financial troubles faced by those who supply parts for their cars. Lenders are increasingly refusing to extend credit to parts suppliers that do much their business with Detroit's Big Three automakers, the paper reports.

RENEE MONTAGNE, host:

Turning now to another industry in crises, auto executives were at the White House yesterday. They were talking to administration officials about the financial troubles faced by those who supply parts for their cars. The talks were reported in the Wall Street Journal. The Journal says lenders are increasingly refusing to extend credit to parts suppliers who do much of their business with the Big Three automakers. Suppliers say a million jobs are at risk. Earlier this month, the suppliers submitted their own rescue plan to the government.

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