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Metals crash- Big 3 auto adjusting costs, or bought forward contracts ?
Posted by: cbelt3
Date: December 04, 2008 10:01AM
Is the 'buyout' demand properly analyzed and cost accounted ? Metals prices worldwide have crashed back to the pre-china bubble days. Did the "Big 3" forward buy metals at outrageous prices, and are we paying for those bad business decisions ?

I suspect the answer is "Yes".

We're in the process of beating our metals suppliers into reducing costs, and canceling our forward contracts as needed. The suppliers don't like it, but who is gonna buy ? It's a buyer's market.
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Re: Metals crash- Big 3 auto adjusting costs, or bought forward contracts ?
Posted by: MacMagus
Date: December 04, 2008 10:35AM
It's not just metals.

It seems that they're taking any opportunity to threaten or sue suppliers in the hopes that arbitration will result in renegotiated contracts. Notably, Chrysler is trying to force Johnson Controls to renegotiate their present battery deal with a lawsuit. It's interesting watching to see who will cave first.
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Re: Metals crash- Big 3 auto adjusting costs, or bought forward contracts ?
Posted by: lafinfil
Date: December 04, 2008 11:29AM
US Steel closing down a few [www.bnd.com]



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Re: Metals crash- Big 3 auto adjusting costs, or bought forward contracts ?
Posted by: freeradical
Date: December 04, 2008 01:18PM
Metals prices have retreated some, but they're still up there...







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Re: Metals crash- Big 3 auto adjusting costs, or bought forward contracts ?
Posted by: andypie48
Date: December 04, 2008 10:36PM
i don't think gold is the metal they are talking about.
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