Folks Of Interest Fram & Autolite belly up?

https://seekingalpha.com/news/4542746-ford-gm-first-brands-negotiations-financing

 

Just read that GM and Ford are looking at a bail out for First Brands, to keep their supply chains rolling. Not sure if this is true, wait has to be - was on the intranet!
Dan

 

I like Autolite 216s so this all prompted me to order some more to hoard.

 

Just saw a news item tonight that First Brands is shutting down Autolite, Cardone and Raybestos and liquidating them because they were unable to find buyers... not good.

 

...and the criminal arrest of First Brands founder and CEO for money laundering, and multiple counts of wire fraud and bank fraud.
Firm shutters Illinois plant, lays off hundreds of workers after arrests

 

Well, it looks like everything is going to go down the drain. Saw another news item today, seems they got some financing to 'get them through' the bankruptcy and even that disappeared, plus as an added issue if you employ more than 100 people you have to give advance notice of layoffs which they failed to do. That's a big $$$ obligation on what's left of the companies involved, so no one is even slightly interested in acquiring any of them. They were the main employer in a lot of places, this is going to decimate some of these towns...

And people wonder why there's so many 'government regulations'. It's becoming obvious that if no one is watching, they'll steal us blind.

 

How can someone who couldn't p*** the background check buy and run it? Oh, yeah.

 

I'm on the road in my motorhome and went to an O'Reilly's to replace some trailer electrical connections and First Brands is the source. No luck there and at NAPA.

 

I believe Reese and Tekonsha along with a couple other companies were trailer related businesses that were involved

 

https://www.hemmings.com/stories/th...up-bankruptcy-is-reshaping-the-auto-industry/