Chrysler to Suppliers: You Think I'm Funny? Do I Amuse You in Some Way? Funny How? Funny Haha?
The "run on the bank" supplier scenario we predicted for Chrysler is coming to pass. We've already reported that Chrysler's been playing silly buggers with their payment (stretching terms to keep the cash flowing flowing). And now ChryCo is beginning to face the predicted backlash. At the Traverse City management ho' down, Chrysler's executive vice president for procurement did his best Joe Pesci imitation for insolent suppliers, The Detroit Free Press and TTAC's Best and Brightest. "If a supplier wants to push us because of their fear [that we're going bankrupt], then they're violating the contract that's in place and I will take the necessary actions," John Campi intoned. "I have had suppliers come to me with a gun to my head and I say, 'I am not going to let you shut down production, but if you are serious then you have to live with the legal consequences.' And the legal consequences are not the end of it because if somebody does that, I can tell you they will not be
walking around very long a supplier of choice."
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