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Detroit, 5:17 AM
Mon Nov 30
13 posts in the last 24 hours

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  • posts about #visteon more →

    Parts Supplier Visteon Files For Bankruptcy

    Visteon At $0.02 Per Share

    3M, Visteon BMW X-Wave Concept Demonstrates Future Of In-Car Tech

    A Car of the Future by a Tape Company? 3M Says Yes

    Performance Pays! Visteon Loses $163 Million In 2006, CEO Gets $10.8 Million Compensation Package

    Breaking! Visteon First Quarter Profits Released! Wait — Profits?!?!

    Visteon: USB Memory Sticks to Replace CD Changers by 2006

    Ford May Shutter Some Plants, Will Assume Control of Certain Visteon Facilities
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    Dsmvwl  Admin  Promote to frontpage Approve user Ban user ×
    Image of bmoreDLJ bmoreDLJ
    05/28/09

    In reply to Parts Supplier Visteon Files For Bankruptcy
    Next time, don't invest so much in orange dots, only to forget to dot the I.
     Reply
    bmoreDLJ was starred bmoreDLJ was unstarred
    Image of acarr260 acarr260
    05/28/09

    @Town of the Big House DLJ: nice! made me laugh
     Reply
    acarr260 was starred acarr260 was unstarred
    Image of Ben Wojdyla Ben Wojdyla
    05/28/09

    In reply to Parts Supplier Visteon Files For Bankruptcy
    Meh, when I worked at Visteon three years it was constant crisis mode then, it's been constant crisis mode since, and Chapter 11 was pretty much inevitable. This is why Visteon's world headquarters was designed so it could be easily converted to expensive condos on a private lake.


    Really, it's not a surprise. Ford saw what GM did with Delphi, gathered up all it's unprofitable and expensive to operate electronics and motor plants and dumped them into a new company. Fords books looked great, it could go to the open market and force cost reductions at Visteon through competitive bidding. I was only a matter of time before Visteon had to file.

     Reply
    Ben Wojdyla was starred Ben Wojdyla was unstarred
    Image of acarr260 acarr260
    05/28/09

    @Ben Wojdyla: I would agree that Visteon and Delphi were doomed from the beginning. I'm kind of surprised that Visteon lasted this long.
     Reply
    acarr260 was starred acarr260 was unstarred
    Image of FTGDWolverineEdition'09 FTGDWolverineEdition'09
    05/28/09

    @Ben Wojdyla: The HQs are definitely a cool place to look at. I worked at a Brit company next door for 2 years. I still wouldn't want to live in that bum fuck Belleville/ Van Buren twp tho.
     Reply
    FTGDWolverineEdition'09 was starred FTGDWolverineEdition'09 was unstarred
    Image of Clashtastic misses Jalopnik 1.0 Clashtastic misses Jalopnik 1.0
    05/28/09

    @Formerlythegreatestdriver: Ricardo's building isn't that bad looking either. But Visteon HQ was definitely cool, besides the fact that it seemed it was mostly a waste of money, and most of it ended up being empty. I remember when they first opened it and going in on take your kids to work day, there was some cool stuff.
     Reply
    Clashtastic misses Jalopnik 1.0 was starred Clashtastic misses Jalopnik 1.0 was unstarred
    Image of Ben Wojdyla Ben Wojdyla
    05/28/09

    @私はフォドが大好きですよ。: I think the best parts where the free gym, the totally awesome cafeteria and dining room, and feeding the fish in the lake. Screwing around outside in the forest or out around the lake during nice days was pretty good too.
     Reply
    Ben Wojdyla was starred Ben Wojdyla was unstarred
    Image of leavethegun-takethecannoli leavethegun-takethecannoli
    05/28/09

    In reply to Parts Supplier Visteon Files For Bankruptcy
    Who knows, maybe Ford will buy them back at a discount-
     Reply
    leavethegun-takethecannoli was starred leavethegun-takethecannoli was unstarred
    Image of Miscellanea Miscellanea
    05/28/09

    In reply to Parts Supplier Visteon Files For Bankruptcy
    There's also the rising problem of dealerships not honoring warranties due to late payments from the auto companies. This is truly just the beginning of changes to the American automotive landscape. Times...they are a changing.
     Reply
    Miscellanea was starred Miscellanea was unstarred
    Image of Graverobber Graverobber
    05/28/09

    In reply to Parts Supplier Visteon Files For Bankruptcy
    It should be noted that since being spun-off from Ford, Visteon has never been in the black.
     Reply
    Graverobber was starred Graverobber was unstarred
    Image of SirNotAppearing SirNotAppearing
    05/28/09

    @Graverobber: Which was nine years ago. Seems to me their business model is slightly flawed.
     Reply
    SirNotAppearing was starred SirNotAppearing was unstarred
    Image of carcrazy73 carcrazy73
    05/28/09

    @SirNotAppearing: much like Delphi...
     Reply
    carcrazy73 was starred carcrazy73 was unstarred
    Image of acarr260 acarr260
    05/28/09

    @carcrazy73: Exactly ilke Delphi... who is in bankruptcy protection and has missed their date to resume normal operations lately.
     Reply
    acarr260 was starred acarr260 was unstarred
    Image of Elhigh Elhigh
    05/28/09

    In reply to Parts Supplier Visteon Files For Bankruptcy
    It's going to be tough, tough year.


    Maybe it's time to buy stock in Cannondale.

     Reply
    Elhigh was starred Elhigh was unstarred
    Image of jrhmobile jrhmobile
    05/28/09

    In reply to Parts Supplier Visteon Files For Bankruptcy
    This is where the real hurt is going to come in. To survive, the biggest suppliers provided parts manufacturing and support engineering for all of the US manufacturers -- the Big Three and the transplants. The immediate economic impact will be substantial, but the rippling effect could be devastating.


    GM and Chrysler are on the ropes, and could suck down countless suppliers with them. It has small impact on these two, because they have bigger problems to deal with. The transplants, in an emergency, can go back to their home countries for parts and support if they need it. The company I'm most concerned about is Ford, as it finds itself negotiating a mine field with an unknown number of exploding suppliers in the coming months.

     Reply
    jrhmobile was starred jrhmobile was unstarred
    Image of acarr260 acarr260
    05/28/09

    @jrhmobile: well-said. I recall Chrysler's VP of procurement saying, maybe two weeks ago, that his biggest concern was suppliers still being in business when Chrysler is ready to resume production.
     Reply
    acarr260 was starred acarr260 was unstarred
    Image of Flathead Smith Flathead Smith
    05/28/09

    In reply to Parts Supplier Visteon Files For Bankruptcy
    I heard about 8 to 10 years ago that it took GM up to six or months or more to pay their bills to part suppliers; of course when there was an issue with the parts, GM wanted it fixed and restitution immediately. I imagine they are even worse now. So I fully expected this to start happening, am sure many others did too.
     Reply
    Flathead Smith was starred Flathead Smith was unstarred
    Image of RLJ676-LS3 Commuter Car - for the environment RLJ676-LS3 Commuter Car - for the environment
    05/28/09

    @Flathead Smith:


    More nonsensical rumors, but I'd believe them.


    FYI the terms are more like 60 days.

     Reply
    RLJ676-LS3 Commuter Car - for the environment was starred RLJ676-LS3 Commuter Car - for the environment was unstarred
    Image of acarr260 acarr260
    05/28/09

    @RLJ676-LS3 Commuter Car - for the environment: Everybody has been doing net 90 for a couple of years now. As a parts supplier (OEM / tier 1), we would kill for net 60 payment terms.
     Reply
    acarr260 was starred acarr260 was unstarred
    Image of engineerd engineerd
    03/06/09

    In reply to Visteon At $0.02 Per Share
    Does anyone know how well Visteon did selling its products to other automakers? I know they were doing alright for a while in Europe.
     Reply
    engineerd was starred engineerd was unstarred
    Image of aSoundofSleep-less nights aSoundofSleep-less nights
    03/06/09

    @engineerd thinks cannoli is deserving of a star:


    No one knows for sure.
    But when your stock is worth less than one play at a nickel slot in Vegas I can't imagine that you're doing very well.

     Reply
    aSoundofSleep-less nights was starred aSoundofSleep-less nights was unstarred
    Image of engineerd engineerd
    03/06/09

    @aSoundofSleep loves his cute little Roy-Roy!: Yeah, it's pretty bad when people can choose between playing 2 lines of a penny slot at Greektown Casino or buy a share of your stock.


    I knew Visteon NA was hurting for a long time. After the spinoff from Ford I don't think they were very good at getting much market penetration. Ford, meanwhile, was now free to shop around for the best deal on components.


    Visteon Europe was doing well. They did a better job at getting other carmakers to buy their components. We had an operation at their main headquarters/tech center in Kerpen, Germany.

     Reply
    engineerd was starred engineerd was unstarred
    Image of Syrax Syrax
    03/06/09

    In reply to Visteon At $0.02 Per Share
    I rather cruise the oceans in the Wallypower 118. The Veyron of luxury yatchs.
     Reply
    Syrax was starred Syrax was unstarred
    Image of Syrax Syrax
    03/06/09

    @Syrax, star dealer: Crap. How did that get here?
     Reply
    Syrax was starred Syrax was unstarred
    Image of Syrax Syrax
    03/06/09

    In reply to Visteon At $0.02 Per Share
    "In a sense, having a firm like Visteon file for Chapter 11 might be the wake-up call for the parties that are studying this ... to clearly understand what can happen and what the consequences are"


    Nah, we're fine.

     Reply
    Syrax was starred Syrax was unstarred
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