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This Just In.

Publication: Crain's Detroit Business
Publication Date: 18-DEC-06 		Format: Online
Delivery: Immediate Online Access
Full Article Title: This Just In.(automobile industries helping Collins & Aikman Corp. to come out of bankruptcy)(Jennifer Granholm starting new projects for high education)

Article Excerpt
Automakers again subsidize C&A

Five automakers have agreed again to help subsidize Collins & Aikman Corp. until the bankrupt interiors supplier can sell off its operations in pieces.

Detroit's automakers, Honda North America Inc. and AutoAlliance International Inc. will buy inventory from Collins & Aikman and cover shortfalls that the supplier incurs from operating its 45 plants in North America.

An initial inventory sale will yield more than $25 million.

The cost of subsidizing operations was intentionally not disclosed in U.S. Bankruptcy Court, said John Boken, Collins & Aikman's chief restructuring officer. Based on previous subsidies, the tab could run to tens of millions of dollars. Boken declined to discuss the amount of the subsidy.

Ultimately, the customers will have to...

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