Investor Ross sees supplier liquidations in '08

Newswire

DETROIT, Jan 22 (Reuters) - The struggling U.S. auto parts sector will face even more challenges in 2008 than 2007, with one or more large companies possibly falling into liquidation, billionaire distressed investor Wilbur Ross said on Tuesday. Ross also said the United States appeared to be slipping into a consumer-led recession despite the Federal Reserve's 0.75 percentage point rate cut on Tuesday. Auto production is expected to be down in North America, flat to slightly lower in ...

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