Tier 1 suppliers join Covisint

Supplier reaction to Covisint remains mixed because suppliers aren't receiving an equity stake in the e-commerce company formed by the Big Three, Renault SA and Nissan Motor Co. Ltd. Still, heavy hitters Delphi Automotive Systems, Lear Corp., Johnson Controls Automotive, Federal-Mogul Corp., Magna International Inc., Meritor Automotive and Yazaki North America Inc. have all signed on. Covisint hopes these big names will help them clear Federal Trade Commission regulations so they can open up shop sometime in the third or forth quarter. Yet, the potential $750 billion Internet exchange has not yet named a CEO. Covisint says it is conducting interviews, and many of the candidates have experience launching Internet IPOs.