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Surviving
tough economic times in auto recycling
by Mike Breslin
According to economists in a recent Wall
Street Journal forecasting survey, the
United States economy is now in the midst
of the worst part of a recession, but
growth is expected to return by the second
half of 2009.
Gregg Lemos-Stein, a credit rating analyst
for Standard & Poor’s auto and
auto supply group, covering major auto
manufacturers and publicly traded auto
recyclers had this to say: “Auto
makers are in a very difficult position
as are scrap metal businesses and all
other suppliers closely tied to it, so
all suppliers are facing hard conditions
because some of their big customers are
Ford, General Motors and Chrysler.
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