Business Services Industry
Only the truly strong suppliers survive unpredictable markets.(Brief Article)
Crain's Detroit Business, May, 2000 by Miel, Rhoda
In November, toolmaker Gerald Hobson listened in on a presentation by a growing automotive plastics part supplier. The company executive laid out the firm's acquisition strategy, its sales numbers, and its long-term plans for the future. ``After he was done, I said to myself that I wished I had a piece of that company,'' said Hobson, the president of Hobson Mould Works of Shell Rock, Iowa.
``It was very impressive.'' Last month - four months after Hobson heard about Key Plastics L.L.C. at the conference - the company entered bankruptcy court, filing for protection from creditors under Chapter 11. ``Now I'm saying to myself that I'm glad I didn't have any money in that company,'' Hobson said. ``I'm shocked at what happened.'' But the change in fortune...
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