[Beastmaster]

I wonder if GM's woes affected their income stream at SMA.

Let's look at it from this view. Dana files Chapter 11. Delphi is hurting. Visteon is hurting. All of the downstream suppliers are getting hosed by the automakers.

Of course, GM would pay Delphi way before they would pay SMA. So SMA's stuck holding the bag for mounting debt while GM's making money on vehicles that contain the very tire carrier that SMA is making.

Looking into the crystal ball further - let's say (for fantasy's sake) that SMA had the exclusive contract for H2 and H3 accessories, and no one else did. If GM has enough parts inventory for about 6 months, what will they do from there?

Especially since SMA holds the patent on the H2's tire carrier and most of their variants. Anyone buying the rights to the tire carrier needs to (IIRC) assume the majority of debt as well.

So - GM may very well have screwed their own selves by shafting their downstream providers. People will only work on a debt basis for so long until they force GM to pay cash on the barrel head up front. And GM won't be able to shaft too many people much more....