Survey: Auto Execs Forecast More Bankruptcies

Law360, New York (January 4, 2007, 12:00 AM EST) -- A new survey of automotive executives offers a bleak picture for the industry, with more bankruptcies expected in the next five years.

The KPMG survey of 150 automotive executives from across the globe found that 56% of executives think the rate of bankruptcy filings will rise over the next few years, while 31 percent expect the rate to remain the same. Only 10% say the rate will decline.

However, the survey, which was released Thursday, did not see bankruptcy filings as waving the white flag for...
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