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split710

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split710

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Friday, 03/13/2009 8:08:23 AM

Friday, March 13, 2009 8:08:23 AM

Post# of 33753
Auditors raise concern about American Axle's future,



By MarketWatch
March 13, 2009
NEW YORK (MarketWatch) -- Auto-parts maker American Axle & Manufacturing Holdings may be unable to continue as a going concern, according to auditors Deloitte & Touche. In a letter included with the company's 10-K filing on Friday, the auditors cite "significant unfavorable consequences" that could arise from the potential inability of General Motors Corp. and Chrysler LLC to continue as going concerns themselves. According to the 10-K filing, sales to GM and Chrysler made up about 84% of American Axle's total net sales in 2008.
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