I’m not much of an auto mechanic, but from my combing the news for bits about financial matters, I’ve learned how important axles are! As a bankruptcy lawyer with offices not only in Indianapolis, but providing bankruptcy services in sixty counties around the state of Indiana, I have helped thousands of people with their financial problems. Many of my bankruptcy clients either are or once were employed in the automotive industry. So, my interest in axles comes not only from the fact that I and my family members own cars, but because I need to understand al the economic factors that impact my bankruptcy clients. And lately, as I’ve said, axles have been in the news a lot.
To give a little background, the latest big story started with a strike by American Axle & Manufacturing Company auto union workers in New York and Michigan. That led to the 6000 Indiana auto workers being idled. Even though American Axle has no factories here, American Axle makes most of the axles used on Chevy and GMC pickup trucks, and those axles are used in automotive plants in Indiana. One good thing that happened was that, to keep the truck assembly plants operating, GM closed a plant in Texas and one in Flint that were making other types of vehicles, and then used the axles meant for those places for pickup truck plants in Ft. Wayne. That decision helped save some auto jobs in our state. On the negative side, falling orders from GM have affected several hundred Indiana workers in Indianapolis, Marion, and Bedford.
It’s a struggle – a glimmer of good news here, a chunk of bad news there. All the layoffs make it very tough even for many financially responsible individuals to keep the bills paid. And that’s where Indiana bankruptcy help in the form of the court system comes into play, offering a safety net to help Hoosiers hard hit by circumstances beyond their control get a chance at a fresh start.