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Article: Slump in auto sales, Canadian bids hurting tool shops.(Brief Article)
- Article from:
- Crain's Detroit Business
- Article date:
- November 12, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Andy Romas has developed a new management skill: breaking bad news.
Romas is the manager of operations at Apex Broaching Systems Inc., a tooling company in Warren, and he's cut his staff of 18 in half since the beginning of the year.
``We have no business,'' Romas said. ``I have a couple of cat-and-dog projects, but we have no cash flow.''
Apex's revenue has gone from $4 million last year to about $1 million this year, which might allow the company to break even, Romas said. Apex is just trying to hang on until the economy picks up, which he thinks will happen in the second quarter of next year.
Apex's story is one that can be told by ...