• Hello Customer - Log in or Register!
Date: 2013-08-01

Concerns for Bearing Industry Direction

The Bearing Industry Code of Conduct has been highly critical towards the corrupt activity of SKF and Schaeffler, however there's an even greater concern on the horizon.

Firstly, the SKF-Schaeffler 'Price Fixing Cartel' conviction without apologising for ripping mega millions from global customers and more recently the 'Schweinfurt catch' Fake counterfeit fraud, currently under review by governing criminal prosecutors. Coupled with Schaefflers takeover of the Continental Group now in free-fall from 75 Euros to 19 Euros a share translating into a massive loss that could break banks and other financial institutions from lending to the Schaeffler family, an unprecedented fallout.

Secondly, the severe downturn in the Automotive Industry caused by global warming, oil shortage, credit crunch etc. with people opting for public transport. And now with Thompsons Reuters report on the Industrial industry in decline illustrated by Timken and Kaydon shares losing ground.

Thirdly, China's diminishing capacity for the thirst of commodities, Japan daunting double digit Recession, global population doubles over 15 years, world banks in turmoil and trading futures no where to go.

The Boards of Bearing Corporations should take notice of these pending demographics and if necessary replace those Directors responsible for known illegal activity, speculative behaviour and corporate greed to a more conciliatory attitude to cope with current global concerns.


Previous: ZKL Bearings the New image of Modern Europe
Next: GGB Offers New Bearings Brochure for Spanish Market

Hot Products:
Product Model Inside Diameter Outside Diameter Thickness
7905CDT KOYO 25 42 18
7405BDF KOYO 25 80 42
【TradeBearings News Statement】

1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"TradeBearings".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.