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About 70 percent of the company's business is automotive â€" General Motors is Nyloncraft's No. 2 customer, behind Firestone, said Jim Krzyzewski, Nyloncraft's president and chief executive.
When the government bailed out Chrysler in 1979, the company had a long-term plan, Krzyzewski said.
"You look today in Detroit, you haven't got that," he said.
So Nyloncraft, which produces plastic parts for automakers, is building up the corporate equivalent of money under the mattress â€" a rainy day fund just in case.
"We have to hoard cash," he said.
"The thing that I kind of look at is, could we survive as a business if GM did go bankrupt?
I think we could."
GM will continue to do business, either through the bailout or through bankruptcy, Krzyzewski said.