Auto supplier's heirs may sell Detroit Pistons
Crain's Detroit Business has a package of stories in today's issue on the legacy of Bill Davidson's corporate holdings following his death last year. Those holdings include the high profile Detroit Pistons pro basketball team, but also Guardian Industries Corp., and its subsidiary SRG Global Inc., created by combining Guardian's plastics operations and its acquired Siegel-Robert Inc. auto business. SRG -- the plastics part of Davidson's empire -- is not mentioned in the stories. The reports speculate about why Bill Davidson's wife, Karen, is interested in selling assets now, and they explain who is in charge. A spokeswoman for Karen Davidson says she isn't selling assets to pay estate taxes. A former minority owner of the Pistons says Bill Davidson's death "brought on myriad problems" -- some related to the economy -- that have Karen Davidson and other minority owners and estate trustees willing to sell the team. Bill Davidson's fortune was valued at $2.1 billion last year, down from $5.5 billion in 2008.
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