James McElya has seen just about every possible scenario played out in his 33 years in the automotive supplier market,
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He was there when most large industrial companies owned auto supplier divisions and lived through up and down markets,
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For successfully guiding the automotive supplier through the downturn and to a place where his successor realistically can expect strong growth prospects,
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McElya began his career right out of high school,
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Cooper Tire Rubber Co. then bought Standard Products,
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"When I joined the automotive [components] industry it was primarily made up of divisions of big companies,
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"I have watched the automotive industry transition from that time in the 1980s,
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Private equity came in because the big corporations decided they could earn more in other parts of their businesses,
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"The private equity model is put as little as you can down and finance the rest,
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Cooper Standard experienced that firsthand. When Cooper Tire sold the business to Cypress Group and Goldman Sachs Capital Partners in 2004,
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The private equity companies,
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McElya was president and CEO of Cooper Standard until September 2006. Despite the debt,
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That wasn’t the end of his tenure,
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"I was in the process of retiring,
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For Cooper Standard,
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"It’s like having a huge mortgage on your house and having your income cut in half,
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McElya and Cooper Standard executives looked for places to reduce costs. They cut pay across the board by 10 percent,
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Ultimately,
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"Personally this was very painful,
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Filing for bankruptcy,
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In the long run,
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The whole ordeal wasn’t without pain,
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Fortunately for the management team,
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Throughout the ordeal,
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With automotive sales rebounding,
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"Our balance sheet is strong,
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Cooper Standard ranks No,
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James McElya and Rhonda Buckley,
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