Dismal: Chrysler Corp Closing ALL Auto Plants for one month starts Dec 19th - No CASH

[HOLLYWOOD]

Just announced on Bloomberg Financials....

Chrysler is shutting down all operations for 30 days, Starting December 19th! Running out of CA$H!

What's so special about December 19th? In my infinite wisdom , I found this little snippet. an ANNIVERSARY!

1979 U.S.A. Chrysler

December 19th, 1979 : Chrysler receives a $1.5 billion government loan to help put the company back on its feet. 1979

29 years to the day... how about that!

so a little more on 1979 cost of living data points:

How Much things cost in 1979

Yearly Inflation Rate in US: 11.2%
Year End Close Dow Jones Industrial Average: 838
Interest Rates Year End Federal Reserve: 15.25%
Average Cost of new house: $58,100.00
Average Income per year: $17,500.00
Average Monthly Rent: $280.00
Cost of a gallon of Gas: 86 cents
Sony Walkman: $200.00
Jox Trainers: $14.99

 

[Truth Warrior]

Yeah, they probably just used up all of their CASH, giving out fat Christmas bonuses and golden parachutes to all of their Executives.

 

[angelatc]

Oh well, so sad.

30 years, and nothing has really changed - Chrysler has proved again that it runs an incompetent business model.

 

[Cali4RonPaul]

Sad thing is even though they shutdown many operations for one month they still have to pay their workers, though slightly less..

 

[Hoffman]

Sad times indeed. I've been a Chrysler fan since watching the dukes of hazzard at age 5. Hope the cars live on and the greedy corporate management dies.

 

[ihsv]

But the thing is, that's going to effect all their suppliers. The automakers just put the pieces together. Everything that can be outsourced is outsourced. So imagine what that's going to do to all those hundreds of other factories that supply parts to them.

 

[amonasro]

http://www.bloomberg.com/apps/news?pid=20601110&sid=a6_dyTuWDwIM

Dec. 17 (Bloomberg) -- Chrysler LLC, awaiting a federal rescue as its cash dwindles, will shut all 30 of its plants for at least a month starting Dec. 19 as unsold cars and trucks pile up at showrooms.

Ford Motor Co. said it will idle most of its North American assembly plants for the first week of January, while General Motors Corp. said a new factory making engines for the Chevrolet Volt electric car is being delayed to conserve cash.

 

[Dianne]

CNN was spinning the shut down as related to their failure to sell cars, due to the credit crunch. Why that's impossible.... didn't you and I just pay upwards of 5 trillion aka 7 billion bailout, of our tax dollars to the banks to free credit?

There is definitely something rotten going on in them thar hills. Give me a state that will secede and I'm moving to it.

 

[HOLLYWOOD]

CNN was spinning the shut down as related to their failure to sell cars, due to the credit crunch. Why that's impossible.... didn't you and I just pay upwards of 5 trillion aka 7 billion bailout, of our tax dollars to the banks to free credit?

There is definitely something rotten going on in them there hills. Give me a state that will secede and I'm moving to it.

CNN = Time Warner = Time Magazine = Socialist Chromed Communists = Barack Kenyan Obama... TIME's: Immigrant of the Year

The only CHANGE we can expect are the CHANGE from Campaign promises and misleading statement and use of Loopholes.

CHANGE!

 

[Zippyjuan]

How Much things cost in 1979

Yearly Inflation Rate in US: 11.2%
Year End Close Dow Jones Industrial Average: 838
Interest Rates Year End Federal Reserve: 15.25%
Average Cost of new house: $58,100.00
Average Income per year: $17,500.00
Average Monthly Rent: $280.00
Cost of a gallon of Gas: 86 cents
Sony Walkman: $200.00
Jox Trainers: $14.99

So inflation is lower today, interest rates are a lot lower, the cost of a personal radio less (iPods today), and allowing for inflation gas is lower too. Don't have figures for average rent. The DOW is way up- increased ten fold.

 

[JordanL]

CNN was spinning the shut down as related to their failure to sell cars, due to the credit crunch. Why that's impossible.... didn't you and I just pay upwards of 5 trillion aka 7 billion bailout, of our tax dollars to the banks to free credit?

There is definitely something rotten going on in them thar hills. Give me a state that will secede and I'm moving to it.

Montana passed a resolution during the 2nd amendment case that if the Federal government decided it wasn't a personal right to bear arms, they were going to secede, since a personal right to bear arms was part of the treaty they signed with Congress to become a state.

 

[devil21]

Well there's a new level of stupidity from US automakers. Chevy is halting production on their "flagship hybrid" Volt. Go ahead and churn out more Tahoes instead. Smart ones, those GM execs.

 

[JordanL]

Well there's a new level of stupidity from US automakers. Chevy is halting production on their "flagship hybrid" Volt. Go ahead and churn out more Tahoes instead. Smart ones, those GM execs.

I believe their halting construction of a new line to make the volt in favor of making products they can actually sell. Cutting R&D to spend on production when you dont have cash for both.

Which is pretty basic business.

 

[devil21]

I believe their halting construction of a new line to make the volt in favor of making products they can actually sell. Cutting R&D to spend on production when you dont have cash for both.

Which is pretty basic business.

I didnt really understand what you just said? Anyway, GM is halting the Volt development plant (the car that supposedly will rescue GM) in order to build more cars that they already can't sell enough of to keep solvent. I don't think that's basic business.

 

[JordanL]

I didnt really understand what you just said? Anyway, GM is halting the Volt development plant (the car that supposedly will rescue GM) in order to build more cars that they already can't sell enough of to keep solvent. I don't think that's basic business.

So your response is basically "I have no idea what you said, but I know why you're wrong."



C'mon people... being mindless sheep is what got us here. Being mindless sheep for the "right" side isn't any better.

 

[moostraks]

All this griping and moaning,(from the other companies, not y'all!) we have known for over a month the local Lordstown GM plant is closed for a month, and two weeks ago they extended it to 6 weeks. Give them a few more days and I am sure they will extend that figure. Yesterday they said they are delaying the Cruz engine manufacturing but that it won't disrupt the production of the Cruz going forward as planned. In this area, this much uncertainity and numerous interconnected businesses to GM being shuttered will be a frightening blow to the local economy.

And yet on the heels of receiving a notice from the state that our county schools are failing in math and english, we lay off police officers and firefighters due to lack of funds but the county school superintendant gets herself a raise.AAAAHHHHHHHH!!!!!!!!!!!! What are they thinking?!?!?!?

 

[Primbs]

And yet on the heels of receiving a notice from the state that our county schools are failing in math and english, we lay off police officers and firefighters due to lack of funds but the county school superintendant gets herself a raise.AAAAHHHHHHHH!!!!!!!!!!!! What are they thinking?!?!?!?

It is typical big government thinking.

 

[devil21]

So your response is basically "I have no idea what you said, but I know why you're wrong."



C'mon people... being mindless sheep is what got us here. Being mindless sheep for the "right" side isn't any better.

No, I said I didnt understand what you said and clarified my earlier statement. How about you clearly state what you mean so I don't have to decipher it out through your bad grammar and misspellings?

 

[echebota]

Is it true that UAW emploees still get paid when they don't work? In case of a bankrupcy, the UAW pentions would dissapear or would be picked up by Fed government? I read it somewhere but can not find the source. Can somebody confirm that?

 

[devil21]

Is it true that UAW emploees still get paid when they don't work? In case of a bankrupcy, the UAW pentions would dissapear or would be picked up by Fed government? I read it somewhere but can not find the source. Can somebody confirm that?

Yeah, they are getting like 80% of their normal pay during the shutdown. There's also a program called the Job Bank where idled UAW workers still get paid even when the business is operating and they are sitting on their couches at home. It's stuff like that that is helping to kill these companies. The Feds would pick up the pensions but through a federally backed "insurance agency" already set up to do it, the Pension Benefit Guaranty Corp.. Supposedly the money was already paid into by the member companies so taxpayer cash wouldn't be used. Im not so convinced but that's what they say.