Chrysler closing all 30 plants for one month
By spalladino
@spalladino (17891)
United States
December 17, 2008 4:49pm CST
http://www.msnbc.msn.com/id/28284256/
[i]DETROIT - Chrysler says it will close all 30 of its manufacturing plants for a month starting Friday.
The company needs to match production to slowing demand and conserve cash.
Tighter credit markets are keeping would-be buyers away from their showrooms, Chrysler says. Dealers are unable to close sales for buyers due to a lack of financing, and estimate that 20 to 25 percent of their volume has been lost due to the credit situation.
Chrysler claims it is nearing the minimum level of cash it needs to run the company and will have trouble paying bills after the first of the year.
Operations at the 30 plants will be idled at the end of shift on Friday, Dec. 19, and will not come back online until Jan. 19, 2009, or later.[/i]
Does this change your opinion about the bail out? I heard on the news that you need a credit score in the high 700's in order to finance a vehicle right now so, with the credit situation in such a sorry state, would a bail out even help?
1 person likes this
4 responses
@ZephyrSun (7381)
• United States
18 Dec 08
I have always been in favor of loaning the automakers the money. I think they have made some mistakes in running their companies but, if the auto industry goes out it will push several states into a deep depression.
@thegreatdebater (7316)
• United States
18 Dec 08
This is fairly normal, every year they close down for two weeks this time of year for the holiday. This year they are going to stay closed for another two weeks, atleast they still have a job. The big three will be fine once the credit markets come back up. But, $350 Billion taxpayer dollars didn't do that, and we have no idea where this money went, and really who got it for what. Maybe the secritary of the treasury should have to testify in front of congress on where this money went and what it has accomplished. Bush gave hundreds of billions of taxpayer dollars to the same companies that got us into this mess. That is like giving the fox that just ate half of your chickens, the key to your other hen house.
