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Chrysler Closing All 30 Plants For 1 Month
Troubled Automaker Needs To Match Production To Slowing Demand; Ford Confirms Longer Holiday Shutdown
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DETROIT, Dec. 17, 2008
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(AP)



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(CBS/ AP) Chrysler LLC said Wednesday that it is closing all 30 of its manufacturing plants for a month starting Friday as it seeks to counter the most severe downturn in U.S. auto sales in more than two decades.

By extending the traditional two-week holiday shutdown period, the struggling Auburn Hills, Michigan-based automaker can adjust production to slowing demand and conserve cash.

In a statement Wednesday, Chrysler said tighter credit markets are keeping would-be buyers away from its showrooms. The company said its 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. Sales in November slid 47.1 percent.

Chrysler and larger rival General Motors Corp. have warned they could run out of cash within weeks without financial aid from Washington. Chrysler has said its cash will drop to $2.5 billion by Dec. 31, the minimum needed to meet
 

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On another panic front today,

suppliers will follow suit.

and no thats not going to be normal when they are all shut down for 1 month.

I know of this happening, as of today.
 

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I have a feeling this shutdown wil be permanent.
just a feeling
 

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Discussion Starter · #11 ·
I have a feeling this shutdown wil be permanent.
just a feeling
thats my feeling too. after 1 month they may extend it to 2 months, then permanent?


now the both presidents are urging bankrupcy.


these banks are so called "too big to fail"

why arent the big 3 considered too big to fail? they kinda are, when they fail it will be catostrophic for america you wait and see.
 
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