Chrysler to 'temporarily' idle all manufacturing plants starting Monday

bond_trad3r · Apr 30, 2009

http://www.google.com/hostednews/ap/article/ALeqM5jjHS8S3jIndU2oI6WHB_KqB-pvwAD97STLKO4

It's a good thing our president said this bankruptcy will last 30 to 60 days. Any longer and all those idle employees would start to get worried.

Also how does a company go into bankruptcy and its pension liabilities are NOT dumped on the Pension Benefit Guarantee Corporation.

If Chrysler will now be operated not to seek profits but to support the government and UAW, how will hey ever compete in a free market place. The government is going to have to heavily subsidize Chrysler if it hopes to keep it out of bankruptcy again.

Trendytrader · Apr 30, 2009

Quote from bond_trad3r:

http://www.google.com/hostednews/ap/article/ALeqM5jjHS8S3jIndU2oI6WHB_KqB-pvwAD97STLKO4

It's a good thing our president said this bankruptcy will last 30 to 60 days. Any longer and all those idle employees would start to get worried.

Also how does a company go into bankruptcy and its pension liabilities are NOT dumped on the Pension Benefit Guarantee Corporation.

If Chrysler will now be operated not to seek profits but to support the government and UAW, how will hey ever compete in a free market place. The government is going to have to heavily subsidize Chrysler if it hopes to keep it out of bankruptcy again.

Chrysler should be renamed USSA Motors Ltd. New models will be called LADA's.

Thermactor · Apr 30, 2009

Chrysler has a unique accounting system. Instead of FIFO or LIFO inventory control methods, they've elected for GIGO and and that's what's put them in this place.

clacy · Apr 30, 2009

Quote from Thermactor:

Chrysler has a unique accounting system. Instead of FIFO or LIFO inventory control methods, they've elected for GIGO and and that's what's put them in this place.

This company is toast. The only thing yet to be determined is how much government money is sunk into this black hole before the US moves towards fiscal conservatism.

TraderZones · Apr 30, 2009

Chrysler is basically good assets: Jeep, pickup trucks and a minivan business, weighed down by lousy cars, debt and union.

thriftybob · May 1, 2009

2 months shutdown for starters. Same as GM. We'll now see how much the values/prices drop. The increasing ranks of unemployed and underemployed won't be buying new cars any year soon.

S2007S · May 1, 2009

Right, in 2 months everything will be back to normal, a company that size does not enter in and out of bankruptcy in only 2 months.

traderyin · May 1, 2009

Quote from S2007S:

Right, in 2 months everything will be back to normal, a company that size does not enter in and out of bankruptcy in only 2 months.

NOT WHEN LORD OBAMA WANT IT TO HAPPEN THAT QUICKLY!