[bam]

Chrysler LLC is shutting down all its North American factories for at least a month due to the ongoing credit crisis and plunging sales. Chrysler announced today that all plants will be idled at the end of production Friday, Dec. 19.

Yay!:ct:

[WoolyGoat]

this isn't gonna get much play in here

[BIRD33]

Welcome Chrysler!

[bam]

I just realized where it was lol And you're completely right

[WoolyGoat]

lookit how I moderated that shit

[bam]

Good job- thank you

[Paddy]

Cerberus Capital Management invested $7 billion in Chrysler after Daimler dropped it like a hot potato.

$7 billion just happens to be the $$$ Chrysler asked for on Capitol Hill.

Both Dan Quayle and John Snow (GWB's former secretary of the treasury) are on the Board of Directors.

They want their $$$ back before they drop Chrysler too.

[bam]

Cerberus Capital Management invested $7 billion in Chrysler after Daimler dropped it like a hot potato.

$7 billion just happens to be the $$$ Chrysler asked for on Capitol Hill.

Both Dan Quayle and John Snow (GWB's former secretary of the treasury) are on the Board of Directors.

They want their $$$ back before they drop Chrysler too.

But of course!

[BIRD33]

Chrysler will never succeed.I read that for people who buy cars the % of repeat buyers for certain brands like Toyota is around 60 some % but for Chrysler its around 20 some %.I was for the bail out of the industry but I'm now for a more limited version of it and letting Chrysler go bankrupt.

[bam]

Thankfully we don't do too much Chrysler business. 90% of our business is with Toyota and Nissan, but if we love Ford & GM we're going to be in a lot of pain regardless.

[BIRD33]

Ford will be fine.GM is iffy.

[bam]

Yeah, I think you're right on that. GM is screwed I think, no matter if they get bailout money or not.

[Michman]

Thankfully we don't do too much Chrysler business. 90% of our business is with Toyota and Nissan, but if we love Ford & GM we're going to be in a lot of pain regardless.

What kind of work do you do?

[BIRD33]

I was reading something how NASCAR is going to be totally screwed because 99% of their cars are from the big 3 and the government isnt going to allow them to give all that free stuff to NASCAR anymore.I could care less but its interesting how a whole sport will be down the tubes because of the economic crisis.

[Paddy]

I was for the bail out of the industry but I'm now for a more limited version of it and letting Chrysler go bankrupt.

AIG were not supposed to use their bailout $$$ to pay executive bunuses. So instead they're making 'retention payments', some as high as $4 million. They're afraid that people will run off to other jobs in an industry that's laying off thousands?

[bam]

What kind of work do you do?

Fleet leasing primarily

[BIRD33]

AIG were not supposed to use their bailout $$$ to pay executive bunuses. So instead they're making 'retention payments', some as high as $4 million. They're afraid that people will run off to other jobs in an industry that's laying off thousands?

They are afraid they will get sued by their employees for breach of contract for not paying bonuses.They made bad deals but it doesnt mean they don't have to honor them.

[Paddy]

Sure, but when they default on the "loan" they got I won't be surprised.

[BIRD33]

Thats were your portion of the bailout money comes in.

[Paddy]

They took my $4 million and gave it to some senior exec? Bastards.