Boater wrote:
BAR wrote:
Boater wrote:
Canuck57 wrote:
"Boater" wrote in message
...
Chrysler says to shut down all production for month
Wed Dec 17, 2008 6:27pm EST

DETROIT (Reuters) - Citing a credit crisis and dwindling sales,
Chrysler LLC on Wednesday said it would shut down all of its
manufacturing operations from the end of this week for at least a
month.

The blanket shutdown marked a deepening of the financial crisis for
the embattled U.S. auto industry and came as Chrysler and its
larger rival General Motors Corp both seek to shore up cash as they
seek a federal bailout they say they need to survive.

Chrysler, considered the weakest of the Detroit automakers, made
the announcement on its plant shutdown in a letter sent on
Wednesday to its employees, suppliers and the United Auto Workers
union that was also posted on its website.

Chrysler said its dealers were getting car shoppers into showrooms
but losing between 20 percent and 25 percent of those potential
sales because of the lack of consumer financing for new car purchases.

They are only weak because Cerberus took the cash out now wants to
pawn the dog on the US tax payers.

http://www.businessweek.com/bwdaily/...n_id=rss_daily


Now I wonder what happened to that $11 billion on Chrylsers books in
October? After all that is why GM wanted to merge.

Hint, this is a FRAUD scam on US citizens!!!

The idea all along for Cerberus was to buy Chrysler, strip it's
valuable assets for billions of profits up until earlier this year,
then repackage the dog parts and dump it on main street.


Isn't that the modern MBA Way?

That has been a problem for about 25 years. Company shouldn't have war
chests that big. Too ripe for a take-over. Use the cash to pay off the
acquisition and sell the high value parts for the most you can get and
sell whats left for whatever anyone will offer. You will usually walk
away putting money into your friends hands and putting a pretty penny
in your pocket too.


Idiot.

If a company has $5 billion in revenue and has $3 billion cash in the
bank and has a market cap of $10 billion it is ripe for a takeover.