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Chrysler Plans Month-Long Shutdown
BAR wrote:
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. Even if your numbers are correct, they are still a private company. |
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