Chrysler Shutting Down for a Month

[ScionDriver]

As of Friday Chrysler is going to shutdown all of their production at all 30 of their plants for 30 days. That puts a damper on the holidays. This is really getting bad.
Chrysler shuts down all production - Dec. 17, 2008 (http://money.cnn.com/2008/12/17/autos/chrysler_shutdown/index.htm?postversion=2008121717)

[Kitdy]

Jalopnik made the point of saying that they never specifically say that they will reopen again - unintentional likely but pretty funny. They say something like they will open again no sooner than date X.

[clutch-monkey]

only a month? damn it.

[cmcpokey]

i would say its the beginning of the end of chrysler, but that really started when Daimler sold them off.

[LTSmash]

i would say its the beginning of the end of chrysler, but that really started when Daimler sold them off.

It was a smart part on Daimler's part too. They only had 20% in Chrysler anyway. There's speculation though from Daimler's buyer (Cerb) that they didn't give Cerb the correct analysis on Chrysler's risk.

As far a shutting down for a period of time, it could have been avoided givin UAW's cooperation (well that's 'one' thing that would have prolonged shutting down). Those auto workers need to take a cut or lose benefits because they are bleeding the system.

[Dino Scuderia]

GM, Chrysler reopen merger talks: Journal
By Barbara Kollmeyer
Last update: 6:19 a.m. EST Dec. 18, 2008
Comments: 1
MADRID (MarketWatch) -- General Motors Corp. and Chrysler LLC have reopened merger talks, according to a report in The Wall Street Journal on Thursday. The latest move comes as Chrysler owner Cerberus Capital Management LP has indicated its willingness to give away part of its ownership in the carmaker, the report said, citing people familiar with the discussion. With cash low at both companies, Cerberus reportedly took the initiative to restart talks that failed weeks ago, when both GM and Chrysler saw a business combination as impractical and a distracting from growing liquidity issues. Chrysler and GM are fighting to survive amid that cash shortage with help from the White House after a plan to secure loans failed in the Senate last week. On Tuesday, Treasury Secretary Henry Paulson said the automakers will get a lifeline from the government as soon as it's prudent. Citing people familiar with the discussion, The Journal said Cerberus feels it has to be flexible on the use of its ownership stake in Chrysler in order to arrange a combination of Chrysler's finance arm with that of GM's. Part of Cerberus's strategy, say those people, is to protect its majority investments in GMAC, in which it holds a majority stake, and Chrysler's Chrysler Financial unit.

MarketWatch.com

[Ferrer]

It was a smart part on Daimler's part too. They only had 20% in Chrysler anyway. There's speculation though from Daimler's buyer (Cerb) that they didn't give Cerb the correct analysis on Chrysler's risk.
There are those who say that in the 90's Chrysler was a perfectly healthy car maker and that the Daimler merger completely ****ed them up.

[ScionDriver]

The worse part of all this bad business that Chyrsler has been dragged through is that all their cars are getting made with no improvements. How can you improve an existing car model when you have no money and when your company is shutdown? Chyrsler's haven't been the best cars around in a while anyway and now they are going to be like year old or more cars when they start making them again.

[Matra et Alpine]

It only says PRODUCTION is shutting down, so design and prototyping and test likekly still running

[5150]

Where's Lee Iacoca when Chrysler needs him most?

[zeppelin]

*Changed Chyrsler to Chrysler in thread title for ya*

[<AAA-MOD>]

interesting to see a couple emails from the Chrysler press department over the last few days; the subject was "Chrysler Adjusts Production". They really try to put a not-so-negative spin on everything.

[f6fhellcat13]

interesting to see a couple emails from the Chrysler press department over the last few days; the subject was "Chrysler Adjusts Production". They really try to put a not-so-negative spin on everything.

Chrysler increases production by a negative number.