GM / Chrysler story
10-22-2008, 04:45 PM
#81
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RE: GM / Chrysler story
As a Chrysler employee I don't know what would happen or what to think of it. I don't see any reason for Cerberus to merge with GM, this almost completely benefits GM and really doesn't give anything to anyone else. Related that, Chrysler is the one with more money, I believe they have 11 billion in reserve, and there stocks are now worth more. Cerberus already owns 20% of GM, and I also don't see them dishing out the more money to own more of GM because I really don't think they want to invest any more into the auto industry. As far as insider scoops we know just as much as anyone else... pure speculation at this point. I just don't see it happening.
10-23-2008, 03:32 AM
#82
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RE: GM / Chrysler story
Not looking good here folks.
Chrysler to close factory, cut shift at another
Oct 23, 7:17 AM (ET)
By TOM KRISHER
DETROIT (AP) - Chrysler LLC says it will eliminate one shift at a Toledo Jeep plant and accelerate the closure of its sport utility vehicle factory in Newark, Del., because of the slowing global economy and a continuing shift toward smaller vehicles.
About 825 workers at the Toledo North Assembly Plant will be laid off indefinitely as of Dec. 31. The Newark closure also will be effective at the end of the year and affect about 1,000 jobs, the company said in a news release.
The Toledo factory makes the Dodge Nitro and Jeep Liberty. Both have been selling slowly this year due to high gas prices and a slowing U.S. economy.
The Newark plant makes the slow-selling Dodge Durango and Chrysler Aspen sport utility vehicles. It originally was expected to close at the end of 2009.
Auburn Hills, Mich.-based Chrysler said in a statement that the changes will adjust inventory to better match consumer demand.
"The markets are facing unprecedented turmoil and we are in a time of historic change in the auto industry," Frank Ewasyshyn, Chrysler's executive vice president of manufacturing, said. "These tough, but necessary steps are vital to our long-term viability."
The company said it would work with the United Auto Workers to handle the layoffs in a "socially responsible manner."
The company in the past has offered buyout and early retirement programs to workers affected by plant slowdowns and closures.
Chrysler spokesman Ed Saenz said the Toledo North plant now is operating on two shifts. It has a total of 2,100 employees, 1,800 of whom are blue-collar.
Neither of its vehicles is selling well. Through the first nine months of the year, Chrysler sold 30,071 Nitros - 46 percent fewer than the same time last year. Liberty sales of 54,293 were off 21 percent through September, according to Autodata Corp.
The Newark plant has been running on one shift since July of 2006. The company announced its intent to shut the factory down in February of 2007. It has total employment of about 1,000, Chrysler said.
Chrysler to close factory, cut shift at another
Oct 23, 7:17 AM (ET)
By TOM KRISHER
DETROIT (AP) - Chrysler LLC says it will eliminate one shift at a Toledo Jeep plant and accelerate the closure of its sport utility vehicle factory in Newark, Del., because of the slowing global economy and a continuing shift toward smaller vehicles.
About 825 workers at the Toledo North Assembly Plant will be laid off indefinitely as of Dec. 31. The Newark closure also will be effective at the end of the year and affect about 1,000 jobs, the company said in a news release.
The Toledo factory makes the Dodge Nitro and Jeep Liberty. Both have been selling slowly this year due to high gas prices and a slowing U.S. economy.
The Newark plant makes the slow-selling Dodge Durango and Chrysler Aspen sport utility vehicles. It originally was expected to close at the end of 2009.
Auburn Hills, Mich.-based Chrysler said in a statement that the changes will adjust inventory to better match consumer demand.
"The markets are facing unprecedented turmoil and we are in a time of historic change in the auto industry," Frank Ewasyshyn, Chrysler's executive vice president of manufacturing, said. "These tough, but necessary steps are vital to our long-term viability."
The company said it would work with the United Auto Workers to handle the layoffs in a "socially responsible manner."
The company in the past has offered buyout and early retirement programs to workers affected by plant slowdowns and closures.
Chrysler spokesman Ed Saenz said the Toledo North plant now is operating on two shifts. It has a total of 2,100 employees, 1,800 of whom are blue-collar.
Neither of its vehicles is selling well. Through the first nine months of the year, Chrysler sold 30,071 Nitros - 46 percent fewer than the same time last year. Liberty sales of 54,293 were off 21 percent through September, according to Autodata Corp.
The Newark plant has been running on one shift since July of 2006. The company announced its intent to shut the factory down in February of 2007. It has total employment of about 1,000, Chrysler said.
11-02-2008, 08:47 AM
#84
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RE: GM / Chrysler story
I am not sure the government can block the merger of the two companies... maybe there is a way they can..??
I understood that the government just refused to openly be a part of the funding to do so because of the plant shutdowns and layoffs that would follow. Might look bad to the American people and taint thier image...
11-02-2008, 08:49 AM
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RE: GM / Chrysler story
ORIGINAL: mopar2ya
Might look bad to the American people and taint thier image...
Might look bad to the American people and taint thier image...
11-02-2008, 09:21 AM
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RE: GM / Chrysler story
Those jobs are going to be lost one way or the other I think because almost all of GM's & Chrysler's cars are unappealing. Without sales a company can't survive. They have had decades of pressure from foreigners and they still make a lot of ugly, bland cars. They will never learn. I don't think they have good management and apparently they never will. Let them die I say. And hopefully another company will make the Challenger.
11-02-2008, 10:39 AM
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RE: GM / Chrysler story
ORIGINAL: Billionaire
Those jobs are going to be lost one way or the other I think because almost all of GM's & Chrysler's cars are unappealing. Without sales a company can't survive. They have had decades of pressure from foreigners and they still make a lot of ugly, bland cars. They will never learn. I don't think they have good management and apparently they never will. Let them die I say. And hopefully another company will make the Challenger.
Those jobs are going to be lost one way or the other I think because almost all of GM's & Chrysler's cars are unappealing. Without sales a company can't survive. They have had decades of pressure from foreigners and they still make a lot of ugly, bland cars. They will never learn. I don't think they have good management and apparently they never will. Let them die I say. And hopefully another company will make the Challenger.
