Chrysler to Shut Factories for a Month
Us auto makers need to change the whole
industry. If they don't make major changes
soon the entire industry will be closed and
all cars will be imported. A bailout will
not work f they continue business
The company said the plants, which employ 46,000 union workers, would resume production no sooner than Jan. 19. Some will remain closed for several more weeks. Normally, the Detroit automakers close their plants for about two weeks at the end of the year.
In addition, Ford Motor said Wednesday evening that it would extend the holiday shutdown at most of its plants to a third week.
Meanwhile, worries that Chrysler could be forced to file for bankruptcy have spooked many auto dealers into borrowing so much money from the automaker’s lending arm that the company said it might need to suspend the loans.