Thursday, April 23, 2009
Auto Industry in Motion
GM is instituting mandatory summer "vacation" at 13 plants, and Chrysler seems destined for bankruptcy.
at 4:18 PM
Labels: bankruptcy, Chrysler, GM, layoffs
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Listening to the WBBM 780AM in Chicago, there was speculation that GM's announcement of extended closures was cover for a bankruptcy filing during that time. The idea being that people wouldn't buy a car from a bankrupt car company, so they figured they'd close the factories, declare bankruptcy, and try to work things through fast enough so that the stripped-down car company would be up and running by the time the factories they decided to keep were ready to start again.ReplyDelete