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April 30, 2009 04:34 PM
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I think that this depends on the part that is being supplied. Essential parts are coming from a business whose workers now have a government job. I do not think that Chrysler will be allowed to fail, and I don't think that bankruptcy equals failure. It equals who will loose their shirts and who won't. The unions and the suppliers will loose something, but will maintain their jobs. The bond holders and stock holders will loose big time.
My grandfather, who farmed all his life, once told me, "No farmer ever made a living after 1916, who was not in the farm support program."
That was an exaggeration, but it implied that the farming industry became a government job after price supports were introduced in 1916.
This has now happened to the auto industry. And make no mistake. Those auto companies whose headquarters are located in other countries, but whose plants are in the US will receive some kind of help, but it will be quiet and the Republicans will not complain about it, because the plants being helped are located primarily in Red states.
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This Chrysler Chapter 11 bankruptcy is stressing me out . . .what will it mean for the supplier chain?
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| April 30, 2009 05:24 PM | view on twitter |
My grandfather, who farmed all his life, once told me, "No farmer ever made a living after 1916, who was not in the farm support program."
That was an exaggeration, but it implied that the farming industry became a government job after price supports were introduced in 1916.
This has now happened to the auto industry. And make no mistake. Those auto companies whose headquarters are located in other countries, but whose plants are in the US will receive some kind of help, but it will be quiet and the Republicans will not complain about it, because the plants being helped are located primarily in Red states.
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Other Answers (1)
May 01, 2009 02:46 AM
Bankruptcy would mean that chrysler is out for sale .It would be put on sale for a new owner or in case no one comes forward then asset of chrysler would be put for auction to settle the dues of creditors . In both cases there would be delays . So you have to keep your finger crossed ,any way dues would be cleared and production may commence soon .
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