Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
As posted above the two week shutdown is nothing new and some of the shutdowns over the past 6 months have been due to too much inventory. Especially true for Chrysler
I am with a supplier and have heard rumors about us shutting down for a week. it will probably be considered a temporary layoff.
9 weeks sounds long but these days its nothing. I would not be surprised if, during the shutdown, they announced an extension.
Its the June 1st deadline that will determine if they have to file bankruspy that is more worrying to employees ;I am sure.I really doubt either way that they will reopen all those plants.
I believe it just the Unionized workers that will get pay at or above 70% of their base pay (i.e., GM will have to make up the difference between the $387 per week unemployment compensation and a UAW workers 40 hour paycheck). The white collar workers will on get the $387 per week unemployment compensation. You also have to remember all the contractors and suppliers supporting GM that will also be laid off. If Ford and Chrysler follow suit there could be a huge domino effect in Michigan for layoffs.
Now there is talk that Chrysler and GM may have to File for Bankruptcy protection. If true a lot of suppliers will be going bankrupt as well.
I bet they file bankruptcy while the plants are closed. Maybe the bankruptcy filing will impact the union contract such that the employees don't get the additional money past unemployment.
So let me get this straight, we had to inject millions into these car companies because they were "too big to fail" and could not be allowed to go BK as it would be a disaster of epic size.
Now after injecting all this dough they're going BK because it's the best thing?
What kind of crack is the government smoking? Or do they think we are?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
