[vfast]

DETROIT (AP) - Chrysler LLC said Wednesday that it is closing all 30 of its manufacturing plants for a month starting Friday as it seeks to counter the most severe downturn in U.S. auto sales in more than two decades.

By extending the traditional two-week holiday shutdown period, the struggling Auburn Hills, Mich.-based automaker can adjust production to slowing demand and conserve cash.

In a statement Wednesday, Chrysler said tighter credit markets are keeping would-be buyers away from its showrooms. The company said its dealers are unable to close sales for buyers due to a lack of financing, and estimate that 20 to 25 percent of their volume has been lost due to the credit situation. Sales in November slid 47.1 percent.

Chrysler and larger rival General Motors Corp. have warned they could run out of cash within weeks without financial aid from Washington. Chrysler has said its cash will drop to $2.5 billion by Dec. 31, the minimum needed to meet payroll, pay suppliers and run the company. It would have trouble paying bills after the first of the year.

Operations will be idled at the end of the shift on Friday, Dec. 19th shift. the earliest plants will reopen is Jan. 19, 2009. A few plants will reopen on Jan. 26.

Chrysler is seeking $7 billion in government loans as it tries to survive the recession and the worst U.S. auto sales slump in 26 years. For the first 11 months of this year, Chrysler sales are down 27.7 percent to 1.4 million vehicles from 1.9 million for the same period last year.

With the U.S. sales slump expected to continue into January, traditionally one of the slowest sales months of the year, the company has little revenue coming in and must pay suppliers $7 billion every 45 days.

In the case of some plants, such as the Toledo Jeep plant in Ohio, operations will resume January 26, but with one less shift. More than 750 workers are being cut on the second shift at the Toledo North plant, said Dan Henneman, United Auto Workers union official for Local 12.

Chrysler's Jeep Liberty, Nitro and Wrangler are assembled at the Ohio plants. Sales of the company's Jeep-brand vehicles fell 41.8 percent in November to 20,302 units.

Henneman said 755 people worked the shift. About 550 workers took a retirement package and 200 will be indefinitely laid off.

General Motors Corp. and Ford Motor Co. have announced extensions of their holiday shutdowns as well.

Chrysler is privately held, with 80.1 percent owned by New York private equity firm Cerberus Capital Management LP.

[White Thunder]

awesome!

[Regency 2007]

The UAW made a statement today, "If the automakers go bankrupt, we want 95% of pay if we go out of work."

So basically, we want to be paid 95% of our paycheck and not work at all. F! the UAW and all other unions.

I believe they are the biggest problem in the autoindustry. Makes me want to buy a Yota or sumthin

[04mustang232]

Originally Posted by Regency 2007 The UAW made a statement today, "If the automakers go bankrupt, we want 95% of pay if we go out of work." So basically, we want to be paid 95% of our paycheck and not work at all. F! the UAW and all other unions. I believe they are the biggest problem in the autoindustry. Makes me want to buy a Yota or sumthin

That just shows how unions work. GM cant afford to pay 70 year old people who retired 20 years ago the same paycheck they made while they worked. Id tell UAW to fuck off, plain and simple. You dont work, you dont get paid.

[stangfreak]

fuck the UAW. i'd drop my Laborer's card and work in that plant non-union for $15/hr

[vfast]

*L* laborer

[Regency 2007]

I think the union people are just looking or an opportunity to get out of work and still get paid, and they love to protest as much as I enjoy shooting guns or wakeboarding...

[04mustang232]

God forbid they have a normal job that doesnt put up with that bullshit. They would never last without their precious union shield.

[stangfreak]

Originally Posted by vfast *L* laborer

what's wrong with working for a living?

Originally Posted by Regency 2007 I think the union people are just looking or an opportunity to get out of work and still get paid, and they love to protest as much as I enjoy shooting guns or wakeboarding...

it's picketing not protesting and i've never done it in my life

[vfast]

no that's coal miners..they stike at hunting seasons......

Originally Posted by Regency 2007 I think the union people are just looking or an opportunity to get out of work and still get paid, and they love to protest as much as I enjoy shooting guns or wakeboarding...

[stangfreak]

i'll tell you what, i've worked at the fairfax GM plant a dozen times and those motherfuckers have it GREAT! fucking A/C, break rooms everywhere, great cafeteria. it makes me sick. the Claycomo Ford plant on the otherhand, it's brutal. no A/C

[vfast]

and you now see who has the most $$$ ford!

[stangfreak]

Originally Posted by vfast and you now see who has the most $$$ ford!

CNN said Ford could make it through the next year

[MSO]

Originally Posted by stangfreak fuck the UAW. i'd drop my Laborer's card and work in that plant non-union for $15/hr

hell yea

not like they actually do real work anyways

"we have to tighten bolts! woe is us! pay us $50 an hour!"

[MSO]

Originally Posted by vfast and you now see who has the most $$$ ford!

the new CEO of ford actually has a head on his shoulders

[futureMACH1racer]

Fuck the UAW, I have family that have worked at Chryslers for years. My great grandfather and great grandmother both retired from Chrysler about 60yrs ago. They had about 30yrs in, and collected a pension and retirement for nearly 60yrs. That's a little fucked up if you ask me.

[vfast]

no their lucky....unions are like a pyramid scheme

[JASonic]

does this mean my Durango will go up in value?LOL.

This is needed. They need to do this. Im surprised they didnt wait for the check for the government though.

[vfast]

yes the value will go up at the crusher

Originally Posted by JASonic does this mean my Durango will go up in value?LOL. This is needed. They need to do this. Im surprised they didnt wait for the check for the government though.

[futureMACH1racer]

No, scrap is way down my friend.