Friday, November 02, 2007

Here We Go Again

Chrysler has to cut eight to ten thousand jobs to remain competitive. Newspaper headlines are saying 12,000 jobs or 1/3 of Chrysler's workforce being cut.

It is unfortunate to say the least and Michigan will no doubt lose a good sized chunk of those jobs, as three of the five affected plants are in Michigan.

Is there good news for Michigan anywhere?

Very depressing.


Blogger ChrisA said...

Another little reason that I'm glad I left a while back.

8:40 PM  
Blogger Bloviating Zeppelin said...

But, as I'm sure you're abundantly aware, Chrysler isn't Chrysler once again; whereas before they were DaimlerChrysler (Germany's Mercedes Benz/
Daimler having bought them out), they are now "owned" by Cerberus. Witness:

"In Greek mythology, Cerberus guarded the gates of Hades. Anyone who challenged the three-headed dog was ripped to shreds. In American business, the Cerberus private equity group guards the investment firm’s cash. Unlike the mythical canine, they don’t wait for foolish interlopers. They seek out struggling companies and rip them to shreds– sorry, “turn them around.” For reasons yet to be revealed, the United Auto Workers (UAW) have welcomed today’s announcement that Cerberus has purchased Chrysler from its German overlords. Is someone about to teach an old dog some new tricks?

Ever since DaimlerChrysler’s management announced they would practically give Chrysler away explore all options for resolving Chrysler’s financial problems, the unions have fiercely opposed the automaker’s sale to an equity fund. UAW President Ron Gettelfinger listed it as the least desirable scenario possible."

This equity group couldn't give a shit less about cars; they're about to perform a Gordon Gecko on Chrysler. They've already cut various platforms to include the Dodge Magum and Jeep Compass, to name a very select few.


10:16 PM  
Blogger Bob said...

I heard on the radio that there was a new contract, but I have to come to your blog to find out its effect on workers! Another victory for unions?

2:40 PM  

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