Breaking News - Chrysler

[Issachar]

I titled this "Breaking News ..." because that is what came up on the local news just now. Chrysler is shutting down, temporarily, 4 plants which includes the Toledo Jeep plant. If any of you have followed any of my threads/posts over the past couple years, you know that the Toledo, Ohio area is being hit extremely hard economically. The Jeep plant in Toledo has been shut down for very many weeks since last July. January 10th was the last day of work for all the TPT's (Temporary Part Time), some of whom had been there up to 7 years under that status and January 25th marked the elimination of third shift at ALL North .......... 4 hours later :) ....... American Chrysler plants. This past week the Jeep plant was shut down and this week, first shift is supposed to work and be off next week while second shift works, etc. until further notice. Well this morning, first shift went in to work and a few hours later they were informed that a supplier that makes dash boards closed ..... no notice. With all the ridiculous JIT (Just In Time) inventories, there is no tolerance for breaks in the system. (I remember a few winters ago an announcement on the news one icy evening that third shift didn't need to go in (Jeep) because a truck slid off of the road somewhere in Indiana and so they didn't have parts.) So now they are shut down again this week. I know a lot of brothers and some sisters in Christ that work there and even more that work for related industries. We are all praying that things will go on ok but many are wondering .....

Crazy days.

Issachar

[Cindy S.]

http://money.cnn.com/news/newsfeeds/articles/djf500/200802041456DOWJONESDJONLINE000570_FORTUNE5.htm

DETROIT -(Dow Jones)- Chrysler LLC said Monday it idled four assembly plants and may close other production operations in the wake of a contract dispute with bankrupt parts maker Plastech Engineered Products Inc.

The auto maker is idling its Sterling Heights, Mich.; Newark, Del.; Toledo, Ohio and Belvidere, Ill. assembly plants affecting 10,500 workers, spokeswoman Michele Tinson said. Chrysler is seeking permission from a federal bankruptcy court to access its machines in Plastech plants that exclusively make Chrysler parts.

Plastech, which makes interior trim, underhood components, bumper and other exterior components and cockpit modules, filed for bankruptcy Friday after Chrysler, its fourth-largest customer, pulled the contracts and it couldn't get any financial aid from its remaining customers to avoid Chapter 11. As part of the filing, the court issued an automatic stay freezing all assets.