U.S. rejects GM's call for help in a merger

U.S. rejects GM's call for help in a merger

I have an immediate family member who works for Chrysler who asked me not to say anything about this until after November 1st. (This is not some world wide exclusive or anything but he just wasn't sure how much to say publicly at first.)

Here's the deal: Chrysler is offering buyouts to every single salaried employee in the company with no upper limit on how many can take the package. Packages consist of cash based on term of service, a $25,000 voucher for a car (or you may keep the company car you are currently issued) and 6 months of health coverage.

So he's taking the package. They are giving out the packages on Monday before Thanksgiving and they must be signed and returned on Wednesday before Thanksgiving.

For those of you in Sussex county that means they will reopen on Monday the 24th without the slightest clue how many salaried employees they have. Some plants are expecting 80% of their salaried employees to take the package. Imagine if you came to work Monday morning and 80% of your peers are gone.

Said family member also predicts that Chrysler will not exist by the end of the year with plants being gobbled up by GM, Tata, et al.

What the hell are the dealer's going to do with their inventory? I drove by a ginormous Dodge dealership the other day and there were literally hundreds of cars on the lot. Who is going to buy them if the company no longer exists?


Popular posts from this blog

Sean Thomas Lugano

My Entire Career in a nutshell

Quote of the day #2