Chrysler All But Dies

The news late today that Chrysler is shutting down all its factories across North America would appear to be the death knell for this once former automotive manufacturing giant. The company, rescued once before in 1979 with a federal loan from the Carter Administration and brought back to health by Lee Iacocca in the early 1980s, has been in a steep decline this decade and now appears at death again. Promises by the Bush junta to bail out Chrysler as well as equally ill GM after legislation failed in the US Senate earlier this month have not come about so far. But now it maybe too late for Chrysler, as the company is totally broke and beset with overwhelming liabilities. General Motors may not be far behind Chrysler in dying the way things are going across the nation as the recession continues to strongly deepen and become more perilously close to becoming a depression.

http://www.chicagobreakingnews.com/2008/12/chrysler-closing-all-30-plants-for-a-month.html

http://online.wsj.com/article/SB122953853010114835.html?mod=testMod

http://www.idahostatesman.com/eyepiece/story/606498.html

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