Watching the Chrysler bankruptcy with wi-fi from my mid-Michigan couch
May 01, 2009
It's a gray Friday morning (UPDATE: Actually, the sun came out at 8:05 a.m.) here in mid-Michigan as the state wakes up on the day after the Chrysler bankruptcy. Looking out my living room window, the grass is very green, but I'm sure that the mood outside could be colored uncertain.
With my wi-fi and from my Lazy Boy couch, I'm trying to follow what's happening to the auto industry and how it's affecting our state's economy. I'll try to post here throughout the day what I'm reading along with impressions and questions.
- Why a Chrysler bankruptcy now and not earlier when it could have been done without the government and all the taxpayers' money?
- Is it true that Chrysler workers will receive 80 percent of their pay while plants are shutdown?
- Where's their pay for not working coming from? The taxpayers?
- From Wikipedia, the list of Chrysler plants is long with many being here in Michigan. What would be more interesting would be to see the list of supplier plants for Chrysler and how many employees they have.
- Chrysler's website makes no reference to its bankrupt status.
- Michigan's Mackinac Center in reacting to the bankruptcy observes that the Obama talk makes fed action sound more like a jobs program than making the company profitable. Will the lack of a profit focus doom the action to failure?
- Detroit News business columnist Daniel Howes raises questions about whether the fed's assertion that Chrysler will come out leaner and more competitive. For the plan to work, consumers still have to buy cars. (Added to this post at 7:56 a.m.)
- What effect will the Chrysler bankruptcy have on state of Michigan tax collections? They certainly won't increase. How much will they go down? Will more cuts have to be made to the state budget? (Added to this post at 8:04 a.m.)
- Here's the fallout from the Chrysler bankruptcy as seen by the Detroit Free Press. The list seems rather incomplete. I'd feel cheated if I plunked down 75 cents for a Freep at the newsstand. (Added to this post at 8:28 a.m.)