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4-30-09 Apex, NC

We will never forget this day. Ever. A heavy rain is falling in Detroit and Walter Chrysler is turning over. The Dodge Brothers have tears running down their cheeks and are now forever the Blues Brothers. And everyone in the now defunct Chrysler LLC is on pins and needles waiting for the shiny shoe of the White House to drop.

Interesting it was done on the last day of the month and the last day of the quarter. Perfect timing to go bankrupt. Any car guy would have waited a day or two. But the spokesperson, the announcer, the gentleman with the shiny shoes, is no car guy. He is the President. Wow... No one from Chrysler announced this powerful change.

Over time this could be a good thing. But we are looking at 12-18 months from now. Allegedly Chrysler Financial goes away and GMAC walks in. GMAC? I would be careful with that too. Time will tell with GMAC financing Chrysler customers.

What happens to dealers, suppliers, employees, inventories, floorplan, warranties, and the success of all the local businesses tied to Chrysler? One in seven are directly or indirectly supported by the auto industry.

Bankruptcy can be messy... Does Delphi come to mind?

Chrysler as a company stops right now. It goes to bankruptcy court. Assembly plants close NOW. This impacts every aspect of the US economy and this will set back consumer spending.

I have family at Chrysler. I have good friends at Dodge stores. I just pray and hope everyone making this decision today knows what they are doing.

Godspeed and BUY AMERICAN.

Views: 30

Tags: Chrysler, Dodge, Fiat, Financial, GMAC


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