It is with very mixed feelings that I read that Chrysler is going into bankruptcy. According to the NY Times,
a swift, "surgical" process, was set to be filed in United States Bankruptcy Court in New York. It marks the first time a major American car company has tried to restructure under bankruptcy protection since Studebaker in 1933.
.
As a former factory worker for GM (Fisher Body), and the son and nephew and cousin of many GM employees, I was never a Chrysler fan, but it was a friendly rivalry rather trhan a wish for the demise of a company that has produced so many great cars, some dogs, and which supports many people in my old state of Indiana through its factories. I hope this is a good thing in the long run, though I am very sceptical that we are sacrificing our manufacturing base.
The article indicates that up to $8B may go into pulling this company through bankruptcy and back into business and that there is no expectation of significant layoffs at this time.
I expect this may lay the groundwork for more pressure on GM to resolve its status. This is the big elephant of the midwest, and many scores of communities depend on GM for the backbone of their economy. As the process goes forward, I hope everyone can keep in mind the billions and billions of dollars that GM and the atuo industry in general have contributed through taxes paid by the workers and the companies in all the decades that they have produced cars.
I, personally, hated working in the factory, but it paid the bills and gave me a start at a pretty good wage with no skills except strong arms. I hope that we can see a strong auto industry and a strong UAW emerge from the morass.
Single-payer health care would be a big help here.