Word: carred
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...time Chrysler filed for Chapter 11 yesterday, it was no longer a large American company. Although the firm is private, most estimates are that the No.3 U.S. car company may only have $35 billion in revenue this year. If that is true, it would not be among the top seventy companies in the Fortune 500. Its 2009 sales may be less than Apple's (AAPL). With 54,000 employees, Chrysler has fewer workers than Cisco (CSCO...
...fascination that Americans have about this drama is more about Chrysler as a memory than what it is today. Forty years ago, the company was the fifth largest in America, almost as big as GE (GE), and larger than IBM (IBM) and AT&T. The car firm trio held three of the top five slots in terms of annual sales in the U.S. They were a significant part of national GDP and employed almost over 1.3 million people. (See the 50 worst cars of all time...
...There is something about the American car companies that has frozen them in time. Perhaps it is the millions of cars that were bought over the last twenty years, most of which are still on the road. It may be that the public still remembers Lee Iacocca and Henry Ford II as though they were still running the companies. Whatever the reason, the idea that one or two of the car companies could go into bankruptcy caused a substantial amount of anxiety around the country. Perhaps if the economy were bustling, people would not care so much...
...forced into liquidation. Creditors may be able to convince a judge that all parties involved would do better if Jeep could be sold to Toyota (TM) and Dodge to VW. If that were to happen, it would not necessarily mean many lost jobs. Any firm that buys a car company's assets still needs people to operate the assembly plants and design the cars. The jobs lost in liquidation might actually be fairly small...
From an early age, Timothy Wright, 61, excelled at playing the piano at his church. Later he composed music that would make him a Grammy-nominated gospel star. He died on April 23 from injuries suffered last July, after a vehicle driven in the wrong direction collided with his car, killing his wife and grandson...