Word: chrysler
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Dates: during 2000-2009
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...through bankruptcy in 40 days, a slimmed-down General Motors emerged from Chapter 11 focused on just four brands: Chevrolet, Cadillac, Buick and GMC. The Federal Government, which has committed $50 billion to the company, took a majority stake and installed a new chairman. The restructurings of GM and Chrysler were considered coups for President Obama's auto task force, whose head, Steven Rattner, said he will step down...
...reason to be nervous. With sales running at less than 10 million units annually - the lowest level in more than three decades - there is still a mountain of inventory sitting with dealers around the U.S. despite deep cuts in production, not only by the bankrupt General Motors Corp. and Chrysler Group LLC, but also by companies such as Toyota, Ford and Nissan. (See the 50 worst cars of all time...
...most vulnerable? While 50 to 60 days' supply of cars is considered ideal, Chrysler is sitting on a 71-day supply and GM has an 82-day supply even after keeping most of their factories shut since the beginning of May. Some foreign-based automakers had even higher numbers: Suzuki has a 108-day supply, Jaguar dealers are sitting on a 92-day supply, Mitsubishi stands at 84 days and Mazda has 78 days of supply, according to estimates from dealers collected by J.D. Power & Associates. Honda, which traditionally has kept inventories lean, has a generous 64-day supply; Daimler...
...Canada's trade deficit. He expects the country's balance of trade to begin improving in the fourth quarter, with annualized GDP growth of 2.5% and 2.1% in Canada and the U.S., respectively. That sounds promising, but it's largely predicated on a successful restructuring of GM and Chrysler and a rebound in consumer confidence in Canada and the U.S. If these prickly issues do not show signs of real improvement, it's likely that the Canadian and U.S. economies will continue to shrink, or at best move sideways. (See pictures of retailers that have gone out of business...
General Motors' foreshortened bankruptcy, which was finished with the emergence last week of a "new" GM, owes a thank-you to the Chrysler Group for blazing a short, quick path through the courts...