Word: detroits
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...meantime, Chrysler is melting away. In response to pressure from Obama administration, Chrysler has proposed more plant shutdowns. Set to be closed, according to sources familiar with the discussions inside the company, are assembly plants in St. Louis, Mo., and Brampton, Ontario; engine plants in Detroit, Trenton, Mich., and Kenosha, Wis.; and another plant in Mexico that builds big engines. Chrysler's assembly plant in Sterling Heights, Mich., also has been identified by some analysts as a possible candidate for closure. If executed, the shutdowns would further downsize a company that is already far smaller than it was only...
...rescue package - or face potential bankruptcy - the United Auto Workers has been in no rush to make concessions. "As I see it, the United Auto Workers union has a choice. They can [shed] some jobs or they can take a pay cut," says a financial consultant based in Detroit. "Naturally when you're faced with two bad choices, there is a natural tendency to procrastinate...
...said that money for the cash-for-clunkers program needs to come out of existing stimulus spending, that might take some creative accounting. But a cash-for-clunkers program, whatever its environmental benefits, would provide the government with a way to aid the domestic auto industry without giving Detroit any more direct handouts. "There's a lot of justifiable taxpayer reluctance to keep helping the auto industry," says Goldstein of the Center for American Progress. "Politically this is a viable alternative to sending them additional loan money...
...especially the sort of customers who would own a clunker in the first place. "Either this program won't make them buy, or they're just poor," says Wolkonowicz. But a cash-for-clunkers deal with tough enough fuel standards would at least be a way to throw Detroit another lifeline without sinking the planet - even as Washington seeds longer-term demand for more-efficient vehicles. The key, like any used car contact, is to check the fine print...
...pictures of the remains of Detroit...