Having not secured any bail out money from congress just yet, Chrysler and Ford have exercised the nuclear option of shutting down production in ALL plants for at least a month (Or perhaps until the government coughs up some dough). Although the manufacturers normally shut down production for 2 weeks around this time, the extra time is not normal.
Expect the stock market to dive off a cliff tomorrow or the day after.
update:
It would seem that many automakers around the globe are doing the same thing. Auto sales seem to be cratering world wide. So has the Mortgage Ponzi scheme along with the Spike in gas prices over the summer killing the auto industry? I know for myself I have went a purchased a 4 cylinder high MPG (and mileage) car for "daily" driving and letting the higher consumption (and far more fun to drive) vehicle to sit more often. Gas prices might be low now but I'm not getting caught out there when they spike again. It's bad enough I have to use premium fuel.
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