Auto plants shutting down

By GottaLaff

All 30 Chrysler plants will close for one month, per CNN. Ford is adding a week to its normal 2-week holiday shutdown schedule. 46,000 Chrysler workers will be affected.

The CNN money guy is saying this could trigger bankruptcy.

Chrysler union workers will be paid, but not full salary.

Chrysler announced Wednesday it is closing all its North American manufacturing plants for at least a month, the starkest move taken by U.S. automakers as they anxiously await word about government loans.

[...] Chrysler and General Motors fear they might not have enough money to pay their bills in a matter of weeks.

Attempting to cut costs, GM was halting construction of a plant tied to one of its most important projects, the Volt. Ford also said it will shut down 10 plants for an extra week in January because of sluggish sales.

Chrysler said it would extend the normal two-week holiday shutdown that begins Friday to at least Jan. 19 at all 30 of its factories due to slumping sales.

It's been more than a month since the White House started "looking at" what they could, or would, do.

Sluggish auto sales worldwide are taking a toll on foreign automakers as well. Honda Motor Corp. said Wednesday that it would halt expansion in Japan, Turkey and India and cut 450 temporary workers in Japan through February.

Nissan Motor Co. said it would reduce Japanese production by 78,000 vehicles and also cut 500 temporary workers there.