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as they are pretty much being laid-off until January 19,2009, effective at the end if this Friday's shift. All of the companies manufacturing facilities will be closed, which means that 30 plants will see no work. That's some 46,000 UAW workers who will now sit at home over the holidays thanks to people like Bob Corker and the rest of the Republican Party killing off an auto bailout package for purely political reasons.
Chrysler says these employees will receive state unemployment benefits as well as supplemental payments from Chrysler during the layoff according to a union negotiated formula.
These workers will not be receiving their regular income. There will be an unknown number of white collar workers who will not be working as well, but the expectation is that they will continue to receive their regular salaries during this time.
As for the number of cars and trucks not being built -- the privately held company (which wants billions of your tax dollars) will not disclose that information.
The company says dealers are telling them there are buyers out there, but they can't get financing and as a result, have lost 20 to 25 percent in sales. One bankruptcy expert predicted that while Washington tinkers with how much aid to provide and under what conditions, the auto companies will continue their game of chicken.
I see the " sky is falling " scenario up next, just as was with Wall Street. Both sides of this equation will play chicken and in the end it will be the taxpayer which loses either way.
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