Is Chrysler Going Under?

Chrysler, one of the big three auto makers in the United States, has decided to close all 30 of its manufacturing plants for one month. These closures are directly related to credit crisis. Chrysler says “there is still demand for its vehicles but that customers are unable to get financing deals” this is a major problem for the other two big auto makers in the U.S, Ford and Gm, but Chrysler seems to be the worst hit.

Chrysler employees are taking a forced break from their jobs, which, during the Christmas season especially, is not something that they want. They are being forced to rely on government unemployment benefits.

Chrysler has asked the government for a 7 billion dollar bailout saying that they risk bankruptcy is they do not receive it. The 14 billion dollar bailout for the entire U.S auto industry was recently scrapped. Chrysler is a privately owned company and some are wondering whether or not they should receive government aid.

The fact is millions of people will be out of work is Chrysler goes under. So the question becomes, risk having people all over the country lose their jobs. Or give 7 billion dollars to a private company.