Another thing you might be missing is Chrysler had to shut down 4 plants earlier this month because of an ongoing dispute between the twos management, which ended into the temporary laying off of 10,500 workers and Plastech ending up with no part shipments for 4 days. Chrysler currently has management on the tool floors right now, and have had them in the building for the past week trying to reclaim Chrysler’s property.

My point is, Plastech is belly up in bankruptcy, and management. Part of that is amid oil prices rising, and much of it is amid angry, poor management and communication. Is it all Plastechs fault? No, you could also point to rising oil prices and inflation, but Plastechs already lost a fair amount of money because they can’t quit their endless bickering. They have had problems with almost ALL their other suppliers at the current moment too.

But despite this obviously being a company that needs a fair amount of help, financially and speaking of the corporation, and that there are numerous other suppliers with not only the newfound capacity, eagerness to make good products, but the need and management to do so, they rule that they can’t move the equipment to save the company! I only compared it to those other issues because it’s currently costing billions to house prisoners on deathrow, it’s something expensive that needs to go! Not to sound inhuman, but get real here!

Part of our inflation issue is due to the same thing- instead of going straight to the problem, they print out more money to “jump start” the economy! How do you think they decrease interest rates? Let alone, every Presidential Candidate right now is proposing the same ****, aside from Ron Paul who although is the only guy I would even consider voting for atcm, unfortunately has little chance in Presidency, to print out more money to keep companies like this afloat, AND higher congressional budgets! Generally speaking we don’t need new companies; we need companies and politicians willing to make decisions, not half ass ones!

When Plastech file for Chapter 11, it will have to devise a plan (usually 5 years) and it will have to emerge from it. They don’t stay bankrupt forever. If they fail, the company folds. This is the last resort, not some tactic to screw Chrysler as some of you think. Chrysler is unfortunately caught in between through no fault of its own. Life’s a biotch!

jayjc08, Chapter 11 IS bankruptcy. Plastech is bankrupt whether it is Chapter 11 or 7. Again, you only focus on the supply and product aspect. Bankruptcy may have nothing to do with “cutting edge” product. Plastech may be profitable with huge amount of account receivables, but it may not have the cash to meet short term obligations and its suppliers are threatening to stop giving them raw materials if they don’t pay within a week. This happens more often than you think, especially to start-up companies. Chapter 11 is a way to keep the factory open. This has nothing to do with Chrysler at all. And what’s with those BS about rights that has nothing to do with bankruptcy? Bankruptcy is not a right, but a privilege. If you do some fraudulent stuff to defraud the court in filing, they can just dismiss your case. Thus it is NOT a right at all.

“I understand what your saying, but Plastech would go bankrupt without Chrysler’s contract”.

Which is total bull****.

The way I view it, if they can’t supply products that are cutting edge, or atleast reasonable then they shouldn’t be kept afloat because they “have the right to be a company”. Lots of the USA has become like that, with homosexuals, with companies, with criminals, with bankruptcy, with… Hell, I don’t know the difference between a bankrupt company any more!

This is why the USA is going to collapse…we’re doing it to ourselves with our idiotic legal systems.

But you know why they filed Chapter 11? Because, otherwise Chrysler would have been able to remove it’s machinery earlier this month, and this has prevented them from doing so. I would be furious as Nardelli.

Sharpie- Chrysler owns the tooling. Aside from that, Chrysler is the smallest of 4 companies using plastech.

Ricardohead- Chrysler owns the tooling. They can’t take it because of their bankruptcy policy.

Since, however, the vendor is in Chapter 11, the all assets of the vendor (including the tooling) are very likely frozen pending an appraisal and a public auction or private bidding, and as such Chrysler can kiss it goodbye because that could take a while.

Well supply issues like these definitely aren’t helping Chrysler. Even if the dealers’ inventory is in excess, even in halting production there’s still overhead costs and employee salaries that have to be accounted for.

Plastech filed for Chapter 11 Bankruptcy earlier this month and stopped supplying Chrysler with product

Simple little mistake, but it happens very often…

Mattk… You wanna work for LLN? Just a joke, but couldn’t help but notice you do deal in journalism.

The last few articles have had terrible spelling, it’s gotten to the point where I can’t understand half of their articles… Please LLN, proof read, get a new writer, do something to help this issue.