Houston partner Billy Donley was quoted in December 18 article on Forbes.com, "Chrysler Isn't Idle While Waiting For Jump Start."
According to the article, despite U.S. automakers' warnings that they'll need help to operate under the bleak economic environment, the government has let car companies sweat as it takes its time in reaching a verdict. Chrysler, the weakest of the three biggest U.S. automakers, said it would close all of its factories for a month, idling 46,000 workers, and warned dealers it may temporarily freeze financing for them.
Chrysler dealers may be the next facing massive job losses if Chrysler pulls the financing that helps them put cars on the lot—unless they can find other sources, said Donley. He said manufacturers don't have extra money to lend right now because of market conditions and that strong dealers would survive while weaker ones would likely have to fold.