Thursday, June 11, 2009

Chrysler/Fiat Sale

Okay, after hearing the Supreme Court had cleared the way for Chrysler to proceed with the Chrysler bankruptcy, I contacted Congressman Ryan's office to see if the Kenosha Engine Plant had gotten lucky.

I received a call back and ummm, not such luck yet.

Here is where the Kenosha Chrysler Engine plant stands right now:

May 1st- Chrysler filed for bankruptcy. At the time Chrysler split themselves into two seperate asset groups. One asset group was considered to be full of good assets. This group would proceed forward when Chysler comes out of bankruptcy. The other group was full of bad assets. This group of people and mfg. plants would not proceed forward. They would be sold off with the plants being closed and many of the employees losing their jobs permanently.

The Kenosha Engine Plant was listed with the bad assets group. Meaning that the Chrysler plant in Kenosha would permantly close if we could not get our name off of the bad asset list.

Over the weeks since filing for bankruptcy, Congressman Ryan's and Senator Feingold's offices have been attempting to get Kenosha moved onto the good list.

After Tuesday tranfer of assets to Fiat, I was anxious to find out if Kenosha made it onto the good list.

We did not.

After speaking with Congressman Ryan's office today, all hope is not lost. As mentioned in the Kenosha News today, there is still a slim window of opportunity. Fiat has until July 31st to decide whether or not they want to pull Kenosha out of the fire.

As you can see, it still possible for Kenosha to continue.

Thanks to Congressman Ryan's office for answering my questions.

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