Well for what its worth, Chrysler bankrupcy seems to have hit a snag. The disenfranchised dealers are making abig stink. Indiana state pension is making a big stink.

When the CEO was asked about the cost saving by scuttling nearly 800? dealers, the CEO had no clue. A very bad answer.

What's really amazing to me is that Toyota has managed to squirrel away over $110 billion into the bank. I knew they were scrooge and I really hate their kind of corporate culture but you do have to wonder how Toyota manages to have a big fat piggy bank while GM is in debt to the tune of $60billion.

And why do GM, FORD and Chrysler insists on building the dinasours? The big three had to be dragged, kicking and screaming to install collapsable steering column, safety glass for windows, seat belts, airbags, catalytic converter... Other manufacturers just said ok.

And frankly, the design shop for the big three have no vision of design. Look at the Itallians, Germans, Scandanvians, English and even Japanese. Japanese perspective of the world is so different than the western culture so you would think that their design would not appeal to us ... but the Japanese have set up a design house here in California and staffed by Californians who have the california vision. Why doesn't the big three follow suit.

As for the dealers who are getting the raw end of the deal, I really do feel bad for them. And at the same time, don't you think they should have been paying attention to their sole source, Chyrsler and its financial status and thought about an exit strategy...

In bankrupcy, interested parties get the short end of the stick. Dealers are getting it big time. Very sad.

I'm thinking of my own exit strategy, I've taken nearly 20% pay cut. And will be expecting to see more lay offs. I also see mandatory shutdown days without pay over the July 4 holiday (2 weeks), labor day (2 weeks), Thanksgiving (2 weeks) and maybe all of december. Our balance sheet is looking very weak. Our bookings and potential bookings are just not there. Our book to bill ratio is well under 1.0 (company is shrinking/losing business). Things are not happening. I have no program to manage I have become a burden to the company not an asset. At my age this is very bad. Rather than waiting, I'm doing something about it.

  1. my mortgate has less than 9 years left. But I may refi for 30 years to reduce monthly mortgage in case I lose my job. Reduce my monthly burn-rate reduce monthly burn rate in excess $1500/month.
  2. not taking any vacation. Accrue as much as possible so that it gives me additional money when I do lose my job.
  3. maintain my zero balance on credit card. I have a COSTCO AMEX, and have Visa as a backup.
  4. have stocked up so we have maybe 6 month supply of food ... If I lose my job, we can live off our stored supply for that long without having to go shopping. just minimal shopping.
  5. digging up my business contacts and renewing them. But then again we are all in the same boat.
  6. thinking of alternate path. Rent my house out and move to a cheaper locale. positive cash flow on my house.
  7. or sell my house and take early retirement.


yes bit worried.