Chrysler has filled for bankruptcy,which is also known as chapter 11. Chrysler could not keep up with its debtors because of the economic situation. Basically, Chrysler wasn’t selling enough cars. There was more cars (supply) than buyers (demand). In economics, this type of situation means that the prices of goods (cars) would have to fall down. In Chrysler situation, it didn’t really fall down. Instead they were given good deals. Chrysler just want to get the cars off from its hands.
Now that Chrysler filed for Chapter 11, they plan on closing down some properties. They want to suspend some factories from production. They also will close down some factories. This means that their spare parts supplies would either have to look for other cars companies to work for, close down or file for bankruptcy.
Chrysler said they would not close their service line. It would remain open. But if spare parts manufacturers close down, this would increase the delay to get the spare parts. This would not be good for the customer. The government is also planning of back Chrysler with some bail out money.
On CNN international today, a wife is trying to help her husband to get a job. Due to the high unemployment rate in America, she wants her husband to stand out. She used her tax refund to open a website for her husband. On the website, she put her husband credentials. The website is http://www.myhusbandneedsajob.com/
This is a thoughtful act. She is getting her husband known to a lot of people. With the help of CNN, it is certainly a guarantee he would get a job. Just thinking about it, there are more than 5 million looking for job, why would an employer hire him and not hire the others. Their website would make a lot of employers to know more things about him without him meeting them. I am sure that the employer that would hire him is somebody he has heard about.
I don’t know if recession and customer’s service has any thing in common. Maybe there is a fear that people would not tolerate crap from anybody.
According to the department of transportation, the 19 surveyed airlines had an on-time arrival rate of 77 percent, an improvement over its 65.3 percent rate in December and its 72.4 percent rate during January of last year.
Hawaiian Airlines was ranked first among the 19 airlines with an on-time arrival rate of 90.82 percent.
The list of Airline On-Time Arrival Rate Percentages for January 2009
At least the government has seen the lifestyle of executives. President Obama wants to cap the pay of executives whose firms receive government financial rescue funds.
During a press conference on Tuesday, President Obama said, “If the taxpayers are helping you, then you’ve got certain responsibilities to not be living high on the hog”.
An administration official speaking on anonymity said that if a firm wants to pay executives more than the $500,000 cap, they can do that with stock that could not be sold or liquidated until they pay back the government funds.
