Day 1 (again)

I have lost track of how many Day Ones we have gone through here at Chrysler since I started working for the company. Of course yesterday's big news was the company filing for bankruptcy and our announcement of the Fiat deal. Given the alternatives, this may end up a positive for the company but it will take some time.

In the interim there is much uncertainty about what will happen, especially since we are effectively shutting down the company for the next few months while the bankruptcy gets sorted out. Plants will be down and union members given most of the salary while off but no word yet on what the rest of us will be doing.

The plan for plant closings is more aggressive than originally announced. I was sad, but not surprised, to read that the plant that I started at will be closing next year, Twinsburg Stamping. Closing the plant had often been rumored and now that most of the assembly plants they supply will also be shuttered there was no reason to really keep it running.

Our shutdown plus the scheduled shutdown of some GM plants will have a big impact on the local economy over the next few months. GM will be the next company under the gun to complete their reorganization plan to see if they will receive additional funding. I think they have a more difficult task.

For now all I can do is wait and see how this will effect me personally and hope for the best. In addition to immediate concerns about continued employment there is also a concern about what might change to severance and retirement plans as well as other benefits. With the company in bankruptcy everything is open to change.

The upside is I may have more time to ride. But no money to race. Stay tuned.