Ominous news on the auto front: Chrysler will idle all its North American plants for at least 30 days beginning Friday, a move meant to realign the company's supply with plummeting demand, the Detroit News reports. Ford, meanwhile, will close 10 assembly plants for an extra week in January, the AP notes. Chrysler suffered a 28% sales slump this year, the worst among ailing automakers.
The company is in negotiations with the White House for emergency aid and has warned it may not be able to pay its bills after Jan. 1. Ford's announcement today is troubling but less dire. Because of slumping sales, the company is extending its normal two-week shutdown to three weeks at all but a handful of plants.