For Chrysler's Sake!

CBS reports: Chrysler to shut assembly lines for at least a month.

Chrysler LLC, awaiting word on a federal bailout, said Wednesday it will idle all of its 30 plants for at least a month in an effort to bring output closer in line with plunging demand for new cars and trucks.

The privately held carmaker said it will shut its assembly lines at the end of Friday's shift and keep them closed through at least Jan. 19, extending a holiday shutdown that was already put in place.

Separately, Ford Motor Co. announced that it will shut down most of its North American assembly plants for an extra week in January, according to the Associated Press.

Automakers typically close their factories for a couple of weeks over the two weeks during holidays and often, as in Ford's case, target specific plants for even longer idle periods to keep a lid on inventory during times of slack demand. Yet Chrysler's move to idle its entire operation for at least a month reflects just how dire the situation is in Detroit.

Happy holidays!