Posted on July 31st, 2009
Wisconsin unemployment took another hit Thursday when Governor Jim Doyle said Fiat is unlikely to buy the Chrysler car-engine plant in Kenosha.
When Fiat bought Chrysler in June, it had the option to buy the Kenosha engine factory by July 31. Without the purchase, the facility is now scheduled to close in October of 2010, which will result in the loss of 800 Wisconsin jobs.
Doyle said Fiat will consider Kenosha for future manufacturing opportunities.
If you or anyone you know is in the bankruptcy process, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, LLC at 414-377-0518.
Posted on July 31st, 2009
The U.S. Senate introduced legislation Thursday that would restructure the pensions of more than 44 million Americans. Senator Herb Kohl, a Wisconsin Democrat, said The Pension Benefit Guaranty Corporation needs to be overhauled to protect employees in the nation’s automobile and manufacturing companies.
The agency was created in 1974 to back the pension programs of bankrupt companies. The agency, however, reported in May a deficit of $33.5 billion. On top of that, the agency’s former director, Charles E.F. Millard, was criticized for having improper communications with eight of 16 Wall Street firms that bid to manage part of the agency’s debt.
If you or anyone you know is considering filing for bankruptcy, contact the Milwaukee bankruptcy lawyers of DeLadurantey Law Office, LLC at 414-377-0518.
