William Stagg threw up his arms a little before noon last Thursday and walked slowly to his car in United Auto Workers Local 685’s parking lot.

A slight rain didn't concern him. The Chrystler retiree was more worried about what would happen to his pension and retirement benefits.

“I came here to find out, but no one is telling me nothing,” said Stagg, who retired in 2001 after 35 years at Chrysler.

“I want to know about my pension. Will I be able to keep it? That’s all I am concerned about. Will I keep my insurance? This makes me feel apprehensive.”

Such questions permeate the conversation in Kokomo since the nation's third-largest automaker filed for bankruptcy last Thursday. Kokomo is home to four Chrysler plants and an estimated 4,600 hourly Chrysler employees.

As of today, the automaker has idled most of its factories, pending the outcome of a bankruptcy expected to last two months. Chrysler is negotiating to sell assets to a partnership of Italian car maker Fiat and the United Auto Workers. The U.S. and Canadian governments have pledged to underwrite the deal with $4.5 billion in loans.

As part of the deal, Chrysler plans to close eight factories and sell machinery to help pay creditors. The value is expected to be as much as $2.3 billion.

None of Kokomo's plants are on the closure list. But UAW Local 685 president Rich Boruff said they will feel the impact.