1 Chrysler declares bankruptcy............finally. on Thu Apr 30, 2009 2:59 pm
GM shoulda been allowed to do the same. Now, it appears GMAC (profitable) will be the new finance source for new Chrysler cars, if Chrysler Financial isn't sound financially.
2 Re: Chrysler declares bankruptcy............finally. on Sat May 02, 2009 12:43 pm
Pelosi's plan: (And I'm not a conspiracy nut) It was clear last December that Chrysler was sinking outta sight. The gov pumped in 4 billion. Why? The unions cried and bleated about 10's of thousands losing their jobs. A bankruptcy court would have kept them open,re-negotiated the union contracts,laid off maybe 20%,close some dealerships, paid 30 cents on the dollar to creditors,and forced Chrysler to sell of some assets. But no. That 4 billion amounted to $75,000 spent for every Chrysler employee to keep their jobs,but they didn't get a cent of it. The taxpayer got NOTHING. The new plan? The creditors and investors (pension funds,etc.) will get 5, not 30,cents on the dollar. The unions will get 55% of Chrysler stock. Employees will STILL be layed off. Some dealerships will STILL close. Chrysler will STILL sell off Viper and other assets. Fiat will STILL partner up with Chrysler and replace all Chrysler small car products with Fiats. In case ya'll didn't see the big difference, the unions will own and operate a major industry. Pelosi's plan. The British model that failed so miserably. Did ya'll know that Rolls Royce was declared to be a "business that could not be allowed to fail" and operated at a loss for over 50 years? It never made a pence until BMW bought it 2 years ago. We will now be fully invested in Chrysler and I assure you,it will be found to be unacceptible to let Chrysler fail and the taxpayer will feed that whale for decades.
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