well its happened, Chrysler is about to declare bankruptcy

[x-guy]

http://ca.news.yahoo.com/s/reuters/090423/business/cbusiness_us_chrysler_treasury

I think it was only a matter of time, better to get it over with now, restructure, and get on with things, but wow, all this talk about it, all the build up, but its still shocking to actually hear.

 

[ArcticBoy]

So any future bailouts will go to Fiat??? After re-structure.

 

[Ollie]

Kiss your 13 billion goodbye.

 

[x-guy]

Yeah I kinda wonder about that too, the public could get royally screwed here since Chryslers suppliers who are owed alot of money would have first dibs on assets, leaving the goverment with nothing, should be interesting to say the least.

What happens to chrysler warranties in Canada? will the Canadian goverment cover them?

 

[bigfoot]

Kiss your 13 billion goodbye.

At least obama won't own it. hopefully.

 

[bigfoot]

Yeah I kinda wonder about that too, the public could get royally screwed here since Chryslers suppliers who are owed alot of money would have first dibs on assets, leaving the goverment with nothing, should be interesting to say the least.

What happens to chrysler warranties in Canada? will the Canadian goverment cover them?

I think fiat wants them to go into bankruptcy to break the union contracts, then pick them up for much lower operating costs. I don't hink they will be liquidated when they have an interested buyer.

 

[FriscoProx]

There's alot of companies in the supply chain that are on the verge of going under. I think this will be a test for the big one; GM. If this goes over moderately well than GM goes BK over the 9 week shutdown. If it goes bad, GM get's a bunch more Gov't money.

Either way I don't think the economy's strong enough to handle this. It's also the nail in the AIG coffin because most of the soon to be defaulted bonds are insured.

 

[hilinerider]

if gm and chrysler go under and get out of the union contracts they will thrive, but only if they restructure their spending and upper management

 

[MPS]

they should have went under a long time ago....glad one of the auto makers finally is!

 

[dooadew]

they should have went under a long time ago....glad one of the auto makers finally is!

everyone talks about the ones (gm & chrysler) that cant survive. i wish the press would start talking up the one company that actually can run itsself without the govt. bailout money (ford). why doesnt ford get the recognition it deserves?

 

[MPS]

everyone talks about the ones (gm & chrysler) that cant survive. i wish the press would start talking up the one company that actually can run itsself without the govt. bailout money (ford). why doesnt ford get the recognition it deserves?

good point there! agreed! ....and I will tell you why...the libby media, they don't want to report that it can be done the old fashioned way....that goes against the way the messiah wants it done

 

[Wade]

Yha, but Ford's gonna be the only company with high labor costs left.

Chrysler will dump all their pension mess on the public, pension insurance corp. Those guys will be cut in half over night, and the tax payer will pick up the tab.

There's a big rude awakening coming for some union lifers.

 

[dan8485]

everyone talks about the ones (gm & chrysler) that cant survive. i wish the press would start talking up the one company that actually can run itsself without the govt. bailout money (ford). why doesnt ford get the recognition it deserves?

This stuff pisses me off so bad!!!! The media makes stuff out to sound so bad and that our entire world is falling apart. I think half the reason we are in so much trouble is because of the media. They have the typical American citizen so damn scared they are affraid to wake up everyday.

Perfect example here was when Best Buy here in MN released their numbers for the year and the media jumped all over the fact that the profits were down 75% for the year. They never mentioned the fact that they were still 25% profitable,and for a company that size I would have to say 25% was pretty good. Secondly they never mentioned the fact that the biggest competitor they have was going out of buisness and selling the same products they were in most of the same locations for half price!!!!! Best Buy also was forced to let some employees go 200 I think was the number. Media was all over that and how bad they were for doing it and all about how these people lost the job that they had. About a week later they hired back 160 of the employees to different positions and you never hear a damn word about that ****!!!!!!

JM2

DW

 

[rocketron]

everyone talks about the ones (gm & chrysler) that cant survive. i wish the press would start talking up the one company that actually can run itsself without the govt. bailout money (ford). why doesnt ford get the recognition it deserves?

The press can't be spreading stories about companies that can't get by without a handout!