So whats the deal with Chrysler now??
- Thread starter Johnnny
- Start date
Looks like Chrysler will be filing for bankruptcy protection tomorrow (Friday). Fiat will end up with a chunk, bondholders with a little bit, gov't with some, union with some.
Apparently the Canadian operations will mostly be kept as part of what emerges from bankruptcy proceedings.
Apparently the Canadian operations will mostly be kept as part of what emerges from bankruptcy proceedings.
This is what should have happened a long time ago. I think US government gave them some money last year, I said at that time that the best thing Chrysler (and GM) can do is declare bankruptcy. Obama is right on spot with this one.
Now Chrysler will restructure and come out smaller, meaner and stronger than before. This is the free enterprise solution to the problem, and is much better than government bailing out the losing companies.
Now Chrysler will restructure and come out smaller, meaner and stronger than before. This is the free enterprise solution to the problem, and is much better than government bailing out the losing companies.
Unfortunately, this is another example of governments throwing good money after bad. I don't want to own part of this company because I was never impressed with their product. Now that the great Irishman, O'Bama, is in charge I'm even more sure I won't buy the product.
One of my favourite radio programs is "Michael Harris Live" on CFRA AM from 1 to 3 in the PM.
About a month ago, he predicted that, after receiving a ship load of cash from the US and Cdn. govts., both GM and Christer would go bankrupt. My thoughts were: why wait ?? 8O Ohhhhhhhh, the money...........righttttttttt:angry3:
Looks like Christer is the first to jump.
My thoughts and regrets are ONLY with the workers and pensioners who will no doubt get royally screwed.
About a month ago, he predicted that, after receiving a ship load of cash from the US and Cdn. govts., both GM and Christer would go bankrupt. My thoughts were: why wait ?? 8O Ohhhhhhhh, the money...........righttttttttt:angry3:
Looks like Christer is the first to jump.
My thoughts and regrets are ONLY with the workers and pensioners who will no doubt get royally screwed.
Chryslers minivan plant in Windsor also makes the new Volkswagon van - We will likely see a lot more plants producing multi-brand formats. If the industry is smart they will look at sharing engines, brake components, suspension and many other parts - This is necessary to keep parts makers working at sufficient volumes to be efficient. One other thing that the 3 Amigos (USA,Canada,Mexico) should be doing is announcing a 10 year moritorium on new assembly plants in their countries. If a new vehicle line is needed put it in an existing or shuttered factory. This oversupply that the automakers are blaming for their woes is partly due to states and provinces scrambling over each other for assembly plants. Now we are paying twice - Once for the incentives to build and now for the costs to shut them down.