The Supreme Court won't block it
http://www.msnbc.msn.com/id/31185911/
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The Supreme Court won't block it
http://www.msnbc.msn.com/id/31185911/
Good News.
From AllPar
http://www.allpar.com/news/index.php...-this-morning/
Chrysler sale to take place this morning
June 10th, 2009 by Bill Cawthon
With the last legal obstacle overcome, Chrysler plans to close the sale of its “good” assets to NewCarCo Acquisition LLC by 9:00 AM Eastern Time today, clearing the way for it to exit bankruptcy.
To finalize the deal, Chrysler first must transfer $2 billion supplied by the Treasury to its creditors. The Supreme Court’s decision rejecting the challenges by the Indiana pension funds and consumer groups came after the deadline for making the necessary wire transfers had passed, requiring the sale to be put off until today.
So, screw the shareholders, screw the bondholders, screw the employees, sell the company to a foreign entity... and everyone is happy?
When the other option is to bury the company and all its jobs? Yeah.
That's the way it's going to stay until the @ssholes in Washington get a clue about foreign trade policy.
Considering how Daimler & Cerberus ran the company into the ground, Fiat can't be much worse. It's that deal or liquidate, take your choice.
Foreign trade...with all the transplants in the south/non-union states, you think the Congressional Delegations from there are going to take action? They'll obstruct anything that's beneficial to the US under the guise of so-called "free trade", despite that few, if any other, countries practice it. The best solution would be Fair Trade policies so our people have more of a level ground to compete on. But don't hold your breath on that one.
Now you have Rash Windbag, AKA Rush Limbaugh, calling for a boycott of GM vehicles. Why? Because he doesn't like Obama. Gotta luv a true American like him. And the GOP wonders why they've lost my wife & her relatives as party faithfuls.
Ok, he's BACKING a boycott of GM. In any case he is a participant.
http://www.detnews.com/article/20090...TO01/906090329
Right-wing radio hosts Hewitt and Limbaugh back GM boycott
Limbaugh never called for a boycott of GM. In fact he bought a GM car just last week.
I say boycott Fiat, I hope they go bankrupt now that the gov't and union own 90% of it.
If the same things happens to Gov't Motors, then I would not support them either.
You are against free trade? Why doesn't Obama tell companies where they can locate and what they can produce, and how much workers should get paid, and what kind of interior you should have in your car.
My head hurts just reading your stuff.
:eek:
Quote:
Originally Posted by 4real
I have a better idea, why don't you go back to Non-Detroit Issues where you can have your anti-Obama tantrums all you want without disturbing all the grownups having an adult discussion here....Quote:
Originally Posted by 4real
... talking about "cutting of your nose to spite your face"...
I'm now boycotting you.Quote:
Originally Posted by 4real
Thanks Lowell, for the ignore feature.
They would all be screwed by a bankruptcy liquidation anyway. Besides, bonds and shares are a gamble, there is no guarantee you will make any money off it.Quote:
Originally Posted by East Detroit
Spot on! The "good stuff" wouldn't even begin to draw high dollar & what's left over would practically be given away. As you stated, investing is practically like gambling; that's not to say I don't feel for the people who lost their money as most of us have been hit in some form or fashion. On the other hand, the most feasible solution has to go forward.Quote:
Originally Posted by Detroitej72
Let's see what Fiat can do.
Apparantly, some of you folks don't know what you are talking about !!
The union guys at these plants, impact the operation about 5%, the rest is ALL executive decision !! and thats , that !! please be sure to read ALL that is part of this Story ! I am a union rat, and WE all do what we are told to do ! the executive branch, Sales, design, engineering, all left to GREEDY dufuses !! they sold the company to diamler FOR GREED !!nothing else !! then told the bullshit story, if it weren't for diamler, there would be no chrysler ![[that was 30 Executives that recived, no less than 22 million dollars to sell off an american instutuion !!and to hell with some 120,000 employees !! those greedy bastards !! READ THE TRUTH ABOUT CHRYSLER !! then those pencil pushers Cerberus, With nardelli's dumb ass come along and think they can amke it work with all that german design JUNK ![[ What an EGO those german assholes have) and think they can make a buck ! The chyrsler corp. needs new designers, and product people that really are talented ! There is three little words that even an old geezer like bob lutz can figure out, That chrysler lost its way. INNOVATION, INNNOVATION, INNOVATION !! need i say more !
the american car companies Gave away the business by NOT competeing withthe foreign car makers Straight away Head to head ! now that the foregin car makers have good product, we will play hell coming back ! Shame on the Greedy executive for pissing away the auto bussiness , shame on the government by NOT doing exactly what the foreign government do, like protectionism, by tarriffifing out side products to protect their own products !!
Shame on all those senators for being blind to the REAL truth and crying" ITS the UNIONS FAULT" WAA fuckin WAA" get over it you hill billy assholes. bring all of your plants up to the Detroit standard and we all will have a better quality of life ! when you pay a Good wage to any industry, you bring commerce to ALL, tax base get established, Small bussines flourishes ! large [[mortgages) flourish ! and on and on it goes. But the sothern idiots known as senators would rather carp and cry about those northern assholes.
Grown up you idiot assholes !!
FLIP... there's enough blame to go around... lick your wounds and get over it... :rolleyes:
Anybody with at least half a brain knows that Germany is not the worlds largest exporter because they "design junk".... :eek:
Now, the next step is to bring back the PLYMOUTH brand... Chrysler should be the upscale marque and Plymouth should be everything else. Retain the Dodge nameplate for trucks only; and Jeep for rugged all-terrain vehicles and SUVs.
Fury,
of course you are right !!
but the executives are still greedy bastards
I think the better option would be to reposition Dodge directly with the likes of Ford, Chevy, Toyota, and Honda. Get rid of the muscular, performance-oriented designs and create smaller, more fuel-efficient cars.
Chrysler desperately needs a decent midsize platform that can at least compete with the Malibu/Fusion/Camry/Accord/Ultima crowd. The Avenger/Sebring just doesn't cut it.
I think the first thing that Chrysler needs to do is bring the Grande Punto/Linea to the U.S. They share a common platform, though the Grande Punto is a subcompact hatchback, while the Linea is a compact sedan.
The Grande Punto would be a great Dodge "Dart"
http://upload.wikimedia.org/wikipedi...randePunto.JPG
While the Linea would make a great replacement for the Dodge Caliber:
http://upload.wikimedia.org/wikipedi...Fiat_Linea.jpg