Chrysler for Sale--Need Co-Signer

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I read in todays Detroit News, this article on CEO's comments on the future of the Chrysler Division.
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Lee Iacocca, where are you?
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Your comments and thoughts on the Big Picture, please.
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http://www.detnews.com/apps/pbcs.dll/article?AID=/20070214/UPDATE/702140438
 
How about Hyundai/KIA management with Chinese ownership?
(Now I've forgotten why MB wanted them in the first place.)
 
I ask this. Who can you think of that has that kind of money that needs Chrysler? I don't think Dailmer is really interested in bailing out yet but what do I know? Is John Delorian still alive?
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Essentially there's been a mass exodus of US $ to other nations in the brokering of US auto parts outsourced to other nations. This has been no secret and any economist that has the nerve to call himself one surely should have the moxie to figure out that the mass consumption curve of the US auto industry was going to run out of steam when you keep shoveling out REAL $$ in the scam/managed/brokered/racket that they've had going. This is no surprise if you've watch any number of other larger companies. Note how it's all happening at once. Dana, Delphi, GM, Ford, Chrysler, Bethlehem Steel, ..etc..etc..etc. Most of these outfits didn't die any slow torturous decline. They set a determined course and plowed straight into an iceberg and are NOW mortally wounded. There's nothing accidental about it.

I want to hear the whining when the other shoe drops.

I'll just whine about not being a millionaire ..for I surely see how the fix is in.
 
BMW is pretty tough competition in Europe for MB. BMW is a very efficient, well run company. If MB is to be competitive in the future they may have to sell Chrysler. There must not have been enough good German managers to go around and they just ran out. To many people worry that Chrysler and Jeep quality is rubbing off on MB and they could be right. Who wants to buy a MB sedan that runs as well as a Jeep? Shootgun weddings don't always work out.
 
Certain US industries have, relative to Europe and the world in general, done very well over a decade. E.g., computers technology, etc. We have moved to a service industry remember. But the auto industry is a long-term failure. Even foreign companies, forced to build plants in the US, show better quality, innovation, and price advantage. What a disgrace. The newest Chysler plan - if you read it - shows a bunch of existing problems (yes, like GM, Ford) that should have been addressed decades ago.
 
ABC News on the XM was talking about GM buying Chrysler.

WHY? Doesn't GM have enough problems of their own right now?

Or, could it be that they are thinking of buying Chrysler SO NO ONE ELSE CAN? Hmmmmmmm...?
 
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ABC News on the XM was talking about GM buying Chrysler.

WHY? Doesn't GM have enough problems of their own right now?

Or, could it be that they are thinking of buying Chrysler SO NO ONE ELSE CAN? Hmmmmmmm...?




If Chrysler goes belly up ..it probably allows the reorganization (broken contracts ..golden parachutes - putting some % of the pension burden on the (cough-cough) government = aka US).

Well, whatever happens it will be configured so that it will appear to be the "best worst option" and we'll get to, somehow, pickup a good bit of the tab (keep an eye on those golden parachutes and other stuff).
 
"putting some % of the pension burden on the (cough-cough) government = aka US)."

Exactly right. Pension Benefit Guaranty Corporation, an agency established by the US Government (circa ERISA of 1974), already underfunded itself, would pay, I'm guessing, 80% give or take, of the unpaid liabilities for pensions.
 
Yes, first they disallowed corporations from hiding profits in overfunded pension funds ..treating them as assets. Then they allowed them minimum funding (I don't know- but it was probably something that generated TODAY'S liability in revenue plus some growth factor) ..then they allow them to default.

Sounds like a plan to me. It worked flawlessly. Liberated all that cash for yesterday's economies and bumped the liabilities to another time and other's pockets.
 
Gary,
coming from a country that had a voluntary pension scheme, then had the Govt take over that scheme and offer pensions for all (the people who paid into the previous pension scheme lost their money to the pool), then had compulsory retirement savings set at 9% through superannuation schemes, I'm worried.

Huge amounts of money that HAVE to be invested.

My super fund could buy part of Chrysler.

I'd maybe be OK with that if they brought out a retro E49 Charger
 
"coming from a country that had a voluntary pension scheme, then had the Govt take over that scheme and offer pensions for all (the people who paid into the previous pension scheme lost their money to the pool)"

What country? Something like this happened in Albania.
 
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Gary,
coming from a country that had a voluntary pension scheme, then had the Govt take over that scheme and offer pensions for all (the people who paid into the previous pension scheme lost their money to the pool), then had compulsory retirement savings set at 9% through superannuation schemes, I'm worried.

Huge amounts of money that HAVE to be invested.

My super fund could buy part of Chrysler.

I'd maybe be OK with that if they brought out a retro E49 Charger




The crime is that we had the money to take care of this stuff at one time. Now the entire faux security economy is a hollow shell ..when we can't afford to rebuild our infrastructure ..fund our public education ..afford medicare costs ..increases in social security obligations ..and have a bottomless service based economy to fund it all.

What a crock of sucker punching thieving ....................
 
But Gary, what's the problem? As long as there are credit cards...

Charge it up! LIVE IT UP! It's the NEW american way!
 
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"coming from a country that had a voluntary pension scheme, then had the Govt take over that scheme and offer pensions for all (the people who paid into the previous pension scheme lost their money to the pool)"

What country? Something like this happened in Albania.




Not quite...Australia.

About 15 years ago, they decided to wean us off social security with a compulsory 9% into superannuation (the generation who created it were pretty well on either it, or the unfunded retirement programmes, and decided that my generation should be fully self funded...oh, and we've moved the access age from 55 to 60)

Super funds now hold 9 to 15% of the entire wages bill for the country for the last decade ("voluntary" 6% on top of the 9 is the norm).

They'll have to start "investing" on flies climbing up walls soon.
 
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