Fiat and Chrysler a done deal

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 Originally Posted By: GROUCHO MARX
 Originally Posted By: addyguy
Wonder if it will work? Would be neat to see the little Fiat 500 over here, though!
Yeah, it would employ a whole generation of new mechanics.
True....but will they all be named Tony...
 

addyguy

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 Originally Posted By: Junior
If you're not terrified, you're not paying attention.
I'm assumng you're referring the way the court railroaded secuered debt holders to get this sale through. Truth is, it is a no-win situation. If the court hadn't done that, Chryco would have been liquidated, and a LOT of jobs would have been lost. A few PO'd money managers, who already have lots of money, vs. an army of angry, broke, unemployed labourers driving up the unemployment roles, possibly driving up the crime rate,....I dunno, i'd be more scared af that!
 
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 Originally Posted By: addyguy
 Originally Posted By: Junior
If you're not terrified, you're not paying attention.
I'm assumng you're referring the way the court railroaded secuered debt holders to get this sale through. Truth is, it is a no-win situation. If the court hadn't done that, Chryco would have been liquidated, and a LOT of jobs would have been lost. A few PO'd money managers, who already have lots of money, vs. an army of angry, broke, unemployed labourers driving up the unemployment roles, possibly driving up the crime rate,....I dunno, i'd be more scared af that!
Not quite. The judge could have put the UAW back in the rear of the line where they belong and told them to take it or leave it. Instead, the bond holders got that treatment. I don't feel too sorry for bankers ever. But remember who those bankers represent in this case. They aren't some evil boogieman hedge fund managers. They represent pension funds along with any number of other individual private investors. This bankruptcy just pulled money right out of those individuals pockets and handed it to the UAW. Par for the course I suppose since if you track all the bailout money that's made it to Detroit, most of it has ended up in UAW coffers. I hope everyone enjoys working until they're 80 to pay for those suffering auto workers who retired at 52.
 
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What scares me more is whether with FIAT in the driver's seat, Chrysler will become just a purveyor of tiny, badly designed, econo-sh'tboxes and cease manufacturing cars like the 300, the Charger and the Challenger altogether...
 

Win

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 Originally Posted By: jsharp
Not quite. The judge could have put the UAW back in the rear of the line where they belong and told them to take it or leave it. Instead, the bond holders got that treatment.
+1. On the bright side, I've always wanted to own an Alfa Romeo.
 
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 Originally Posted By: jsharp
 Originally Posted By: addyguy
 Originally Posted By: Junior
If you're not terrified, you're not paying attention.
I'm assumng you're referring the way the court railroaded secuered debt holders to get this sale through. Truth is, it is a no-win situation. If the court hadn't done that, Chryco would have been liquidated, and a LOT of jobs would have been lost. A few PO'd money managers, who already have lots of money, vs. an army of angry, broke, unemployed labourers driving up the unemployment roles, possibly driving up the crime rate,....I dunno, i'd be more scared af that!
Not quite. The judge could have put the UAW back in the rear of the line where they belong and told them to take it or leave it. Instead, the bond holders got that treatment. I don't feel too sorry for bankers ever. But remember who those bankers represent in this case. They aren't some evil boogieman hedge fund managers. They represent pension funds along with any number of other individual private investors. This bankruptcy just pulled money right out of those individuals pockets and handed it to the UAW. Par for the course I suppose since if you track all the bailout money that's made it to Detroit, most of it has ended up in UAW coffers. I hope everyone enjoys working until they're 80 to pay for those suffering auto workers who retired at 52.
+1 This administrations treatment of organized labor, tax payer money and future plans for both are just plain scary.
 
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 Originally Posted By: addyguy
 Originally Posted By: Junior
If you're not terrified, you're not paying attention.
I'm assumng you're referring the way the court railroaded secuered debt holders to get this sale through. Truth is, it is a no-win situation. If the court hadn't done that, Chryco would have been liquidated, and a LOT of jobs would have been lost. A few PO'd money managers, who already have lots of money, vs. an army of angry, broke, unemployed labourers driving up the unemployment roles, possibly driving up the crime rate,....I dunno, i'd be more scared af that!
If you think Fiat isn't going to cut a lot of jobs you are kidding yourself. As far as the lost jobs, why are 50,000 auto worker jobs more important than the other 4.5 million that have been lost this year?
 

PT1

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 Originally Posted By: jsharp
 Originally Posted By: addyguy
 Originally Posted By: Junior
If you're not terrified, you're not paying attention.
I'm assumng you're referring the way the court railroaded secuered debt holders to get this sale through. Truth is, it is a no-win situation. If the court hadn't done that, Chryco would have been liquidated, and a LOT of jobs would have been lost. A few PO'd money managers, who already have lots of money, vs. an army of angry, broke, unemployed labourers driving up the unemployment roles, possibly driving up the crime rate,....I dunno, i'd be more scared af that!
Not quite. The judge could have put the UAW back in the rear of the line where they belong and told them to take it or leave it. Instead, the bond holders got that treatment. I don't feel too sorry for bankers ever. But remember who those bankers represent in this case. They aren't some evil boogieman hedge fund managers. They represent pension funds along with any number of other individual private investors. This bankruptcy just pulled money right out of those individuals pockets and handed it to the UAW. Par for the course I suppose since if you track all the bailout money that's made it to Detroit, most of it has ended up in UAW coffers. I hope everyone enjoys working until they're 80 to pay for those suffering auto workers who retired at 52.
+1 The whole thing makes me sick.
 
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"This morning's closing represents a proud moment in Chrysler's storied history," said the Treasury Department in a written statement. By TOM KRISHER and KIMBERLY S. JOHNSON, AP Auto Writers The treasury department making these statements about Chrysler is absurd.
 
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 Originally Posted By: Junior
As far as the lost jobs, why are 50,000 auto worker jobs more important than the other 4.5 million that have been lost this year?
The vote, plus 65-75% of the 4.5 million will still vote with them. He leads, they follow.
 
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 Originally Posted By: Johnny
 Originally Posted By: Junior
As far as the lost jobs, why are 50,000 auto worker jobs more important than the other 4.5 million that have been lost this year?
The vote, plus 65-75% of the 4.5 million will still vote with them. He leads, they follow.
So True. I need to be careful what I say so I don't throw out the s word. socia......
 
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 Originally Posted By: Junior
 Originally Posted By: Johnny
 Originally Posted By: Junior
As far as the lost jobs, why are 50,000 auto worker jobs more important than the other 4.5 million that have been lost this year?
The vote, plus 65-75% of the 4.5 million will still vote with them. He leads, they follow.
So True. I need to be careful what I say so I don't throw out the s word. socia......
Or the 7 letter f word...
 
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 Originally Posted By: rshaw125
Chrysler is finished. It will slowly disappear.
Nah. People have been saying that about Chrysler since the mid '70s. It never seems to happen. Iacocca sent it to the fat farm and put plenty of lipstick on it. The Germans couldn't kill it. Nardelli couldn't kill it. So now it's the Italian's turn. Chrysler is now like Cher. It will always hang around in some form or guise, no matter how ugly the years make it or who it's been with.
 
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As long as the Fed's can keep pouring tax money into their car companies, it will keep going. They are already wanting to give away $4500 of other people's money to get people to buy Government Motors' cars. They can simply change the economic landscape to make it work.
 
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