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Chrysler bancrupt next month?

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Rends

· POTM June 2009
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#2 ·
Some internet polls I've seen show that 60-70% of respondents are against a bailout. In the mean time the three corporate auto chiefs flew in their private jets to Washington to plead their case, and how hard they are working to contain costs by closing factories and laying people off.
 
#3 ·
ray said:
Some internet polls I've seen show that 60-70% of respondents are against a bailout. In the mean time the three corporate auto chiefs flew in their private jets to Washington to plead their case, and how hard they are working to contain costs by closing factories and laying people off.
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It would make a better statement if they drove........CARS!

No. I don't think we will be seeing any kind of bailout for anyone until we see have the first 400 billion starts to show some return. Tax payers will be angry if they don't see any results and the money is all gone. I don't know how much they consult with Obama, or if Bush is just running the whole show on using the 700 billion. The more I see the more I think the auto manufaturers need to go through a bankruptcy to rid themselves of all the bad deals they made with unions when times were good. No mater how you look at it, Chrysler will come out on top. Without the burden of looking out for traditional share holder interests, Cerberus can weather the economic down turn and end up as possibly America's one and only auto manufacturer.

Personally, I think Nardelli is bluffing. Sure they have cash problems, but they are just using Chrysler's dismal looking books to get money out of the US government in the form of low interest long term loans. Cerberus, on the other hand, will continue to fund Chrysler if the government doesn't. A position neither Ford not GM have to fall back on. I think Chrysler is spending this slump time re-thinking and re-tooling so when times turn they will be positioned for a roaring comeback.

Keep an eye on my predictions. Let's see if I'm right or wrong in a few months.
 
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#4 ·
Congress blasted the big three execs for flying in THREE separate private corporate jets to DC. Of course I wonder how many jets the execs of AIG are flying around in, but the motor guys sure didn't help their case. What were they thinking??

Obama has said he would like to extend help to them, but only if they change their ways and concentrate on more efficient vehicles. I think that's fair, but by the time he is in the saddle, they may already be down the toilet.
 
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#5 ·
I agree that Chrysler does have the advantage over Ford and GM due to being backed by Cerberus. Currently, Cerberus owns 81% of Chrysler, and Daimler still retains 19% ownership.
Ford and GM may be in serious trouble, but I think Chrysler will make it even without bailout money.
 
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#6 ·
IdahoPatriot21 said:
I agree that Chrysler does have the advantage over Ford and GM due to being backed by Cerberus. Currently, Cerberus owns 81% of Chrysler, and Daimler still retains 19% ownership.
Ford and GM may be in serious trouble, but I think Chrysler will make it even without bailout money.
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That may be true, though Ford and GM have lots of cool European vehicles they can ship over in a pinch. Not sure if that makes a difference.
 
#8 ·
Wheezy said:
If only Jeep could be kept and they could scrap all else that Dodge and Chrysler have manufactured...
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I 100% disagree with this as a Mopar lover. They need to kill some models ad retool others. We have already seen some of this in the death of the Pacifica, Magnum, PT Convertible after this year and the Commander after next. THe PT and most likely the Nitro are the next on the chopping block. They should also kill the Sebring Sedan, switch the Sebring convert to the Challengers Platform and get the Pheonix engines out there ASAP. Also, give the Avenger that much needed makeover (unfortunatly still a couple years off. All they really need to add is a very fuel efficient small car to the Dodge lineup, and get those plug--in Hybrids on the road. If anybody needs to keill some makes off, it's GM. GMC truck, Pontiac, and Buick are all pretty well redundant and frankly the only Pontiacs worth a damned would be better sellers and fit MUCH better into the Chevy fold (namely Solstice, G8, and G8 ST). Ford;s Mercury is damned redundant too, they have SNOTHING that sets them apart from Ford, hell though, Even Lincolns aren't much more than gussied up FWD Fords. I mean seriously, Chrysler needs 2-3 luxury vehicles ((RWD Hardtop convert, 300C, and s mall SUV to challenger the wave of small high end SUVs would be fine, Dodge needs the fullsize truck, the Dakota needs to be replaced with a smaller more fuel efficient entry, the Journey for their SUV, A better midsize sedan, the Charger as Fullsize, the Challenger as a halo Vehicle, and at least 2 fuel efficient cars (Caliber and the upcoming hornet will work), Jeep could stay Patriot, Wrangler/Wrangler unlimited, and Grand Cherokee (AMY be room for a Liberty, but I am not convinced with the Patriot and Wrangler unlimited out there). Keep the amount of models managable and DON'T OVERLAP!!!!
 
#9 ·
jepstr67 said:
It would make a better statement if they drove........CARS!...
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Make that CARS from their own factories!
Not top of the line but in one of their "meat and potato" vehicles.

I would have some respect if they each drove a Patriot up there and said they were personally taking an income (and bonus) freeze until their company was on the mend.

Right now, they are still viewed as fat cats and out of touch. At least the stunt I proposed would have made them seem like they were trying and maybe compassionate for the common worker/family.
 
#10 ·
pdxbubba said:

Make that CARS from their own factories!
Not top of the line but in one of their "meat and potato" vehicles.

I would have some respect if they each drove a Patriot up there and said they were personally taking an income (and bonus) freeze until their company was on the mend.

Right now, they are still viewed as fat cats and out of touch. At least the stunt I proposed would have made them seem like they were trying and maybe compassionate for the common worker/family.
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I 100% agree, Chrysler could have been Repped by a PAtriot or Caliber, GM by a Cobalt or Malibu, and Ford by a Focus or Fusion. Would have made a HELL of statement, but they all seem to want to show how short sighted they are.
 
#11 ·
johnda said:
Congress blasted the big three execs for flying in THREE separate private corporate jets to DC. Of course I wonder how many jets the execs of AIG are flying around in, but the motor guys sure didn't help their case. What were they thinking??

Obama has said he would like to extend help to them, but only if they change their ways and concentrate on more efficient vehicles. I think that's fair, but by the time he is in the saddle, they may already be down the toilet.
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or how many private jets senators fly on
 
#12 ·
Keep in mind that a CEO's time is very valuable. Flying commercial would have taken a few hours in the air, plus a couple hours waiting in the terminal before leaving. During that time, they are quite limited as to what kind of work they can perform. Essentially, an entire day would be wasted. Private or charter jets conform to YOUR schedule and provide for more flexibility in what you can do while in the air. While I agree that it looks bad to fly there on private jets, at the same time there are real reasons for it- the same reasons they often use chauffeurs; their time is better spent working than driving.

For Congress to chide anybody else for waste is simply outrageous. Yes, the auto execs probably need replacement; they really have run these companies into the ground (with the UAW aiding and abetting), but Congress isn't exactly any better at their own jobs. These ARE the idiots who were kicking around steroids in major league baseball instead of concerning themselves with the idiotic practices as Fannie Mae and Freddie Mac; I notice nobody mentioned that in the run-up to the election.
 
#13 ·
What would happen to service, repair parts and warranty is those company go bankrupt???

During those hard time of restructuration, layoffs and shortage of money, do you guys have any future concerns on quality and service?
 
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#14 ·
Service and parts don't concern me, but we can bet our warranties would be gone. All the same, if they can't sell the various lines, I still think the best thing is to let them go under. Other companies will pick up the pieces. I hear the Chinese have lots of US cash, they should buy them out.
 
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