Chrysler succumbs to bankruptcy

[Justyntym]

Good thing we gave the auto companies billions a couple months ago...
Course they're going to get an additional 8 billion from the govt' AFTER
the bankruptcy.

And how exactly did the UAW aquire 55% of Chrysler and why ???



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[Mr Bogus]

said this was going to happen... the UAW will own the company when the dust settles... they will then have to drop the hammer on their own toe... the union leaders are going to turn out a lot worse than any of the union members ever thought... now lets see you not join the "party" ooops union..

 

[Dan]

Guess I shouldn't have bought that new 2500 Diesel 4x4 on Monday.

 

[RYC1966]

I will probably lose my job over this...I work for a supplier to the auto industry.
Now I'll have my own inv reduction sale...

 

[ibified]

ask obama to bail you out!

 

[Justyntym]

I'm just really scratching my head over this one...why the heck did they
GIVE the company to the union?

It appears the only way to move competitively forward is to ditch the union
and benifits and PENSIONS...now, this will never happen for chrysler and
business as "failing usual" will be the norm, (until we can bail them out yet again)
and WE PAID FOR THIS
And...and...we are going to give them more money on top of that to boot.

WTF is going on....?

 

[Mr Bogus]

I'm just really scratching my head over this one...why the heck did they
GIVE the company to the union?

It appears the only way to move competitively forward is to ditch the union
and benifits and PENSIONS...now, this will never happen for chrysler and
business as "failing usual" will be the norm, (until we can bail them out yet again)
and WE PAID FOR THIS
And...and...we are going to give them more money on top of that to boot.

WTF is going on....?

this is exactly what the right was complaining about... going to dump billions into a failed business model... The union will now have to concede to the issues at hand.. they are going to become the "heavy" that the workers hate for massive cuts in benefits etc... This is ultimately the "union" taking control in a hostile take over of sorts.. Only the union wont suffer, its members will.. I personally will not buy a car from a company owned by the "party" such as it is.. At least the Koreans and Chinese admit to socialist control..

what bites is the bond holders are going to take a bath.. they owned 55% of the company and now the unions are taking over controlling percentage with only a 10% investment.. what a major coup this has been..

 

[Justyntym]

and the thing is...the billions and billions came from us.

 

[thesnake]

Guess I shouldn't have bought that new 2500 Diesel 4x4 on Monday.

Actually, I'm looking at the same truck and the price is great. Their track record for the diesel tho=not so great

 

[Busa1166]

and...and...we are going to give them more money on top of that to boot.

Wtf is going on....?

??????wtf??????

It's a magic trick.......... more like an illusion........................ How do you make 400 billion dollars disappear without a trace .............................. just keep watching the show isn't over yet it

I am no economic genius... lets call it what it is I am dope, plain simple.. But just just how are the billions they are injecting into failing companies going to help anyone everyone is loosing their jobs their homes a lot have lost even their retirement their credit. Just exactly who the hell are they expecting to buy these new cars How long before they realize they injected the money into the wrong end of the problem

 

[MPH 200]

Glad I work for Lexus.

 

[mrsBusawhipped]

I think part of the deal was they swapped stock for debt.

I heard on the news this morning, the bankruptcy papers filed, Chrysler owes money to 5,000 different companies and they owe $70 MILLION dollars to one supplier. So now their bankruptcy is going to affect not only the autoworkers, but the suppliers who will now have to lay off to compensate for the loss too. It is just a sucky situation all around and the govt should have never given them any money to begin with. What happened to the BILLONS that were handed to them? Were any of their debts paid?

What I would really like to see is the govt step in and help the PEOPLE learn a new trade or place them with another company if their work record warrants it.

 

[werdkat]

I would like to see the government stop interfering. Things seem to always go bad when government gets involved.

 

[werdkat]

Ugh the thing I hate it is the families...I started worrying about the wireless industry when the market started tanking. Thankfully my employer changed their business model back in 1996...scary thinking that the big whigs running companies (and government) are oblivious to things changing and that if you want your company to grow...you have to change the model.

Like with Kia...where the heck did they come from (yes I really do know, just saying)...I now see more Kia and Hyundai (sp??) then any of the big 3.

 

[Tufbusa]

I have been a Chrysler fan forever but will not buy a wiper blade from the union! I should hope they never sell a single vehicle under union control. However, my fear is the Democrats will simply keep injecting big bucks (Your money) into the company/union because they will not loose the UAW support at any cost!

It should be no surprise to anyone that life as we have known it may be gone forever! The president made it very plain what his intentions were before he was elected. ???

 

[mrsBusawhipped]

I really love my PT Cruiser. Was hoping to replace it with another one. No way now. I may have to sweet talk the hubby into a new(er) Mustang!!!

 

[mrsBusawhipped]

I would like to see the government stop interfering. Things seem to always go bad when government gets involved.

Yeah, your right there. They always have to make things so complicated. Of course you got private companies willing to take advantage too. *cough* AIG...........

 

[djsin]

either way Im glad I dont own a chrysler, well I take that back, my muscle car is a 67 plymouth..LOL

 

[pbghost]

well, for the last 11 years I've been loyal to dodge, but no more...can't stand the unions...only thing worse is the azzmunch reading this over my shoulder

 

[shawnski]

i work for honda dealership and our business has been really increased recently regardless of economy, some has to do with chrysler announcement and gm and saturn situation.