REPORT: Obama planning to announce Chrysler bankruptcy tomorrow

[manimsoblack]

Maybe GM and Chrysler should have split the $400 mil dkb.

[Design1stCode2nd]

Oh the government could have not done anything and you'd have a chapter 7 Chrysler and GM currently. It wasn't the US government that ran these companies into the ground.

[fdjizm]

Originally Posted by dkb

This is what they do in third world banana republics. The President/Dictator forces the private investors to relinquish their property through threat of government coercion ... he then "gives" the company to his political allies which in this case are the unions who will now own 55% of the new company. The government retains 25% and Fiat will own the rest.

It's called nationalization of private industries. All under the guise of "helping" out.

I love the way it's all presented. We hate to have to take over ... but we just have to for the good of the people. Yikes ....

He now owns significant shares of major American banks and is preventing them from paying back the loans under the guise of "you're not healthy enough to pay us back" ... he's carving up Chrysler and GM.

My bet is he'll go after the energy sector next.

We should all support Ford at this point.

my ford stock is looking nice, i bought ford at 2.30 it's at 5.80 currently

[DGthe3]

Originally Posted by dkb

no ... what would have happened is they would have gone into bankruptcy, renegotiated their contracts to something tenable ... gotten smaller and leaner and come back out strong.

Obama got involved specifically to take over the company and protect his union allies. Let's not forget they spent $400 million in the last election cycle helping to elect him.

Now they OWN Chrysler! Pretty nice payback for a $400 mil investment.

And who would be the entity that watches over GM and Chrysler durring their bankruptcy? Right, the US Government. And also, given the fact that GM has announced that they will be reducing brands, closing plants, laying off excess workers, and closing dealerships, why do you think that bankrupcy is the only way for them to have "gotten smaller and leaner and come back out strong"

And don't think for a second that GM and Chrysler (or Ford, Honda, BMW, etc) didn't give campaign contributions to Obama or that the UAW didn't do anything to help McCain. Everyone wants to be on the winners side.

[camaro5]

Indeed a sad day.

But - I'm buying what I want, no matter.

The US govt is backing GM and Chrysler cars and warranties.

If I wanted a Challenger, I would STILL buy it!

I'm buying a new Camaro - No Matter What!!

The hell will NOT last forever.

I thank the President for helping GM and Chrysler avoid Chapter 7.

Lastly, there's never been a better time to buy American brands. :flag2:

[Speedy1975]

Pretty crazy times. I'm glad I got my muscle car while it was available. I've got a gut feeling these things are about to become a very rare breed.

I went with the Challenger and love it, so buy your Camaros while you can....I'll bet GM's next unfortunately. They got longer to deal due to them being a publically traded company....but I still don't think the outcome will be any different than Chrysler.

I gotta say I never thought this would happen.

[dkb]

I have seen the future of America ... and it's full of metrosexuals.

I don't think the musclecar can possibly survive ...

So maybe I should take delivery on the last one to be built by GM despite my disgust over the entire thing ...

aaaaak.

[Zabo]

Originally Posted by camaro5

Indeed a sad day.

...

Lastly, there's never been a better time to buy American brands. :flag2:

:Mexico:

...racist board.

[dkb]

I just read that the brits have ordered these for their front line troops in Afghanistan ... no joke.

Maybe Fiat/Chrysler can start building these?


"The Springer dune buggy will be an added capability for troops at Forward Operating Bases in Afghanistan. This contract demonstrates that we're continuing to invest in vehicles for the front line."