Wednesday, April 29, 2009

Chrysler Headed for Bankruptcy

I guess I’ve bought my last Chrysler.

Chrysler’s best assets would be sold to a new entity that would have an ownership structure similar to that envisioned in an out-of-court deal between the Auburn Hills, Michigan-based automaker and Fiat, based in Turin, Italy, the people said.

The Italian company would become a 20 percent owner of Chrysler, and a union retiree health-care trust fund would own 55 percent, with the rest of the company staying in the government’s hands initially, the people said.

When 80% of the company is owned by the union health-care trust fund and the government, I doubt that the consumers’ concerns are paramount.

(7) Comments
Posted by Owen at 1811 hrs
Economy + Politics + Politics - General

  1. Actually, just heard that Fiat is finalizing by tomorrow (I also heard of the impending bankruptcy on the way home. This seems to be awfully fluid…).

    Still, I hope it goes through then we can get the Fiat 500 here.
    Oh, sure, it’s a POS. But back in the day, my brother souped one up back home in the “village.” He ended up having to put an obscene amount of extra weight in the wheel wells just to keep it on the ground.
    It. Was. Awesome!

    Posted by still Unreal... on April 29, 2009 at 1842 hrs


  2. We should have stopped buying Chryslers before we bought this stupid, POS Town and Country.

    Posted by .(JavaScript must be enabled to view this email address) on April 29, 2009 at 1845 hrs


  3. Always bought american…but have bought my last american car.  I’m not buying a car from the government or a union

    Posted by .(JavaScript must be enabled to view this email address) on April 29, 2009 at 2024 hrs


  4. Curt - buy Ford!!!  They are the only one who didn’t come with their hand out.  Just yesterday I was stopped by an “elderly gentleman” as I walked into the grocery store.  He asked if that black Taurus was mine and if it was how did I like it.  I said yes, I love it, it’s a 100th anniversary edition - all leather interior with wood trim, lots of power options (more than the 2 Cadillacs I owned) and because of all the govt. money/bailouts to the others I will only buy Ford products from now on.  I’ve also owned 2 F150 Trucks (love them), a Thunderbird (went thru 2 engines over 250,000 miles - great car).

    Posted by .(JavaScript must be enabled to view this email address) on April 29, 2009 at 2035 hrs


  5. Thanks kneenor.  I guess Ford remains on the list.  Wouldn’t be my first Ford.  (I’ve had an Escort (Crap), Contour (not quite as crappy), and a Mustang GT (nice car).  We have 3 GM cars at the moment, and I’ll probably swap out two of them in the next couple of years.  My wife’s Buick is nice, my Chevy is a POS, but man have they been giving them away. 

    Actually I’ll hopefully get another GM car, but does an old GTO or Chevelle count? 

    I wonder just how badly the anti-government crowd will hurt their already anemic sales.

    Posted by .(JavaScript must be enabled to view this email address) on April 30, 2009 at 1040 hrs


  6. We should have stopped buying Chryslers before we bought this stupid, POS Town and Country.

    I have the same sentiment about my T&C.

    Posted by .(JavaScript must be enabled to view this email address) on April 30, 2009 at 1233 hrs


  7. I wouldn’t put GM in the mix, they’re going to be at least as in the tank for the UAW/Feds as Chrysler.

    But I’ve probably bought my last GM. I love my GM trucks but support in the future is certainly questionable, and the Pontiac minivan is the last American car I’ll buy—even the Dodge minivan was better than that PoS and those d*mn Chrysler minivans drop transmissions like nobody’s business.

    Posted by .(JavaScript must be enabled to view this email address) on April 30, 2009 at 1340 hrs


Commenting is not available in this channel entry.