Chrysler = Bankrupt.

[87wildside]

http://www.msnbc.msn.com/id/30489906/


WASHINGTON - Chrysler filed for bankruptcy protection Thursday and announced it will temporarily halt most of its vehicle production while it completes a deal with Italian carmaker Fiat designed to revive its tattered fortunes.The Obama administration said it had long hoped to stave off bankruptcy for the nation’s third-largest automaker, but it became clear that a holdout group of creditors wouldn’t budge on proposals to reduce Chrysler’s $6.9 billion in secured debt. Clearing those debts was a needed step for Chrysler to restructure by a government-imposed Thursday deadline.

[Jay-Sliver]

I figured GM would be the first. Yay for Chrysler taking the first leap :D

Jay

[russ_2004_85]

Guys think GM will file?

[87wildside]

Yes I do.
Might be good for them in the long run though.

[BigTruckDrivah]

chapter 11 just resets the debt so to speak. Just part of owning a business in a crummy economy on a bigger scale. Id rather see this than bailout. Although, my buddy just bought a brand new dodge pickup with a "lifetime" powertrain warranty, he called the dealer today and they weren't sure if they could honor this any more?

[Cameo_S10]

I hate to say it but Ford is the only one that had any sense at all!:(

[manofthehour114]

I hate to say it but Ford is the only one that had any sense at all!:(


I never thought I'd respect Ford as much as I do now.

[csl2006]

ha stupid dodge. they can "ram" it up their ass :D

[BigTruckDrivah]

No your wrong Cody, dodge is "rammin" up their customers azz!

[spideyjected]

We have a Dodge mini van. It just went 5,000 miles before it's oil change "oops". The oil was still pretty clean, "you could see through it".

[offroadfirstgen]

the governments are supposed to honour warentees (at least thats what the canadian government said i dunno what urs said)

[spideyjected]

Our government just says "Ben ova bish!!"

[Bozup]

honestly I'm in favor of these companies f'n up. For the last few months have seen increase of business people are sticking with what cars they have or buying used and bring to independent shops.

[BigTruckDrivah]

Clean engine=clean oil
While the heads were off of my 4.3 I poured diesel through the lifter valley and out drain plug until I was blue in the face. Every time I change the oil it's still slightly golden. And I put some HARD city miles on it.

[87wildside]

Funny thing about them merging with FIAT. They say it's to help Chrysler offer more fuel efficient vehicles to the public...that will save them according to the Fed.....

HEY! Retards. The reason the auto industry was hit so hard is because the banks stopped lending and the auto industry is run by, well, a bunch of fvcking retards. Ford and GM's sales are up in comparison to Honda and Toyotas (the most fuel efficient brands). Does that tell you something? It tells me fuel effiency ratings are over rated in the US market and the consumer buys whatever they want based on a multitude of reasons such as looks, status, brand loyalty, work (trucks), safty ratings, fuel effiency, price range, etc. One sector will not be your saviour and with the so call efficient brands losing market share it does'nt seem like a wise decsion to go in that direction....

[manofthehour114]

Funny thing about them merging with FIAT. They say it's to help Chrysler offer more fuel efficient vehicles to the public...that will save them according to the Fed.....

HEY! Retards. The reason the auto industry was hit so hard is because the banks stopped lending and the auto industry is run by, well, a bunch of fvcking retards. Ford and GM's sales are up in comparison to Honda and Toyotas (the most fuel efficient brands). Does that tell you something? It tells me fuel effiency ratings are over rated in the US market and the consumer buys whatever they want based on a multitude of reasons such as looks, status, brand loyalty, work (trucks), safty ratings, fuel effiency, price range, etc. One sector will not be your saviour and with the so call efficient brands losing market share it does'nt seem like a wise decsion to go in that direction....


Veryveryvery true!
The big banks are finally lending again and turned a first quarter profit this year :D and prices are falling at the grocery store I work at. The economy is on the road to being fixed.

Thanks Obama! haha :p

[csl2006]

thats what they want you to think

[manofthehour114]

thats what they want you to think


Stop being so pessimistic :p
Things are getting better IMO.

[csl2006]

eh things aren't gonna get better in a lonnnnnnng time. Just wait until next years taxes......just you wait lol

[manofthehour114]

Oh crap... I didn't even think about that :eek:

All of that money the govt has been dishing out... I guess they have to make it back somehow.

[csl2006]

well duh you think the commies are just gonna give us the money and the govt will magically pay them back hellz no. Gov't only care about themselves sitting in their chairs while us workin people are out supporting the USA and we still get screwed over ugh !

[87wildside]

And one more thing that pisses me off about this.
Since when does the federal government tell a company to sell out to a foreign company? So basically we are sending all the "bailout" money to Italy?

[spideyjected]

Big tax increases are probably on the horizon.

[87wildside]

Of course they are. That's as far as I can go about that out of VIP....

[csl2006]

eh we dish out our "economic aide" money to other foreign country business's anyways. Obamas a wack job. Other countries thinks he's a muslim and Irasel hates him.

[Quocrarosak]

Chrysler is going to file bankruptcy under Chapter 11 protection. Chrysler will try and form a partnership with the Italian car maker Fiat Group SpA. The government has already loaned out 4 billion to Chrysler and could loan out more to carry it through bankruptcy. What are some ideas as to what Chrysler and the government should do in this situation?

[87wildside]

The government should commit suicide.

[spideyjected]

The government should commit suicide.

I agree whole heartedly.