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Automotive News & Views Can Chrysler Turn It Around in Bankruptcy?
464 messages, Last post on Oct 02, 2009 at 2:05 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: fezo (Jan 19, 2009 7:12 pm) New discussion: Chrysler Allies With Fiat |
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"Chrysler has been socked by two lawsuits in as many days, prompting at least one expert to wonder if more lawsuits can be expected and force Chrysler into official bankruptcy proceedings." Chrysler Hit by Lawsuits; Is Bankruptcy A Way to Cope? (AutoObserver) |
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"If we get funded, we're viable and can continue to invest in future," Press said. "If we get the relationship with Fiat, we'll go from viable to being in really good shape." Chrysler's Jim Press: "Things Aren't So Bad"
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Replying to: steve_ (Mar 10, 2009 10:04 am) The reason I'm asking is I know Jim Press had a conference call "strongly urging" the dealers to order more cars.
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Replying to: dtownfb (Mar 11, 2009 6:30 am) 
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Replying to: steve_ (Mar 10, 2009 10:04 am) "It's hard to say things are good when sales were only down 25 percent [retail]. That's terrible, but it's less terrible than the industry decline of 40 percent," said the always upbeat Press. There's nothing to say that the 40% decline in sales is ALL retail, NONE fleet. And it ignores that the declines among the Japanese Big 3 were substantially less than 40%. Edmunds.com, parent of AutoObserver.com, estimates Chrysler spent about $5,556 per vehicle in incentives in February, an industry and a Chrysler-all-time high, Does it matter how good or bad sales are if they sell every one at a steep loss? And the tone of the whole thing is belied by the fact that Chrysler just asked for another $5 billion, or was it $6 billion, just to fund operations in 2009. I don't believe in Chrysler's future. |
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"With Chrysler and GMAC both floundering, Cerberus has reduced its exposure in its overall portfolio. The two companies combined now represent 7 percent of Cerberus's portfolio, instead of the previous 12 percent. "They are less exposed than everyone thinks," Mark Epley, who is responsible for the relations with private equity firms at Deutsche Bank, told the Financial Times. "They are diversified. Nothing kills them." Cerberus' Feinberg: Hanging In With Chrysler and GMAC "In the weeks leading up to March 31, the day President Obama's auto industry task force gives some direction about whether the government will continue to invest billions to keep General Motors and Chrysler afloat, Chrysler executives have spoken in terms that seem to indicate a festering anxiety at the company's headquarters here. In some cases, executives have issued threats. Some have deeply contradicted one another. Always-provocative CEO Bob Nardelli has contradicted himself." Chrysler Rhetoric Gets Contradictory - and Desperate? 
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Replying to: steve_ (Mar 25, 2009 6:51 am) Did Chrysler production ever begin again after the "temporary" stoppage announced right after New Years?
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Replying to: nippononly (Mar 26, 2009 9:37 am)
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