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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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does the Italian Guv-Mint have any cash sitting around? 
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Replying to: iluvmysephia1 (Apr 02, 2009 8:16 am) I believe they are currently under a lot of pressure to follow Germany's example and bail out their own car industry. They seem to be resisting a lot more than Germany did.... |
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so you're sayin' there's a chance! 
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Replying to: iluvmysephia1 (Apr 02, 2009 8:33 am)
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seems to be wanting to stop GM from going out of business in the worse way. He's only giving Chrysler 30 days to present a viable profitibility plan but allowing GM 60 days. Oh well, bigger problems require more time to meddle through and fix, I spose. It looks bad for both carmakers. Ford might make it, but, they borrowed some money, too, and sold off assets. Smart move, but they will owe money too eventually. I have read the year 2010 the amounts will have to start getting paid back. lt still looks hairy for all 3 of them, add to these problems the fact that some people(a lot, actually) won't buy from a manufacturer that is struggling and near-bankrupt. Hence Obama's plan to back GM Warranties through thick and thin. Ford is trying to be smart and trying to gain an edge from American consumers by claiming they don't need a handout and are a solid carmaker to purchase a car from. |
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yesterday one of the rating services - believe it was Moody's - lowered Fiat to junk-bond status. This is more support that Fiat is in no shape to support anyone else. I look at the auto manufacturers and markets similar to a herd of antelope and a grassy feed. The herd is too big and the grass is drying up - some need to die, so the others can thrive. The quicker some die, the better off the others will be. If the government intervenes and saves Chrysler and then GM, this weakens Ford. Ford (and others) needs more customers to get enough volume to make profits.
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it is socialistic idealism that is guiding the current Administration's thinking on this monster of a problem. Trying to save jobs, and going to their aid, like so many countries worldwide normally do.
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Replying to: iluvmysephia1 (Apr 02, 2009 9:00 am)
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Replying to: nippononly (Apr 02, 2009 8:45 am) |
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Replying to: lemko (Apr 02, 2009 9:13 am) If manufactures go under - the unemployment numbers for the past 3 months would be considered good months. There were very good reasons for the panicked $700B bailout by Paulson and Bush (at least how it was explained to me by a person with absolutely no political affiliation). They should have put more strings attached and thought it out longer. But it was an emergency bill and hindsight is 20/20. At least with the banks there is a good chance we will get the money back. I don't see GM or Chrysler able to pay back these loans. |
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