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Can Chrysler Turn It Around in Bankruptcy?

464 messages,  Last post on Oct 02, 2009 at 2:05 PM

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What is this discussion about? Chrysler


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#312 of 464
lemko... by iluvmysephia1
Apr 02, 2009 (9:38 pm)
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of course we have discussed that on here before, letting the Big 3 fail. But the current leaders fear that too many related jobs will also be lost. Trickle down economics, or, not. Looking at it practically, letting them fail seems much simpler. Even without bankruptcy and reorganizining them for a stronger, leaner, meaner Company.
 
Go to another industry and just leave the carbuilding to the Japanese, Germans and Koreans. See how nasty that can sound?
 
Nationalism can have some strong tentacles to it.
#313 of 464
Re: Chrysler = Lehman Brothers? [steve_] by nippononly
Apr 02, 2009 (9:38 pm)
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Replying to: steve_ (Apr 02, 2009 12:59 pm)

I just don't buy it. 2-3 million people eventually unemployed as a result of Chrysler liquidating? MILLION with an M?? Nah.
#314 of 464
Re: Chrysler = Lehman Brothers? [nippononly] by dtownfb
Apr 03, 2009 (7:02 am)
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Replying to: nippononly (Apr 02, 2009 9:38 pm)

The realistic issue is the failure of many suppliers. many of them are living on credit and the "promise" of being paid by GM and Chrysler. We would lose jobs. Of course, no one can predict how many we would lose because I honestly believe there are investors sitting on the sideline waiting for Chrysler and GM to declare bankruptcy to buy up some of their assets (divisions) at a reasonable cost.
#315 of 464
the petition has been filed by steve_ HOST
May 01, 2009 (8:43 am)
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Chrysler filed Chapter 11 yesterday after much anticipation. Now they are working on getting motions before the bankruptcy court for a "fast, surgical reorganization."
 
They were fast in working things out with the UAW and the Fiat tie-in, but 30 to 60 days to get a bankruptcy plan approved would be really fast.
 
Chrysler Bankruptcy: It's Official as Case No. 09-50002 (AutoObserver)
 
Chrysler Plants Shut Down Until Bankruptcy Over; CEO Nardelli Out (AutoObserver)
 
Can they do it? And will it last?
#316 of 464
Re: the petition has been filed [steve_] by dtownfb
May 01, 2009 (9:55 am)
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Replying to: steve_ (May 01, 2009 8:43 am)


Can they do it? And will it last?
 
Not sure. the debt holders look like they are digging in (at least a few are). Fiat can walk away from this deal anytime.
#317 of 464
Re: the petition has been filed [dtownfb] by nippononly
May 01, 2009 (11:15 am)
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Replying to: dtownfb (May 01, 2009 9:55 am)

Fiat can walk away from this deal anytime.
 
That's the biggest problem, IMO.
 
I love how this is a debtor-in-possession, with the U.S. government the one being in possession (using our taxpayer money), only to turn around once the BK is resolved and hand the whole thing to investors and Fiat, without a penny of return on our money.
 
They should have liquidated this turkey.
#318 of 464
Re: the petition has been filed [nippononly] by hpmctorque
May 01, 2009 (7:05 pm)
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Replying to: nippononly (May 01, 2009 11:15 am)

I agree with you, that the aid our government has extended to GM, Chrysler and suppliers is not a wise use of taxpayer money.
#319 of 464
Re: the petition has been filed [hpmctorque] by dtownfb
May 03, 2009 (12:26 pm)
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Replying to: hpmctorque (May 01, 2009 7:05 pm)

It's all about trying to save as many jobs as possible. Also trying to do as much as possible to save the US auto industry without a complete government takeover. Right now, our money is only dragging out this saga. At least Presidents Obama and former President Bush can save they tried to save GM and Chrysler the best they could without any help from Congress.
 
In the end, I don't see GM making it either. If I were GM, after watching Chrysler negotiate with their bond holders, I would be very afraid. GM has about 8 times more debt than Chrysler.
#320 of 464
Re: the petition has been filed [dtownfb] by steve_ HOST
May 03, 2009 (2:04 pm)
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Replying to: dtownfb (May 03, 2009 12:26 pm)

It's all about trying to save as many jobs as possible.
 
Not to mention the economic benefits generated from 600,000 retirees drawing checks on their UAW pensions.
#321 of 464
Just Wondering by oldfarmer50
May 03, 2009 (2:49 pm)
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How will all this effect the rebates and incentives?

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