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So Chrysler is filing chapter 11? Who didn’t see that coming? This is where the government should have actually stepped back and listened to the people, instead of listening to lobbyists. The big 3 are all going to face this. GM will be next. Ford may be able to survive. We all knew that a bailout was only a weak band-aid.
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The last time Chrysler got help from the government, Chrysler paid it back. What troubles me in all this is that the UAW will own 55% of the automaker (and GM). Does anyone really think a union owning 55% of anything is a good idea?
This was inevitable, they would of saved some money maybe if they would of allowed it to happen earlier.
With the passing of todays statewide smoking ban (and don’t get me started on the BS of this subject, let’s just say big brother needs to kiss my ass already and get out of my life. viva la revolution), I started thinking.
I find it very funny that our brilliant government decided we absolutely needed to bailout the Big 3 because of “the millions of businesses that would suffer because they are connected to the automakers” and they listed advertising. Isn’t the tobacco industry one of the biggest spenders on advertising? Aren’t we condemning them by creating smoking bans and then also hurting the same “connected” businesses that we are supposedly saving by helping the Big 3? Aren’t we rewarding the Big 3 (with a bailout) for doing a poor job of running their business and selling their product and punishing the tobacco industry (with banning the use of their product) for being successful at the being profitable and getting people to buy their product?
Are we going to bailout the tobacco industry after we destroy it?
The Loan was to cover expenses and operating costs before they got to the point of Chapter 11. It is suppose to be paid back, unlike the Banks that got a check. It was also a loan from the Government since none of the Banks that got the Government money bothered to actually start loaning it to anyone.
This was a structured closing/ending, whatever from the start. The money was also suppose to entice a outside buyer but no one is that stupid. Once Chapter 11 rolls threw and Chrysler comes out lean and mean then you will see Fiat jump in the mix even more I suspect. UAW owning 55% is the one thing I don’t get. I can’t understand how this is going to be a good thing.
For GM and Chrysler to get threw this what we need is for Obama to shut up and get out of the way. Every time that man opens his mouth the Dow goes in the tank.
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