chry to declare BK TODAY!

RACER X · 04-30-2009, 09:09 AM

from yesterday

Bloomberg is reporting that President Barack Obama is expected to announce tomorrow that Chrysler will enter Chapter 11 bankruptcy before signing an alliance with Italian automaker Fiat. Under the deal, Chrysler's most valuable assets would be sold to a new "entity." Fiat is expected to take a 20 percent ownership stake in Chrysler, a union retiree health-care trust fund would own 55 percent, and the rest of the company would be owned by the U.S. government.

http://www.bloomberg.com/apps/news?p...d=a97rZxZqE4S8

Dave · 04-30-2009, 09:17 AM

fuck that

Rider · 04-30-2009, 09:46 AM

If it wasn't such an impact on the MI economy I'd say fuck them and let them go out of business, but we already have the highest unemployment rate in the nation at 12%. Thank god somebody is looking out for us.

Rsv1000R · 04-30-2009, 11:19 AM

I would rather the gov give out welfare to people by giving them a chance to get/keep their job, than just handing them money.

bmblebee · 04-30-2009, 11:51 AM

If the union and the government run Chrysler like they have handled their own affairs for the last 20 years...it will just be another hole in the water they are trying to drown us all in.

BobTheBiker · 04-30-2009, 03:12 PM

we're fucked. plain and simple. my vote goes toward liquidating the company's assets to various enities that can actually RUN a business, and give the unions the boot.

Rsv1000R · 04-30-2009, 03:32 PM

Quote:

Originally Posted by BobTheBiker

we're fucked. plain and simple. my vote goes toward liquidating the company's assets to various enities that can actually RUN a business, and give the unions the boot.

And what auto company wants to buy more capacity right now?

Particle Man · 04-30-2009, 04:32 PM

they did file:

http://www.reuters.com/article/domes...53T6N120090430

bmblebee · 04-30-2009, 08:04 PM

You gotta admit, Obama is keeping his promise to the union. They put 100 mil into his campaign, and now he is giving them both Chrysler and GM...

101lifts2 · 05-01-2009, 12:22 AM

I wonder how much the Fiat 500 is gonna cost.

04-30-2009, 09:09 AM	#1
RACER X AMA Supersport Join Date: Nov 2008 Location: Richmond, Tx Moto: '10 Tuono Factory Posts: 4,569	chry to declare BK TODAY! from yesterday Bloomberg is reporting that President Barack Obama is expected to announce tomorrow that Chrysler will enter Chapter 11 bankruptcy before signing an alliance with Italian automaker Fiat. Under the deal, Chrysler's most valuable assets would be sold to a new "entity." Fiat is expected to take a 20 percent ownership stake in Chrysler, a union retiree health-care trust fund would own 55 percent, and the rest of the company would be owned by the U.S. government. http://www.bloomberg.com/apps/news?p...d=a97rZxZqE4S8 __________________ ΜΟΛΩΝ ΛΑΒΕ 2014 GROM! 181cc of FURY 2010 Aprilia Tuono Factory - SOLD 2009 SFV Gladius - SOLD 2008 Hayabusa - SOLD.

04-30-2009, 09:17 AM	#2
Dave Chaotic Neutral Join Date: Feb 2008 Location: Cherry Hill NJ Moto: GV1200 Madura, Hawk gt Posts: 13,992	fuck that __________________ TWF Post whore #6

04-30-2009, 11:51 AM	#5
bmblebee Community Curmudgeon Join Date: Nov 2008 Location: Tallahassee Moto: '04 F4i Posts: 373	If the union and the government run Chrysler like they have handled their own affairs for the last 20 years...it will just be another hole in the water they are trying to drown us all in. __________________ Alcohol, Tobacco and Firearms should be a convenience store and not a government agency If You Don't Know What Your Rights are...You Won't Have Any

04-30-2009, 04:32 PM	#8
Particle Man Custom User Title Join Date: Nov 2008 Location: Central NY Moto: 2003 SV650S Posts: 14,959	they did file: http://www.reuters.com/article/domes...53T6N120090430 __________________ I'm not "fat." I'm "Enlarged to show texture." Handle every stressful situation like a DOG: If you can't eat it or hump it, pi$$ on it & walk away.

04-30-2009, 08:04 PM	#9
bmblebee Community Curmudgeon Join Date: Nov 2008 Location: Tallahassee Moto: '04 F4i Posts: 373	You gotta admit, Obama is keeping his promise to the union. They put 100 mil into his campaign, and now he is giving them both Chrysler and GM... __________________ Alcohol, Tobacco and Firearms should be a convenience store and not a government agency If You Don't Know What Your Rights are...You Won't Have Any

04-30-2009, 09:46 AM	#3
Rider Moto GP Star Join Date: Feb 2008 Posts: 12,156	If it wasn't such an impact on the MI economy I'd say fuck them and let them go out of business, but we already have the highest unemployment rate in the nation at 12%. Thank god somebody is looking out for us.

04-30-2009, 11:19 AM	#4
Rsv1000R WERA White Plate Join Date: Nov 2008 Posts: 1,059	I would rather the gov give out welfare to people by giving them a chance to get/keep their job, than just handing them money.

04-30-2009, 03:12 PM	#6
BobTheBiker too much time on my hands Join Date: Jul 2008 Location: the northern district of god damn Moto: 01 ZX6R, looking for more now. Posts: 1,802	we're fucked. plain and simple. my vote goes toward liquidating the company's assets to various enities that can actually RUN a business, and give the unions the boot.

05-01-2009, 12:22 AM	#10
101lifts2 WSB Champion Join Date: Nov 2008 Location: Anaheim, CA Moto: 2009 Kawi ZX6R Posts: 5,570	I wonder how much the Fiat 500 is gonna cost. __________________ Train Hard Ron Paul - 2012 Mark of Excellence GM