Chrysler

[Max2147]

Some rumblings out there say that Chrysler will declare Chapter 11 bankruptcy tomorrow: http://www.autoblog.com/2009/04/29/r...ptcy-tomorrow/

It's hard to figure out exactly what will happen, but it sounds like Fiat will come in and take a major stake in Chrysler. Some sources say that Fiat's CEO Sergio Marchionne (who Obama has publicly praised) will become the boss at Chrysler.

This might end up being a good thing. Chrysler needs a miracle right now, but if anybody can do it it's Marchionne. He turned Fiat around in a couple years when nobody thought it was possible. If Luca Montezemolo (Fiat's chairman) is involved it'll be even better - everything that guy touches turns to gold.

At the same time, there's just something strange about bringing in Italians for their management expertise.

[GoldenRivet]

just wait until a lot of the major American corporations are owned internationally.

like i said.

America is for sale: one piece at a time

[FIREWALL]

Maybe a Ferrari in Chrysler's future ?

I can see it now. A low budget Ferrari.

[GoldenRivet]

if Chrysler has anything to do with it - it will be low budget

im glad they dont make airplanes

[FIREWALL]

Originally Posted by GoldenRivet

if Chrysler has anything to do with it - it will be low budget

im glad they dont make airplanes

GLAD THEY DON'T MAKE AIRPLANES !!! :rotfl::rotfl::rotfl:

[Jimbuna]

Originally Posted by GoldenRivet

just wait until a lot of the major American corporations are owned internationally.

like i said.

America is for sale: one piece at a time

Which is exactly what has happened with your British cousins (especially the motor manufacturing industry) across the pond over the last decade

[AVGWarhawk]

Chapter 11 allows Chrysler to rework managment and lower costs while debt owed is stopped for a time. Chrysler could come out a much sleeker company as a result. This is what Chapter 11 protection offers. Let see if they run with it or die trying.

[SteamWake]

Dont worry the goverment will step in and save them then run it into the ground.

[AVGWarhawk]

I think it best the gov stays out. Let them take Chapter 11 protection. I think Chrysler has already advised that this is the route they will take and they will not need this protection under chapter 11 for long. I have to and it to Obama, he stated he does not want to run banks and car companies, he is busy running two wars. He is correct, let Chrysler steer their own ship.

[Digital_Trucker]

http://www.forbes.com/2009/04/30/chr...er-update.html

That gives you a fairly good idea what's going to happen (at least, what the plan is).

[AVGWarhawk]

Good find DT.

It will be a "surgical bankruptcy," senior administration officials optimistically say, lasting just 30 to 60 days. The government will provide $3 billion to $3.5 billion in so-called "debtor in possession" financing to keep the company running and another $4.5 billion in exit financing. In addition, the Canadian government will provide $1 for every $3 of U.S. taxpayer money on the line.

Looks like a helping hand(s) in this one. Interesting the Canadian government is also providing. This will show you how deep the industry is across the boarder and it does affect them.

[ReallyDedPoet]

Originally Posted by AVGWarhawk

Good find DT.



Looks like a helping hand(s) in this one. Interesting the Canadian government is also providing. This will show you how deep the industry is across the boarder and it does affect them.

Yeah, were chipping in. The whole downturn in the auto industry has resulted in thousands of job losses here,
especially in Ontario.

[Digital_Trucker]

Originally Posted by AVGWarhawk

Good find DT.



Looks like a helping hand(s) in this one. Interesting the Canadian government is also providing. This will show you how deep the industry is across the boarder and it does affect them.

Never hauled any Chrysler parts from Canada in, but I've hauled plenty of racks to Canada and parts back to Detroit. You'd be surprised how little of an American made car is actually American.

[AVGWarhawk]

I was in the transportation side of the industry for 10 years with Central Transport. We handled quite a few racks out of Westminster MD and we serviced the GM plant here in Baltimore. JIT trucking sucks...shut down a line and see a few really start ripping you a new one. Central Transport did millions annually for GM in Detroit. In fact, the owner of Central Transport purchased the Ambassador Bridge into Canada! I do not miss pulling the production line parts. NO SIR!

[Digital_Trucker]

Originally Posted by AVGWarhawk

I was in the transportation side of the industry for 10 years with Central Transport. We handled quite a few racks out of Westminster MD and we serviced the GM plant here in Baltimore. JIT trucking sucks...shut down a line and see a few really start ripping you a new one. Central Transport did millions annually for GM in Detroit. In fact, the owner of Central Transport purchased the Ambassador Bridge into Canada! I do not miss pulling the production line parts. NO SIR!

Amen to that JIT should be JITTWFFE (just in time to wait for frackin' ever) from the drivers' side, anyway.