Chrysler Bankruptcy

not good times right now. i also heard that chevy is cutting all the "ss" rigs??? not sure if this is true or not.
 
I live pretty close to the Warren stamping plant, people are pi$$ed off. Not only Chrysler employees, but the local businesses. I'm not talking about the various suppliers, but restaurants, party stores and such. And believe it or not, there is an emergency industrial clinic in that area that can no longer stay open 24 hours - no more people needing emergency medical care. It affects more than you'd think.

As for your warranty Meghan, I think I heard that the government will back all existing auto warranties.
 
Tough times for Chrysler. Chrysler has some nice vehicles but most of their cars either make no sense or the market just has much better alternatives out there in the same price range.
 
Emile said:
Tough times for Chrysler. Chrysler has some nice vehicles but most of their cars either make no sense or the market just has much better alternatives out there in the same price range.
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I completely agree, but have you driven a Fiat (Fix It Again Tony)? I think this Fiat merger was just a last ditch effort to save Chrysler. It was part of their recovery plan - and this was supposed to be the save all. Well, it didn't work. Still filling chapter 11. What an investment of my tax dollars.
 
Everyone knew the bailouts were only halting the inevitable.

Now we'll be trillions of dollars in debt for the coming decades.
 
They may just be the first. Hopefully they have learned something and will not fall into the same trap. I have a feeling that GM may be next. If these two companies get lean and profitable out of this Ford may have too follow suit.
They all need to break the union hold (salaries way too high); they also need to get there retirement programs under control.
 
We are so lucky. We have Obama to fix these kinds of things:D
I also heard a while back that Obama said the goverment would take care of warranty on cars. They can't run the country,
the screw up everything they touch, now they're going to repair our vehicles and health care? Ever heard the saying "I'm with the goverment, I'm here to help"? How many wants the goverment to "repair" their vehicle. I love my country, but this is too much. It seems they want to run everything. Like the company stores the coal miners had to deal with. What's next?
 
Dsoto87 said:
Everyone knew the bailouts were only halting the inevitable.

Now we'll be trillions of dollars in debt for the coming decades.
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Yup
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Boy that move to Bali is looking better and better all the time...
 
redboost10 said:
not good times right now. i also heard that chevy is cutting all the "ss" rigs??? not sure if this is true or not.
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Not sure, but it would make sense. SS vehicles, while impressive performance-wise, usually get poor SUV-like mileage compared to the non-SS counterparts and it would be a PR nightmare.

Emile said:
Tough times for Chrysler. Chrysler has some nice vehicles but most of their cars either make no sense or the market just has much better alternatives out there in the same price range.
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Couldn't agree more. I haven't been impressed with Chrysler products (Except for the late 90's 300.:)) for over twenty years. I do like the new Challenger a lot, but the interior styling is forgettable. And what's the deal with only coming out with the overpriced SRT8 with Hummer-like mpg for a year before coming out with "lesser" Challengers?! :mad:
 
Just goes to show you how retarded our government is, anyone with half a brain knew the bailouts were doing nothing but post-poning the inevitable. I have money on GM claiming BK this year as well, their burning through cash to quickly, only way they won't claim BK is if our gov keeps giving them babysitting money. For one thing, BK is good, on the corporate level this allows companies to completely restructure themselves (you know Chrysler was very strong and profitable and went to the shitter in revenue and profits the second Daimler made the acquisition around 98'). GM and Chrysler should have filed BK last year.
 
Surfer said:
Just goes to show you how retarded our government is, anyone with half a brain knew the bailouts were doing nothing but post-poning the inevitable. I have money on GM claiming BK this year as well, their burning through cash to quickly, only way they won't claim BK is if our gov keeps giving them babysitting money. For one thing, BK is good, on the corporate level this allows companies to completely restructure themselves (you know Chrysler was very strong and profitable and went to the shitter in revenue and profits the second Daimler made the acquisition around 98'). GM and Chrysler should have filed BK last year.
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yeah, no sh!t. Especially when they are still making rubbish, like Buick. If they don't want to go bankrupsy, they need to stop making rubbish. Start making cars that people want to buy, not ones, that can barely run for 100k miles...
 
termigator said:
Not sure, but it would make sense. SS vehicles, while impressive performance-wise, usually get poor SUV-like mileage compared to the non-SS counterparts and it would be a PR nightmare.
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Why would it be a PR nightmare to keep a performance line running? People still want performance vehicles and to be more specific American Muscle. There will always be a market for a performance line up. The only reason I see the SS line going away is because of the tree hugger government is telling them to. God forbid should any American be able to have any kind of fun.
 
the govt has already suggested it will cover warranties, and in most states a bond needed to be purchased before the use of warranties. The real problem becomes parts, if they fail to make them and they dont pay their debts to other companies making their parts then they bankrupt also .....meaning a warranty but no replacement parts !

As for GM .... they are releasing the Pontiac line effective 2009/2010 model year for a fact. Likely some rides like G6 and Soltice will move to Buick or other divisions. Buick is huge in China as is Cadillac now and the bread and butter for intl sales. The performance division was first to go at Chevy as the cost did not measure the benefit. The aftermarket industry already has a bigger part of upgrades and performance increases then they were able to grab onto. I dont even see the Corvette lasting much longer and suspect the Z06 and ZR1 will be cancelled after 2010 run even if bankruptcy is not forced.
 
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Shane527 said:
Why would it be a PR nightmare to keep a performance line running? People still want performance vehicles and to be more specific American Muscle. There will always be a market for a performance line up. The only reason I see the SS line going away is because of the tree hugger government is telling them to. God forbid should any American be able to have any kind of fun.
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It would be bad PR because performance cars like the SS lines are derivatives of more efficient vehicles. They require extra resources to start up. Sure it's not nearly as much as starting a performance line from scratch, but it still takes away valuable resources that the companies just can't afford right now.
Besides, to push performance at the expense efficiency right now is just another message that they have not changed their ways at all and that's not the message they want to send out right now. And yes, the SS line would be going away because of the "tree hugger government." I'll take a "tree hugger government" over a big oil government any day of the week.
 
supercharged said:
yeah, no sh!t. Especially when they are still making rubbish, like Buick. If they don't want to go bankrupsy, they need to stop making rubbish. Start making cars that people want to buy, not ones, that can barely run for 100k miles...
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Well the cars are very reliable and still sell well for the economy (heck Ford just outsold Toyota last month), hell Buick is held in higher regard then Toyota and Honda in China (driving a Buick there is akin to someone driving an S class Benz etc here), it's not a problem of selling cars for for GM and Ford... it's their overall cost thats killing them, union, pensions etc it's a drain on the company...especially GM. Lately their cars have been getting better reviews then their foreign competitors in comparisons.

Here's the other thing, everything that's gone on so far has left one extremely important part of our economy out, commercial sector (real estate, paper etc). We're right at the tip of a CRE collapse, just wait till all the investors, insitutions, and anyone in the capital markets holding CMBS paper starts asking for a bailout. Right now there's over $1 trillion in CRE exposure, this is gong to be a cluster f!#@. And these notes go on till about 2016 or so, all those loans adjusting durring that period showing how long this could drag on for. Seeing it right now, General Growth already filed BK as they can't service their debt, and although I'm not mentioning names there are some big name casinos that are going under in the next year or so (they can't get extensions on debt, and can't refinance their debt as value isn't there and cashflow can't support it), same thing in the hospitality industry.
 
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