Chrysler files for Chapter 11 bankruptcy

[PlasmaTwa2]

Would you buy a Chrysler/Fiat car NOW ?

Hey, I drove a Chrysler for years, and it was a great car. Though maybe thats because it was a 98.

 

[sproing99]

I've driven and owned several FIAT cars over the years (especially if you include Alfa Romeos) and they're fine as long as you remember the following:

- The smaller the car the better
- Electrical stuff will go wrong
- The only two parts of the car an Italian cares about are the engine and horn
- These are the only two parts that will work
- Trim will fall off until you get to the vehicle substructure - which is essentially indestructable
- You must drive it like you stole it
- You must not pay more than 65% of the list/asking price

Follow these rules and you'll have a great FIAT experience (when my SAAB dies I'm definitely getting a new FIAT 500 - I don't care how gay I'd look)

 

[D-rock]

Hey, I drove a Chrysler for years, and it was a great car. Though maybe thats because it was a 98.

I've never driven a Chrysler or Dodge product in my life that I liked or thought was a well made car.

 

[Jagger69]

Would you buy a Chrysler/Fiat car NOW ?

Probably not, but it wasn't all that long ago that they cars they made were excellent. I have 2002 300M that is awesome and will probably make it to 200K miles.

 

[E-Ann-Hilden]

Good!

Gee thanks! :wtf: Do they actually make cars in the U.K. not owned by foreign ownership?

 

[E-Ann-Hilden]

The UAW also owns a small part of the new Chrysler but not the CAW !

The Ontario and Canadian goverment will have a stake though.

 

[ChefChiTown]

The Ontario and Canadian goverment will have a stake though.

$2.7 billion, I believe.

 

[Red Spyder]

The three major banks that are the majority creditors (70%) are willing to settle with US Government to take 20 cents on a dollar.
Let the Wall Street Hedge Funds get nothing in return !

:glugglug:

Remind to tell the guy that manages my IRA not to invest in an American company while Obama is in the White House. And all you guys with IRA's should do the same.

 

[jamrak]

For me the first sign that something was wrong with chrysler was their C300 model, obviously "inspired" by bentley cars. The level of that "inspiration" was on a borderline with false representation of chinese cars.

Not claiming that there is a link between bankruptcy and bentley-imitative C300 model, but I had lost my respect to chrysler at that time...

 

[Friday on my mind]

Remind to tell the guy that manages my IRA not to invest in an American company while Obama is in the White House. And all you guys with IRA's should do the same.

Your confusing hedge funds and mutual funds.Hedge funds do not have IRA/401ks invested in them.Hedge funds are restricted to very limited type of investor.

http://en.wikipedia.org/wiki/Hedge_fund


"A hedge fund is an investment fund open to a limited range (up to 100) of investors that is permitted by regulators to undertake a wider range of investment and trading activities than other investment funds and pays a performance fee to its investment manager. Each fund has its own strategy which determines the type of investments and the methods of investment it undertakes. Hedge funds, as a class, invest in a broad range of investments including shares, debt, commodities and so forth.

As the name implies, hedge funds often seek to offset potential losses in the principal markets they invest in by hedging their investments using a variety of methods, most notably short selling. However, the term "hedge fund" has come to be applied to many funds that do not actually hedge their investments, and in particular to funds using short selling and other "hedging" methods to increase rather than reduce risk, with the expectation of increasing return.

Hedge funds are typically open only to a limited range of professional or wealthy investors. This provides them with an exemption in many jurisdictions from regulations governing short selling, derivative contracts, leverage, fee structures and the liquidity of interests in the fund. A hedge fund will typically commit itself to a particular investment strategy, investment types and leverage levels via statements in its offering documentation, thereby giving investors some indication of the nature of the fund.

The net asset value of a hedge fund can run into many billions of dollars, and this will usually be multiplied by leverage. Hedge funds dominate certain specialty markets such as trading within derivatives with high-yield ratings and distressed debt.[1]"



Hedge funds are a province of the wealthy with a lot more risk/reward potentials.IRA's and 401k's would not be suitable to be in such.These people elected to play hard ball and hold out for more money and lost,don't we all feel sorry for them lol.

 

[lovejoy]

$2.7 billion, I believe.

The picture of Chrysler bankruptcy is slowing emerging to the public:

1. 55% of the Chrysler stakes is controlled by the UAW but UAW will appoint only one member to sit on the Board of Chrysler to represent the UAW. The so-called 55% ownership by UAW can not be directly interpreted as increased productivity by the Chrysler workers. Because Chrysler workers do NOT "directly" own stocks and bonds but UAW does.

2. The 8% ownership by US Government and 2% by Canadian federal and Ontario Government is symbolic ONLY ! It is a rescue package for retaining jobs in Canada (Windsor, Brampton, Ontario) Part of the $2.7 billion bailout to Chrysler is loan only and I believe Chrysler has taken out 700 millions already.

3. Fiat investment in Chrysler of 8.4 billion is in the form of technology and don't forget Fiat has withdrawn from the N. American market in the past.
It is a stretegic partnership/investment for Fiat to reinvent themselves in N. America and a WIN-WIN situation. On the other hand, the Japanese do not want to be partnership with Chrylser and the Germany Daimler already owns 19% of Chrysler and got burned very bad. Nissan and Renualt do form a partnership but the sales are gone really bad.

4. The whole deal is more about buying more time 6-8 years before Chrysler really sinks its ship. It is about jobs, jobs and jobs ONLY. Nothing was said about the competitive advantage of Chrysler. And it will take Chrylser/Fiat 2 years before they can launch a new car model into dealership. By then the Chinese may enter into N. American market with electric cars far superior than GM or Ford. There is nothing talk about improvement of quality and competitive advantage of Chrysler/FIAT smaller cars !

 

[Galactic]

Ha ha. Wait should I feel bad for a multi-billion dollar corporation that was run poorly, ripped off consumers, and wanted the very people who got ripped off to give them more money so they could continue to rip us off?

Nope.

Fuck them. Right in the ear.

Ha ha.

 

[lovejoy]

Re: The latest development in Chrysler and GM

Ha ha. Wait should I feel bad for a multi-billion dollar corporation that was run poorly, ripped off consumers, and wanted the very people who got ripped off to give them more money so they could continue to rip us off?
Nope.
Fuck them. Right in the ear.
Ha ha.

Chrysler asked for loans which the American and Canadian government are willing to borrow to Chrysler on conditions Chrysler has to undergo top to bottom restructuring.

Chrylser will actually be managed and run by Fiat. Fiat will put up 3 members on Chrysler Board and will ask the German Government for billions dollars of load to buy GM Opel and form a new company with asset exceeds 108 billions dollars.

Fiat will initally control 20% stakes in Chrysler and if Fiat meets the conditions to turn Chrysler profitable and provides the small efficient engines for Chrysler cars, Fiat will control 35% of the stakes. If Fiat continues to make money and pay back to American and Canadian Government, Fiat will further increase the holdings in Chrysler 12% to 47%.

Fiat has withdraw from N. American market in 1984, Fiat has turned a profit in 2006-2007 with new models and with GM Opel German arm, Fiat now has unlimited sky to sell cars in N. America and Europe and US Government will ask Fiat to pay back close to 10.5 billions back to the US and Canadian Government.

This is what President Obama and Prime Minister Stephen Harper of Canada want. We just have to wait and see in next 5-7 years if Fiat can beat Toyota, Ford, Honda and S. Korean car makers.

 

[dick knasty]

So now it sounds like Fiat is going to buy the European operations of GM and take a larger stake Chrysler. Will this turn out to be a good or bad thing?

 

[lovejoy]

So now it sounds like Fiat is going to buy the European operations of GM and take a larger stake Chrysler. Will this turn out to be a good or bad thing?

It would be a good thing if Fiat can turn Chrysler around and makes a profit.

The issue is can Fiat makes small efficient cars and still makes a profit ?

 

[lovejoy]

Remind to tell the guy that manages my IRA not to invest in an American company while Obama is in the White House. And all you guys with IRA's should do the same.

Chrysler is controlled by a private equity investment firm, unlike GM which is a public traded company.

 

[pinksock69]

fuck all the traders that went out and bought a cheap foreign model you all should be ashamed of your self's you are putting money in the hands of people that want to hurt us and taking jobs from hard working Americans

 

[lovejoy]

fuck all the traders that went out and bought a cheap foreign model you all should be ashamed of your self's you are putting money in the hands of people that want to hurt us and taking jobs from hard working Americans

Anyone who buys Toyota, Honda, Nissan, Hyundai, BMW, Subaru, VW, Mini, Kia , etc are traitors who led to unemployment in N. America, decline in living standards, give away the future generations and economic might of America and slow decline of American empire !



SAY NO TO TOYOTA !

 

[lovejoy]

fuck all the traders that went out and bought a cheap foreign model you all should be ashamed of your self's you are putting money in the hands of people that want to hurt us and taking jobs from hard working Americans

Anyone who buys Toyota are traitors, an act of treason !

 

[BlueBalls]

Anyone who buys Toyota are traitors, an act of treason !

:rofl:

Are you fucking kidding me!

What a fabulous mindset you have there, well done sir .... well done :hatsoff: