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Thread: Chrysler to file for bankruptcy

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    Chrysler to file for bankruptcy

    Just got it via a CNN alert text message, when I get an article Ill post it. This should've happened long before but of course Obama wanted to see if he could be the savior of Chrysler. Guess I wont be getting that Jeep Liberty.
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    Re: Chrysler to file for bankruptcy

    Quote Originally Posted by chevydriver1123 View Post
    Just got it via a CNN alert text message, when I get an article Ill post it. This should've happened long before but of course Obama wanted to see if he could be the savior of Chrysler. Guess I wont be getting that Jeep Liberty.
    They have been talking about it on CNBC. It was the bond holders that would not agree. The union agreed to a deal where they would own 55% of Chrysler.

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    Re: Chrysler to file for bankruptcy

    Obama will be announcing this.


    WTF is he doing announcing the bankruptcy of a private company.


    They all should be allowed to go bankrupt. A stronger, better us Auto industry will rise from the ashes of this over unionized crap fest.
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Chrysler to file for bankruptcy

    They've been prolonging the inevitable. The biggest hurdle in all of this was the UAW.

    They will not survive, even after restructuring. US automakers cannot compete against non union foreign labor.
    Pain can be such a beautiful thing

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    Re: Chrysler to file for bankruptcy

    Quote Originally Posted by GottaHurt View Post
    They've been prolonging the inevitable. The biggest hurdle in all of this was the UAW.

    They will not survive, even after restructuring. US automakers cannot compete against non union foreign labor.
    Actually it was the bond holders that not come to an agreement.

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    Re: Chrysler to file for bankruptcy

    So what you all are saying is that it is all the unions fault that these 2 car makers are failing?
    PeteEU

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    Re: Chrysler to file for bankruptcy

    Quote Originally Posted by PeteEU View Post
    So what you all are saying is that it is all the unions fault that these 2 car makers are failing?
    I dont believe anyone said that it was ALL the unions' fault.
    But then, if you didnt have straw men to beat down, you'd have no reason to post.

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    Re: Chrysler to file for bankruptcy

    Quote Originally Posted by winston53660 View Post
    Actually it was the bond holders that not come to an agreement.
    The bond holders were the secondary story. Fiat has been holding out because the UAW wasn't making enough consessions.

    The chief executive of Fiat, Sergio Marchionne, put pressure on trade unions at Chrysler on April 15, saying that the venture plan had only one chance in two of succeeding because progress had not been made in negotiations to cut pay.

    IndustryWeek : Fiat Ready with 'Plan B' if Chrysler Deal Fails

    I've said it time & time again, you cannot pay someone $75.00 an hour to screw 4 lug nuts on a wheel, and compete against foreign labor that is being paid $75.00 a week to do the same job.

    This is the second time in less than 30 years we're bailing Chrysler out.
    Pain can be such a beautiful thing

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    Re: Chrysler to file for bankruptcy

    Quote Originally Posted by PeteEU View Post
    So what you all are saying is that it is all the unions fault that these 2 car makers are failing?
    No, the US automakers share equally in the blame. While Toyota has a waiting list to sell their hybrid Prius, Cadillac is touting it's hybrid Escalade.

    Epic Fail.
    Pain can be such a beautiful thing

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    Re: Chrysler to file for bankruptcy

    Quote Originally Posted by Goobieman View Post
    I dont believe anyone said that it was ALL the unions' fault.
    But then, if you didnt have straw men to beat down, you'd have no reason to post.
    Sorry but so far here we have had:

    The biggest hurdle in all of this was the UAW.

    They will not survive, even after restructuring. US automakers cannot compete against non union foreign labor.
    And
    They all should be allowed to go bankrupt. A stronger, better us Auto industry will rise from the ashes of this over unionized crap fest.
    While others have corrected this and said it is due to the bond holders, then there is no mention of why the car companies are in this state other than the usual blaming of the unions.

    Considering that the truth is more complicated to say the least, and in that truth the unions are hardly to blame for all or even a majority of the problems of the 2 car companies. That is of course not saying that they are without blame. The main reasons GM and Chrysler are in the pickle they are in, are pure and simple.. crap product and woeful strategy for decades and poor leadership. Out of this poor leadership came the union contracts that the right seem to blame for everything.

    It is sad to see Chrysler go down, and will be even more sad to see GM, the pilar of the American industrial machine and the American dream go belly up, but lets face it.. it is all their own doing and blaming a 3rd party is a pathetic excuse.
    PeteEU

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