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Chrysler is officially bankrupt

This will not be a normal bankruptcy with a bankruptcy judge though, will it?

Not an actual bankruptcy, but a Treasury managed one that keeps the deals mentioned earlier.
 
Yeah, it's just a staged bankruptcy, not a real one. It's just the agreements we already heard about.
 
Originally posted by: The Boston Dangler
so, is it still posible for fiat to move in? i hope so.
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Yes, it is basically a way to allow the government to merge them.

I love government getting involved in everything, it works so much better!

:roll:
 
Originally posted by: iamwiz82
Originally posted by: The Boston Dangler
so, is it still posible for fiat to move in? i hope so.
Click to expand...

Yes, it is basically a way to allow the government to merge them.

I love government getting involved in everything, it works so much better!

:roll:
Click to expand...

so the government would be asking/negotiating with fiat to merge with chrysler, or something else?
 
Yeah, it's just a staged bankruptcy with the admin as the judge. They will make the deals with FIAT and the UAW and the government for the shares we already heard about.

After that, whatever is left will go through an actual bankruptcy with an appointed judge.

Creditors and shareholders will be flaming mad and may sue, because they are getting the royal purple shaft, but there is nothing they can do against the admin juggernaut, imo.
 
Originally posted by: Chunkee
Originally posted by: dainthomas
I wonder what kind of deal I could get on a new Ram now?
Click to expand...

i wonder same thing...what you looking for?

crew cab laramie? 🙂
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Just went on their website, and a 4x4 crew cab SLT is $29k after incentives. Crew cab Laramie is $36k (regular $45k).
 
The White House has announced Chrysler's entry into bankruptcy protection today,
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I wish the white house would get out of controlling this stuff.

Why is it they throw billions of dollars at the banks without second thought and leave it be with no thought of repayment, while they scrutinize every penny loaned to the automakers and take control :disgust:
 
Originally posted by: SparkyJJO
The White House has announced Chrysler's entry into bankruptcy protection today,
Click to expand...

I wish the white house would get out of controlling this stuff.

Why is it they throw billions of dollars at the banks without second thought and leave it be with no thought of repayment, while they scrutinize every penny loaned to the automakers and take control :disgust:
Click to expand...

don't think for a minute that they don't already have their hooks in the banks .. and planning how to sink them deeper.

the takeover of the auto industry was solely for the benefit of the UAW .. a trade for their support.

FIAT would be wise to walk away.
 
Originally posted by: iamwiz82
Originally posted by: The Boston Dangler
so, is it still posible for fiat to move in? i hope so.
Click to expand...

Yes, it is basically a way to allow the government to merge them.

I love government getting involved in everything, it works so much better!

:roll:
Click to expand...

Yeah, it's worked really well with GM so far. Neither GM or Chrysler will go through actual bankruptcies which is what they need to reorganize and become successful. Instead, they are going to go through political bureaucracy reorganizations with no consideration to how to run a successful business.

The government and the unions now run the company and the private bond holders were told to go screw themselves. GM is now officially Government Motors.

Anyone else looking forward to the 2012 Pelosi GTxi SS/RT Sport Edition?
 
I don't know how this will shake out, but I do believe there's a very good reason Ford wants nothing to do with that "free" government money if they can help it.
 
Originally posted by: LTC8K6
Yeah, it's just a staged bankruptcy with the admin as the judge. They will make the deals with FIAT and the UAW and the government for the shares we already heard about.

After that, whatever is left will go through an actual bankruptcy with an appointed judge.

Creditors and shareholders will be flaming mad and may sue, because they are getting the royal purple shaft, but there is nothing they can do against the admin juggernaut, imo.
Click to expand...

That is their own damn fault. They wanted to be greedy and now as far as I'm concerned now can bend over and take it. I don't like this bankruptcy one bit, especially considering I have family members who work for Chrysler. But honestly FVCK those greedy pig creditors/hedge managers etc.
 
Originally posted by: DeathBUA
Originally posted by: LTC8K6
Yeah, it's just a staged bankruptcy with the admin as the judge. They will make the deals with FIAT and the UAW and the government for the shares we already heard about.

After that, whatever is left will go through an actual bankruptcy with an appointed judge.

Creditors and shareholders will be flaming mad and may sue, because they are getting the royal purple shaft, but there is nothing they can do against the admin juggernaut, imo.
Click to expand...

That is their own damn fault. They wanted to be greedy and now as far as I'm concerned now can bend over and take it. I don't like this bankruptcy one bit, especially considering I have family members who work for Chrysler. But honestly FVCK those greedy pig creditors/hedge managers etc.
Click to expand...

Those people in Chrysler/GM had nothing to do with it. It was the management at the top that needed to go, and would have had GM/Chrysler declared real bankruptcy, which is what I was saying all along, but of course common sense is always ignored it seems.
 
Originally posted by: DeathBUA
Originally posted by: LTC8K6
Yeah, it's just a staged bankruptcy with the admin as the judge. They will make the deals with FIAT and the UAW and the government for the shares we already heard about.

After that, whatever is left will go through an actual bankruptcy with an appointed judge.

Creditors and shareholders will be flaming mad and may sue, because they are getting the royal purple shaft, but there is nothing they can do against the admin juggernaut, imo.
Click to expand...

That is their own damn fault. They wanted to be greedy and now as far as I'm concerned now can bend over and take it. I don't like this bankruptcy one bit, especially considering I have family members who work for Chrysler. But honestly FVCK those greedy pig creditors/hedge managers etc.
Click to expand...

Maybe the creditors also owned bunch of CDS and wanted Chrysler to bankrupt. Similar to how Kirk Kerkorian recently bought couple $ billion worth of CDS on his MGM Mirage holding and now wants MGM to declare bankruptcy so he can collect his billions.
 
That is their own damn fault. They wanted to be greedy
Click to expand...

I never even heard anyone suggest that they were trying to be greedy.

Many of these creditors are parts suppliers who extended credit to Chrysler. A lot of credit for parts. We're not just talking about bankers.
Many of these companies have nothing to do with any greedy lenders.

How can you be greedy when you weren't even part of the negotiations?

Why are there negotiations about who gets what before a bankruptcy?

How can negotiations made by selected parties prior to CH11 be valid after CH11?

When will we hear from the CH11 bankruptcy judge?

 
Same week as we are seeing all these concepts introduced in Shanghai. Very symbolic. Chrysler should be liquidated, it's giving all American cars a bad name. Jeep and Dodge truck business should be sold off, but there isn't really a good reason for Chrysler passenger cars to disgrace America's streets.
 
Originally posted by: LTC8K6
This will not be a normal bankruptcy with a bankruptcy judge though, will it?

Not an actual bankruptcy, but a Treasury managed one that keeps the deals mentioned earlier.
Click to expand...

It would appear things are going in that direction, but things are a LONG way from over regarding this. Playing topsy turvy with BK laws may not be as easy as it appears unless the Administration is bold enough to completely circumvent the process.

 
Originally posted by: senseamp
Same week as we are seeing all these concepts introduced in Shanghai. Very symbolic. Chrysler should be liquidated, it's giving all American cars a bad name. Jeep and Dodge truck business should be sold off, but there isn't really a good reason for Chrysler passenger cars to disgrace America's streets.
Click to expand...

Ditto...
Fvucken die already...
All of the Doge Calibers and stuff...
 
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