Chrysler Loans forgiven

[StageLeft]

Considering unemployment is higher now than it was six months ago, I wait with bated breath on how Chrysler going bankrupt then would have been a catastrophe but now isn't such a big deal. Other than arguing sentiment (i.e. people were already so panicked, to make it worse would have been dreadful), I don't see any quantifiable justification for that stance.

 

[brandonbull]

Originally posted by: Arkaign

Originally posted by: ProfJohn
$7.7 billion to provide 58,000 people with jobs for 6 months???

Maybe we should have closed the company and just sent each employee a check. Might have been cheaper in the long run.

lol, I just ran the calculations, in the numbers that came back : $7.7 billion would give each of the 58,000 $51,061 a WEEK for 6 months. In fact, that's so much damned money, that you could give each employee over $4,400 a month for TEN YEARS.

I know there's overhead, but JFC on a Popsicle stick.

$51061 * 58000 * 26 != $7.7 billion. You must be one of B-Rock's "number crunchers".

 

[Budmantom]

Originally posted by: Fear No Evil
I swear Obama is going to start bombing Iran and the libs of this forum will be calling it a stimulus program for the military fully supporting it.

Not far from the truth.

 

[nakedfrog]

This blows.

 

[ShockwaveVT]

Did you guys not see the part about the 8% equity stake that the U.S. Treasury will have in Chrysler?

$7.2 billion for 8% of the company values it at approximately $90 billion overall. Seems a bit high to me, but I'm not really up on my automaker values, perhaps someone else can chime in with Chrysler's market cap or asset valuation.

 

[sactoking]

Originally posted by: ShockwaveVT
Did you guys not see the part about the 8% equity stake that the U.S. Treasury will have in Chrysler?

$7.2 billion for 8% of the company values it at approximately $90 billion overall. Seems a bit high to me, but I'm not really up on my automaker values, perhaps someone else can chime in with Chrysler's market cap or asset valuation.

Not 100% sure, but maybe 95% sure that's not publicly known at this point. Chrysler is a closely-held corporation and not subject to public disclosures.

As a comparison, GM on 12/31/08 had a balance sheet deficit of $86,154,000,000 and market cap of $2.16 billion. I highly doubt Chrysler is worth 41.67 x GM (in terms of market cap) even in GM's current state.

 

[evident]

thank you fucking chrysler supporters who were for it. never buying gm/chrysler ever.

 

[Budmantom]

Originally posted by: evident
thank you fucking chrysler supporters who were for it. never buying gm/chrysler ever.

What the hell is wrong with you, Obama motors makes some of the greenest vehicles around, these are American brands brought to you and backed by the current administration and paid for by your tax dollars.

 

[OCGuy]

Originally posted by: Budmantom

Originally posted by: evident
thank you fucking chrysler supporters who were for it. never buying gm/chrysler ever.

What the hell is wrong with you, Obama motors makes some of the greenest vehicles around, these are American brands brought to you and backed by the current administration and paid for by your tax dollars.

Somewhere, Hugo Chavez is smiling right now.

 

[JeffreyLebowski]

Originally posted by: eskimospy

Originally posted by: Saga
I really wish some of this government spending would finally go to the people directly and not through proxy.

You want direct democracy? That's an awful idea. There's a reason why no country on earth does it that way.

Fail at reading comprehension. He said the money should go to the people, ie the citizens, not to the companies.

It's a real easy concept. People have money, people spend money, company gets money when people spend it to buy said companies products. Everyone wins.

 

[Budmantom]

Originally posted by: OCguy

Originally posted by: Budmantom

Originally posted by: evident
thank you fucking chrysler supporters who were for it. never buying gm/chrysler ever.

What the hell is wrong with you, Obama motors makes some of the greenest vehicles around, these are American brands brought to you and backed by the current administration and paid for by your tax dollars.

Somewhere, Hugo Chavez is smiling right now.

Master & Grasshopper

 

[evident]

Originally posted by: Budmantom

Originally posted by: evident
thank you fucking chrysler supporters who were for it. never buying gm/chrysler ever.

What the hell is wrong with you, Obama motors makes some of the greenest vehicles around, these are American brands brought to you and backed by the current administration and paid for by your tax dollars.

its not obama or bush, its all these idiots who have stupid nostalgia for american cars from the 60s who can't think about the big picture, who think you're a terrorist if you dont drive these shit cars.

 

[ebaycj]

Originally posted by: Arkaign

Originally posted by: ProfJohn
$7.7 billion to provide 58,000 people with jobs for 6 months???

Maybe we should have closed the company and just sent each employee a check. Might have been cheaper in the long run.

lol, I just ran the calculations, in the numbers that came back : $7.7 billion would give each of the 58,000 $51,061 a WEEK for 6 months. In fact, that's so much damned money, that you could give each employee over $4,400 a month for TEN YEARS.

I know there's overhead, but JFC on a Popsicle stick.

your numbers are high by a factor of 10. you did 77 billion instead of 7.7.

 

[Jeff7]

I've got some student loans that they could forgive, too.

 

[Andrew1990]

Time for me to start a fake, I mean "real", auto company. Then I can ask for a Bailout for 100M and live off of it for years.


Thank You to the current administration for the job well done. I am sure that there was nowhere else this money could have went. Except maybe sending the current administration to a University to learn some common sense....

 

[zephyrprime]

Yeah, this stuff really stinks. If we just took the billions of dollars and put it into a new venture firm owned by the gov, they could probably buy up chrysler's usefull assets for that much money and start a new card company completely unhindered by the bad management and union of the current chrysler. That'd probably be more economically effective.

 

[boomerang]

It's going to get worse. My guess is that the bankruptcy will be completed and Fiat will sell off what's left at bargain prices and head home. Seeing how they have next to nothing in this deal, it will pretty much be pure profit.

It's kind of ironic that a major mistake by GM is in a sense helping fund the Fiat acquisitions. For those that don't know, GM bought an option to buy Fiat, then at the eleventh hour decided to pass. The contract between them obligated GM to pony up $2 Billion. Which they did.

 

[thegimp03]

Originally posted by: ShockwaveVT
Did you guys not see the part about the 8% equity stake that the U.S. Treasury will have in Chrysler?

$7.2 billion for 8% of the company values it at approximately $90 billion overall. Seems a bit high to me, but I'm not really up on my automaker values, perhaps someone else can chime in with Chrysler's market cap or asset valuation.

Yeah no kidding it's high. Daimler paid $36 billion for Chrysler 10 years ago and the company is even shittier now.

 

[cumhail]

What might be amusing, if it weren't so damned disgusting, is that some of the same people who were arguing that the bailouts were necessary because we cannot allow the US auto industry to fail are now the loudest in condemning them.

 

[Ktulu]

Originally posted by: evident

Originally posted by: Budmantom

Originally posted by: evident
thank you fucking chrysler supporters who were for it. never buying gm/chrysler ever.

What the hell is wrong with you, Obama motors makes some of the greenest vehicles around, these are American brands brought to you and backed by the current administration and paid for by your tax dollars.

its not obama or bush, its all these idiots who have stupid nostalgia for american cars from the 60s who can't think about the big picture, who think you're a terrorist if you dont drive these shit cars.

Funny that you're mentioning people being stuck in the 60's, you seem to be stuck in the 80's/90's as are most people unfortunately. The domestics have made gigantic improvements in quality, reliability, fuel economy and styling in the past 5 years or so. Although i'm afraid it might be too little too late.

 

[EXman]

Originally posted by: thegimp03

Originally posted by: ShockwaveVT
Did you guys not see the part about the 8% equity stake that the U.S. Treasury will have in Chrysler?

$7.2 billion for 8% of the company values it at approximately $90 billion overall. Seems a bit high to me, but I'm not really up on my automaker values, perhaps someone else can chime in with Chrysler's market cap or asset valuation.

Yeah no kidding it's high. Daimler paid $36 billion for Chrysler 10 years ago and the company is even shittier now.

do we know how much Diamler sold Chrysler/dodge for?

btw who didn't think the word "loan" was a PC way of saying "Grant?" no one really thought we get that money back I hope.

 

[TheSlamma]

Originally posted by: miketheidiot
7 billion was worth not having chrysler go bankrupt 6 months ago.

Why cause we really need Durango's? 300's? PT Cruisers? what other useless junk do we need that only helps out short men who can't afford the step up to a euro phallic symbol?