Is Chrysler Doomed?

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Demon416

Demon416

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I just Read This....DETROIT (Reuters) – The Treasury is preparing a Chapter 11 bankruptcy filing for Chrysler LLC that could come as soon as next week NewYork Times reported on Thursday, citing people with direct knowledge of the matter.
The Treasury has an agreement in principle with the United Auto Workers union to protect pensions and retiree health care benefits as a condition of the bankruptcy filing, the paper said.
Italy's Fiat would finalize its alliance with Chrysler while the U.S. is under bankruptcy protection, the paper reported.
Chrysler has until April 30 to complete its partnership with Fiat and win concessions from its first-lien lenders and the UAW, or face a cut-off of government funding and a potential bankruptcy.
The Times said U.S. and Canadian governments were prepared to provide the financing that Chrysler needed to operate while under bankruptcy protection.
Chrysler was not immediately available for comment.
(Reporting by Soyoung Kim, editing by Leslie Gevirtz)
 
wouldnt supprise me right now with the condition of everything going on, chryslers not doing good right now. Im not going to be very happy at all if they do, the only reason i bought my 08 avenger is because of the lifetime powertrain warranty.....that will be no good if they go bankrupt.
 
Now just read this. WASHINGTON (Reuters) – The Obama administration remains focused on bringing Chrysler and Fiat into a working partnership, a U.S. official said on Thursday, dismissing a news report that the U.S. car-maker faced imminent bankruptcy.

"In a negotiation like this, everything is speculation until there's a deal. It should surprise no one that the administration is planning on contingencies, but we remain focused on the goal and engaged with all stakeholders to bring Chrysler and Fiat to a working partnership," the administration official said.

(Reporting by Ross Colvin)

Jeez, which is it? Can't anyone report the news correctly anymore? :angry3:
 
Good times for buying a new mopar, cheap. But God knows the future of Chrysler, therefore our guarantees and parts.
 
Not really Dodge already stopped making new Durango's and my wife went buy there today to see if they had any kind of rebate. Nodda nothing, so now my wife is over at the Ford dealer looking at an Exploder, what do you expect for 12k off even before negotiations.
 
It kinda sounds like it is, reading some of the articles going around it sounds like Fiat is going to back out of the deal.
 
In a tough position, yes. Doomed, no. Everything will turn around eventually.... everything imbetween is just going to have to be taken as it comes.
 
I hope Chrysler doesn,t go bancrupt!Alot of people in my area work for the Auto industry,me for one.I work at the Ford plant in Oakville making(Edge,MKX,Flex and new MKT)we were scheduled for 1 week layoff per month,but they have cancelled most of them!Orders are up,we also re-structured years ago and have given up alot over the years just to stay running.Hope nothing happens to retirees pensions.They busted their balls to have it!
 
I agree their retirement should always be safe. It would be like me doin 20 years for the Army and then the Gov. says oh sorry no money for you. That would be horrible for you guys in the Auto. Industry
 
People are saying that the warranties will be good for sure and they also don't expect Chrysler to just die. Its not a good thing they are going bankrupt but it doesn't mean its the end of Chrysler.
 
pettybludart said:
I hope Chrysler doesn,t go bancrupt!Alot of people in my area work for the Auto industry,me for one.I work at the Ford plant in Oakville making(Edge,MKX,Flex and new MKT)we were scheduled for 1 week layoff per month,but they have cancelled most of them!Orders are up,we also re-structured years ago and have given up alot over the years just to stay running.Hope nothing happens to retirees pensions.They busted their balls to have it!
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Not sure what Ford did right but they seem to be in the best shape of the big three by far. Looks like GM and Chrsyler have some tough times ahead of them but we'll see how it all shakes out.
 
I know this will come out wrong but I hope they go bankrupt. They can get rid of everything that is keeping them from making a profit. I don't they will go out of business. I think they still have the product that America wants and my next one will be a Dodge. The management all needs to be fired. The employees need to help by accepting lower wages ( don't touch retirement benefits). I feel if a company is looking like it will fail is not a good time to ask for a raise. I worked for a non union auto company and was paid very well. Dodge will have more freedom to trim the fat in bankruptcy then with TARP money. My .02
 
You know, I hate to sound like a gloomy gus, but my Dad-in-Law lost his entire pension fund from a place called Bauder Oil because someone pilfered it.....they then went belly up..........Another company named Agway bought it out and began another pension fund. He continued working until the age of 65 to build up something there, and THEY filed bankruptcy........Again, no pension.......He gave up and moved to Florida where they lived comfortably on his wife's small pension from Life-Savers Inc. and their SS checks.

I have JUST SO MUCH sympathy for people who lose some of their pensions..........Do you know how much the auto workers have made compared to other blue collars in this nation? WHY shouldn't they take cuts in their pensions ?? Millions of people have LOST their ENTIRE NEST EGG due to this debacle............. For cryin out loud, they are NOT a special class of citizen!!

Aren't we all in the same boat ?? Why, as a taxpayer, should I have to guarantee payment of an Auto-Workers pension ??????? I'VE NEVER EVEN ENJOYED A NEW CAR......I HAVE NO PENSION AT ALL...........For the Love of God, HAVE WE ALL GONE SOFT IN THE HEAD ?????????????????????????

(No apologies....I believe this rant is justified). :protest::director:
 
I agree pastortom1, it's the way the pensions were setup that is the bad thing. If they were all 401k's, mutual funds, etc. the money would still be there. Social Security should be gone too, but that's another thread.
 
Does going bankrupt mean that Chrysler will go away? Alot of companies seem to go bankrupt but in the end they still exist. I think it all depends on the terms of bankrupcy, like whether or not they have to sell off all their assets or if they are just telling all their creditors to go pack sand.
 
If they file for Chapter 11 protection they can sell off some assests, reduce there outstanding debt and reorganize, possibly coming back as a stronger company, if that doesn't work or if the filing is Chapter 7 then they must sell all there assests and there done. I believe they will file for Chapter 11 protection by April 30 but if the markets don't improve then Chapter 7 will follow shortly after.
 
I'm an American and I'm a Patriot......BUT, I'll state this for the record:

If Chrysler goes UNDER, the fault will lie on the doorstep of the UNIONS.

I watched helplessly many years ago as Life-Savers Corp. in NY had to deal with the sky high wages and demands of the Confectioneries Workers Union local..................They took all they could............then when Mexico opened up, they took off.......lock, stock and jobs........left the place high and dry.......

Many workers were forced into early retirement, others just lost their shirts....all the jobs went south of the border in new factories with cheap labor......they even sent NY workers there to TRAIN the Mexicans and set up the machines.

Needless to say, there ain't much use for the Union up there any more.....or it's workers who kept fighting for MORE and MORE and MORE..........

I AM for Unions.........but I'm NOT for GREED and DESTRUCTION.

The auto workers unions have been just plain GREEDY and wasteful.......and now, the chickens have come home to roost. NOW, we'll have very little or nothing left of the true American automobile.
 
dusted72 said:
I agree their retirement should always be safe. It would be like me doin 20 years for the Army and then the Gov. says oh sorry no money for you. That would be horrible for you guys in the Auto. Industry
Click to expand...

Now that you mention that, don't think your analogy won't happen to soldiers either.
Obama already kicked around the idea of cutting healthcare for returning veterans until it seeped out into the media and the public got real pissed real quick, but it will happen because they have their foot in the door and don't think it's not coming down the pike.
Remember, Janet Napolitano, and the depatment of Obamaland security thinks soldiers returning from battle are now deemed domestic terror threats as well as right wing radicals.

No *****, they just have patriotic values and fought for freedom, while your Muslim president pile of pig vomit pukes all over our freedoms those men and women fought for and now their commander in chief holds them in contempt while coddling the enemies they fought against.
What a scum sucking pile of spineless camel carcass.

If these are not reasons for people being pissed off, I don't know what is, and don't think for a minute this was not the government's plan in the first place.
 
pastortom1 said:
I'm an American and I'm a Patriot......BUT, I'll state this for the record:

If Chrysler goes UNDER, the fault will lie on the doorstep of the UNIONS.

I watched helplessly many years ago as Life-Savers Corp. in NY had to deal with the sky high wages and demands of the Confectioneries Workers Union local..................They took all they could............then when Mexico opened up, they took off.......lock, stock and jobs........left the place high and dry.......

Many workers were forced into early retirement, others just lost their shirts....all the jobs went south of the border in new factories with cheap labor......they even sent NY workers there to TRAIN the Mexicans and set up the machines.

Needless to say, there ain't much use for the Union up there any more.....or it's workers who kept fighting for MORE and MORE and MORE..........

I AM for Unions.........but I'm NOT for GREED and DESTRUCTION.

The auto workers unions have been just plain GREEDY and wasteful.......and now, the chickens have come home to roost. NOW, we'll have very little or nothing left of the true American automobile.
Click to expand...
You can,t blame it on the Union or the workers,7% of the cost of a vehicle goes to the worker.This leaves the company with 93%.I think it,s poor company management.I know first hand that WE at Ford in Oakville have been giving back since 2001 when they closed our truck plant and threatened to close ALL operations in Canada.Also Ford didn,t take any loan/bailout money and restructured way before the economy took a dump.Has G.M sold of any of their other projects to stay afloat?NO!You can,t blame this on the workers,I,m just like you and want to earn a decent living!I started 22 years ago at $12.63/hr,I guess I,m not entitled to a raise?Which have been at the minimal for the past 10 years.
 
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