Chrysler and tax dollars???

[grizzaholic]

I am not all up on current events of the economy but didn't the Govt. give Chrysler a bunch of money and they went bankrupt anyway? So......if that is true....did the Govt. just throw those billions down the drain twice?

[Wedgebuster]

Chapter 11 is the only avenue open for any chance for the recovery of taxpayer dollars being repaid. Not saying it is going to turn out sweet, but at least there is still a chance.

[ASUMountaineer]

Well, bankruptcy was an option before the government gave Chrysler our money (or printed money to give them). Choosing to throw money at the situation in the first place versus a "fake" bankruptcy (which is what's happening now) was throwing our money away. At this point, Chrysler could be on the verge of emerging from bankruptcy and we'd have a lot better idea of whether or not Chrysler could be viable. Instead, we still do not know if Chrysler will be viable, if not we can't recoup the money already thrown at Chrysler, and GM still has yet to be determined if it's bailout will be in vain too. What a stupid situation the previous and current administrations have put us in--and Congress.

[AZGrizFan]

Now Chrysler & GM announce they're closing a combined 3,200 dealerships over the next 2 years.

[Cap'n Cat]

Now Chrysler & GM announce they're closing a combined 3,200 dealerships over the next 2 years.

"So, if you bomb San Diego first, you're only this far from Los Angeles."

[OL FU]

Chapter 11 is the only avenue open for any chance for the recovery of taxpayer dollars being repaid. Not saying it is going to turn out sweet, but at least there is still a chance.

It is interesting that the original argument for giving them money was to keep them out of bankruptcy and the argument against giving them money was that their solution was for them to file bankruptcy.

[Wedgebuster]

Ain't no expert on big company finances, but I suppose anybody here can tell that.

As for Chrysler, all they ever built was junk IMO, but plenty of folks around here are driving those huge pickups.

GMC, on other hand, built some very quality trucks and suvs. So, I have to guess that what kind of junk either company was building was not the entire story on their now pitiful company health.

Go figure.

[OL FU]

Ain't no expert on big company finances, but I suppose anybody here can tell that.

As for Chrysler, all they ever built was junk IMO, but plenty of folks around here are driving those huge pickups.

GMC, on other hand, built some very quality trucks and suvs. So, I have to guess that what kind of junk either company was building was not the entire story on their now pitiful company health.

Go figure.

Read an interesting article on Ford today in the WSJ. Praised them for their ability to survive but also stated that they would probably be a big disadvantage after Chrysler and GM come out from bankruptcy. Ford made the decision to make good on their debt and will still have it when Chryslers and GMs will be gone.