Chrysler Bankruptcy May 1

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Keith Mopar

Keith Mopar

Mopar Nut
Joined
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Dam I just read this on allpar,

All I can say is I hope this isn't true.


According to Reuters, Arthur Gonzalez, one of the nation’s most experienced bankruptcy judges, will oversee the bankruptcy proceedings for Chrysler. He handled both Enron and WorldCom’s bankruptcies simultaneously; he has a favorable reputation and considerable experience in high-profile cases. The sale of key assets to the Treasury is expected to come very soon in the case, with other decisions possibly continuing for many months. The first hearing is due tomorrow morning.


Read More : http://www.allpar.com/news/
 
I Work At A Dealership And Our Owner Had A Meeting With Us Today To Explain The Whole Deal, The Type Of Bankruptcy That Is Being Filed Is Called A 3-6-3 Bankruptcy, Or Something Like That, Aparently If It Works As Planned Chrysler Should Come Out Stronger Than They Ever Were, Anyways We Were Also Told That Chrysler Financial And Gmac Are Now One Entity. And Bob Nardelli Stepped Down On His Own... But Will Be There For 6 More Months Til Everything Gets Sorted Through! By The Way The Fiat Thing Is A Sealed Deal Too... Yippie(not)
No A Bodie But Wanting And Trying To Convince The Wife!
Also Excellent Site You Got Here, I Can Spend Hours Just Reading All The Posts Here.
 
FOREVERAFAN said:
I Work At A Dealership And Our Owner Had A Meeting With Us Today To Explain The Whole Deal, The Type Of Bankruptcy That Is Being Filed Is Called A 3-6-3 Bankruptcy, Or Something Like That, Aparently If It Works As Planned Chrysler Should Come Out Stronger Than They Ever Were, Anyways We Were Also Told That Chrysler Financial And Gmac Are Now One Entity. And Bob Nardelli Stepped Down On His Own... But Will Be There For 6 More Months Til Everything Gets Sorted Through! By The Way The Fiat Thing Is A Sealed Deal Too... Yippie(not)
No A Bodie But Wanting And Trying To Convince The Wife!
Also Excellent Site You Got Here, I Can Spend Hours Just Reading All The Posts Here.
Click to expand...
Welcome to the site FOREVERAFAN. Hope you find an A-body, wife willing.
 
This is probably the best plan. If they kept struggling along taking government money they would end up being owned by the governemnt and the only cars they would be allowed to make would be useless hybrids that noone wants so we the taxpayers would just keep pouring money down the rat hole to keep the union members employed. This way Mopar can get out from under the onerous labor contracts, reorganize their dealer network and coem out on top. GM if they were smart would run not walk in the same direction.
 
jkeck55 said:
This is probably the best plan. If they kept struggling along taking government money they would end up being owned by the governemnt and the only cars they would be allowed to make would be useless hybrids that noone wants so we the taxpayers would just keep pouring money down the rat hole to keep the union members employed. This way Mopar can get out from under the onerous labor contracts, reorganize their dealer network and coem out on top. GM if they were smart would run not walk in the same direction.
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Exactly, GM will be seeing it's last days of performance cars. I hope everyone enjoys their Camaro's because they're not going to return under the governments control...
 
FOREVERAFAN said:
I Work At A Dealership And Our Owner Had A Meeting With Us Today To Explain The Whole Deal, The Type Of Bankruptcy That Is Being Filed Is Called A 3-6-3 Bankruptcy, Or Something Like That, Aparently If It Works As Planned Chrysler Should Come Out Stronger Than They Ever Were, Anyways We Were Also Told That Chrysler Financial And Gmac Are Now One Entity. And Bob Nardelli Stepped Down On His Own... But Will Be There For 6 More Months Til Everything Gets Sorted Through! By The Way The Fiat Thing Is A Sealed Deal Too... Yippie(not)
No A Bodie But Wanting And Trying To Convince The Wife!
Also Excellent Site You Got Here, I Can Spend Hours Just Reading All The Posts Here.
Click to expand...

Yea I just read this:

Dear Chrysler Employees:

This is a historic day for Chrysler. As a result of the comprehensive restructuring plan agreed to by many of our stakeholders, I am very pleased to report that Chrysler LLC and Fiat S.p.A. have reached an agreement in principle to establish a global strategic alliance. This agreement creates a new, competitive, global car company that will take over a majority of Chrysler’s operations. With the completion of this alliance, Chrysler will be repositioned for long-term success, validating the great efforts and sacrifices that you have made to help us get to this momentous point

Will they sell FIAT's in north america now?

I don't know if I can ever like a FIAT!!
 
Well in Canada part of the deal was that all Canadians now own a 2% share of Chrysler....hey I own a car company...coooool. I know it is about saving jobs but I would hate to see name do down the toilet..that would be a sad day.
AL
 
73Scamp318 said:
Like my dad told me, "It's easier to beg forgiveness than ask permission."
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That's how I got mine....just showed up one day with it on the trailer. She actually wasn't that mad, she got over it quick. I think she'd have gotten over it quicker had it not been a project and could've been driven. Then she sat quietly in the truck while I bought another "for parts". And she wasn't too mad when I brought another one home "for parts". Give it a try, what have you got to lose....lol
 
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