Chrysler Files for Bankruptcy Protection

Chrysler filed for bankruptcy protection and announced it will temporarily halt most of its vehicle production while it completes a deal with Italian carmaker Fiat designed to revive its tattered fortunes. (April 30)

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News & Politics

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• chrysler
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• bankruptcy
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[Ian74263]

Man, I cant believe that they're even still in business... And I'm a Chrysler fan. They're like people with colds, they get so many they get immune. Except for that the Colds were Bankruptcies. You know what I never knew, I never knew that Chrysler bought Lambourghini in 1987... I was very suprised.

[dodgechryslersucks]

Too bad Chrysler has screwed over and pissed off so many people, comes back to bite them!

[oFamous1]

Here I'll send you a link to the Wall Street Journal.

Our president is circumventing property law to pay back his constituents.

[benympls]

those asrent the numbers i read, whats your source on these? because if that is the case i'd like to read about why that would be done, and if what your saying is true thats fucked up. I still think your over simplifying things and from what i read the excutives werent blaming the union(at least not in GM's case) and were saying that they were being cooperitive witch if they werent the excutives would jump at the chance to shed the UAW forever, where is your info coming from?

[oFamous1]

...continued.

Chrysler will be liquidated if the unions are put in control of the company. It is outlandish that they get a majority stake in the company.

Furthermore, you don't know your ass from a hole in the ground about property rights, the constitution or business in general.

Bondholders-receiving 30 cents on the dollar for SECURED credit.

UAW-receiving 50 cents on the dollar for UNSECURED credit.

My analogy earlier was spot on.

[benympls]

oh well this is the one where you sound like a texas whack job but why is it that when companies do well its always to the credit of the CEO but when their failing its everybody else fault?! i'm sorry but i'm a really capitalist and by the same logik that they deserve higher pay/bonuses for when things go well then its also on their shoulders when they fail! No matter what they were in control of chrysler, they were picking the cars design that have steadily gone down so whos fault else wld it b

[oFamous1]

Look asshole...I have worked in dozens of auto plants and know exactly what goes on between the unions and management. Take your blanket assumptions and shove them up your ass.

The union never polices their own people, extorts companies to the point that they become insolvent, and then wonders why the company is in shambles.

One last thing, the bondholders provided the company with secured capital that the government is trying to erase.

[benympls]

uh the unions bought into the company as investors because the company is worthless and they were the only ones with capital to do so. Unions take union dues and invest the money so that they can fund lawyer fee's and other expenses, i dont think you quite know how unions operate but i'm sure fox news can tell you about how unions work with the UN and their black helicopters LOL! seriously you sound like a texas doomsday whack job.

[benympls]

i ran out of space before i knew you would say that but what yu little people on the right dont realize is that even though our corprate taxes are "2nd highest in the world" we're the only country that has endless tax loop holes and write off's, other countries have ZERO write off's so although by the numbers their taxes seem lower but in reality what people pay is the same or higher than us. Our tax code is a game they set it VERY high but no one pays that high amount and then yell about it.

[oFamous1]

....to continue. This is akin to paying off 90% of your home, missing a payment, and the president swooping in to tell you that you own 10% now. The kid who cuts your lawn owns 55%.

It's fucked up.