Chrysler Worse Than Thought

1989TransAm · Post by **1989TransAm** » Wed Sep 16, 2009 4:27 pm

According to this story Chrysler is in worse condition than Fiat thought. Does this mean more bailout money? Here is a link to the article.

http://money.cnn.com/2009/09/16/autos/f ... tm?cnn=yes

IMHO both Chrysler and GM should have filed for bankruptcy long ago.

Ron E · Post by **Ron E** » Wed Sep 16, 2009 9:22 pm

Yes. Everything is "worse than the Obama administration thought" The inherited economy, the lag in unemployment recovery, Afghanistan, everything! One very informed and well prepared bunch, wouldn't you say?

DCK · Post by **DCK** » Wed Sep 16, 2009 10:05 pm

Ron E wrote:Yes. Everything is "worse than the Obama administration thought" The inherited economy, the lag in unemployment recovery, Afghanistan, everything! One very informed and well prepared bunch, wouldn't you say?

Hey that sounds familiar...fade to Jan '92 and Bill Clinton addressing congress, lol. In summary, Things are worse than we thought, now we have to retroactively raise your taxes.

Unkl Ian · Post by **Unkl Ian** » Wed Sep 16, 2009 11:16 pm

So this guy signed a big merger deal,
but "didn't know how bad things were".
And people believe him.

He is laying the ground work to clean house,
layoff thousands, and shut down factories.

"Industry analyst Todd Turner of Car Concepts Automotive Research, speaking from the floor of the Frankfurt Motor Show, found it difficult to believe Marchionne's assertion that he didn't know how little work had been going on at Chrysler. "

"I'm a little surprised that he was surprised," he said."

"Fiat did not invest any cash into Chrysler and, Marchionne told reporters, does not plan to do so now. He said he hopes no outside investment will be needed as part of the new restructuring, according to Automotive News."

Yeah, right. You are going to turn around a huge corporation,
without spending any money. Great idea.