It looks like the Obama administration will print $8 Billion Barack Bucks and use Fiat to save Chrysler. Remember Yugo? Guess who designed the car? The "Yugo" was an old Fiat 128 when it first rolled off the assembly line that produced the now extinct Yugo. The defunct factory is now owned by Fiat. Fiat and Fiat money. A marriage made in Washington, or Serbia. Engineering good enough for Zastava Koral should be good enough for the buying public. Hope, Change, Yugo.
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7 comments:
Hugh,
Go tell them to buy a honda civic, copy it, slap a chrysler sticker on it, and your back in business. No more Sebring's!
Hmmmm... A car for every family?
Didn't someone else have this concept some time around WWII?
Oh yeah, right. Good Old Adolf and his Community Military Squad... Looks to me like Obama bin Laden is doing a great job following in the footsteps of his presidential predecessors.
If you still have stock in GM or chrysler, dump it fast. The only cars they are going to be selling are the mandatory purchases by US govt agencies. No profits. No dividends.
There was no stock in Chrysler. It was a closely held company and the investors had created a LLC front for all of it's operations.
There will be stock in Chrysler after the Bankruptcy is over, and there will be a new company. Whether or not it will be traded openly is another question.
Well that is interesting. I had just assumed, the way it was being run, that typical corporate hacks were running it, in the mold of a publicly traded company.
"Typical Corporate Hacks?" You'll have to define that, since it is in my mind a more flowery version of "them.'
By way of definition, I mean the mentality of modern boards of directors and company executives who did not build the company and so do not have an ownership mentality. Thier compensation is based on getting as much as they can for themselves before they move on and someone else just like them moves in.
I have noticed a distinctly different mentality from company owners and those with a long term emotional attachment to the business.
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