Joe Miner Posted January 9, 2009 Share Posted January 9, 2009 http://www.msnbc.msn.com/id/28547537/ Things were so bad last year that a single Toyota model, the Camry/Solara midsize car, outsold the entire fleet of Chrysler LLC’s passenger cars. Chrysler’s chief financial officer has said the company needs $7 billion every 45 days to pay parts suppliers, and analysts question whether the company’s meager sales are generating enough cash to make those payments. Chrysler CEO Robert Nardelli, in a presentation to the Senate Banking Committee last month, said the company could stay alive in the long term with reasonable concessions, a $7 billion bridge loan and $6 billion more out of the $25 billion Congress allocated to develop new fuel-efficient technology. The Bush administration provided a $4 billion loan. Now, Chrysler is counting on an additional $3 billion in aid for its financing arm, Chrysler Financial. This is less about whose fault it is that Chrysler is going under (management, unions, economy, etc...), and why we think giving them $4 billion now and possibly another $3 billion in a few months is gonna do anything. Link to comment Share on other sites More sharing options...
finknottle Posted January 9, 2009 Share Posted January 9, 2009 This is less about whose fault it is that Chrysler is going under (management, unions, economy, etc...), and why we think giving them $4 billion now and possibly another $3 billion in a few months is gonna do anything. To put it in human terms, that's $3,000 from each of us for the R&D and Chrysler Finance, and another $2,000 'loan' on top of the existing $1,000 'loan.' All just to stave off the inevitable for a few months. That assumes all 300 million of us pay taxes and contribute equally, of course. Otherwise your bill is much higher. Now let's see what you can do for Foird, GM, and the UAW. Link to comment Share on other sites More sharing options...
BuckyFillUps Posted January 9, 2009 Share Posted January 9, 2009 Time to buy that new Ram1500 i want. frick, they are practically selling them BOGO right now!!! Link to comment Share on other sites More sharing options...
PastaJoe Posted January 9, 2009 Share Posted January 9, 2009 My last two vans have been Dodge/Chrysler. I think they make the best vans, much better than the Ford I used to have. Link to comment Share on other sites More sharing options...
Kevbeau Posted January 9, 2009 Share Posted January 9, 2009 I still don't understand why the went after/and overpaif Nardelli, who pretty much screwed Home Depot up. Link to comment Share on other sites More sharing options...
bills_fan_in_raleigh Posted January 9, 2009 Share Posted January 9, 2009 I still don't understand why the went after/and overpaif Nardelli, who pretty much screwed Home Depot up. Plus I am sure they gave him a great executive comp program so that when he leaves or is chased out gets a 40M$ parting gift. Link to comment Share on other sites More sharing options...
bills_fan Posted January 13, 2009 Share Posted January 13, 2009 My last two vans have been Dodge/Chrysler. I think they make the best vans, much better than the Ford I used to have. No complaints on my Jeep Wrangler, I love it. Link to comment Share on other sites More sharing options...
RLflutie7 Posted January 15, 2009 Share Posted January 15, 2009 I still don't understand why the went after/and overpaif Nardelli, who pretty much screwed Home Depot up. Because he removed half the staff at home depot to save money. He cuts labor costs to the bare bone. Link to comment Share on other sites More sharing options...
Kevbeau Posted January 15, 2009 Share Posted January 15, 2009 Because he removed half the staff at home depot to save money. He cuts labor costs to the bare bone. If that's the only qualification, you can get a hatchet man for a lot less than what they pay/paid him. Now, he doesn't bear sole responsibility, but Home Depot is still trying to undo some of Nardelli's "Strategy." Link to comment Share on other sites More sharing options...
RLflutie7 Posted January 16, 2009 Share Posted January 16, 2009 If that's the only qualification, you can get a hatchet man for a lot less than what they pay/paid him. Now, he doesn't bear sole responsibility, but Home Depot is still trying to undo some of Nardelli's "Strategy." And I would agree with you. His only claim to fame was to cut labor costs and anyone can do that. Link to comment Share on other sites More sharing options...
buckeyemike Posted January 17, 2009 Share Posted January 17, 2009 I love my Dodge Avenger, but as I noted here after I bought it in November: my wife and I were the only persons in the dealership that evening from the time we arrived at 7:30. I know Chrysler's doing terribly; I just pray they don't go under. Link to comment Share on other sites More sharing options...
RayFinkle Posted January 20, 2009 Share Posted January 20, 2009 Chrysler Aspen owner here. I only buy Dodge/Chrysler...MOPAR BABAY! Link to comment Share on other sites More sharing options...
sweet baboo Posted January 20, 2009 Share Posted January 20, 2009 My last two vans have been Dodge/Chrysler. I think they make the best vans, much better than the Ford I used to have. You state that you think they make the best vans and then state that you've only compared them with Ford clunkers. There's a disconnect here. Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted January 21, 2009 Share Posted January 21, 2009 Fiat bought in 30% or so. F= Fix I= It A= Agian T= Tony Link to comment Share on other sites More sharing options...
finknottle Posted January 21, 2009 Share Posted January 21, 2009 Fiat bought in 30% or so. Interesting choice of words. Fiat is paying essentially nothing for the 30% stake. What's in it for Chrylser is that by agreement they can start selling Fiat's small cars, and get access to Fiat's distributors overseas. Let's recap: Congress gives Chrysler a temporary $4 billion dollar 'loan.' This tides them over long enough to give away a third of the company. AFAIK, Fiat assumes no liability on that debt - they are just shareholders. Chrysler will be in loan default if they cannot get the UAW to renegotiate by some date in a month or so. Suppose the UAW rolls over - a big if. Chrysler stills owes the money, and now needs a new $8 billion bridge loan to keep them afloat until they start making money importing those Alpha Romeo's. Or gives away more of the company. Or gets another bridge loan. Good thing they didn't go into Chapter 11! But heck, this is just a practice run. Let's see what Ford and GM do with our money, and how much more Congress gives them before washing their hands of the mess. Link to comment Share on other sites More sharing options...
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