Chrysler to file for bankruptcy

[Hereford]

I'm not defending the unions and big 3, i'm telling you the societal ramifications of putting 10 million saps into poverty. 

the solution is a slow rampdown. 
help them with bills, cash out the lucky fackers who signed good pensions, get the auto indusrty to something greener without foreign oil dependence, and slowly cut the fat/let those ppl move back to school or new industries in the meantime.

240 you really think some union facker who has been living the good life getting $60/hr to push a broom, is going to willingly go back to school or agree to a 'slow rampdown'? You think the union halls are going to go for that?

I agree with what you are saying, but any progress that is made will have to be painful at this point. The UAW is a cancerous tumor in the body of the American auto industry. It's going to hurt, but it has to be removed or else it's going to kill the host.

Unfortunatly, the only entity who can stop the bankruptcy is the federal government... and we can see where they stand.

[240 is Back]

240 you really think some union facker who has been living the good life getting $60/hr to push a broom, is going to willingly go back to school or agree to a 'slow rampdown'? You think the union halls are going to go for that?

I agree with what you are saying, but any progress that is made will have to be painful at this point. The UAW is a cancerous tumor in the body of the American auto industry. It's going to hurt, but it has to be removed or else it's going to kill the host.

Unfortunatly, the only entity who can stop the bankruptcy is the federal government... and we can see where they stand.

the union ppl are gonna get their money, let's be honest.  nothing you can do but whine about that.  the ppl with fat pensions will get those too. they were smart enough to get it, so they win there, as much bullshit as that is.  They did it legally.

we have to crutch them, then ensure future contracts are not so friendly to pay some GED douchebag $75 an hour to quality control bumpers.

Besides, if USA cars were selling like hotcakes, this wouldn't be an issue.  Our cars suck, period.

[Soul Crusher]

FEAR MONGERER

870 with 00 Buckshot.

[tonymctones]

870 with 00 Buckshot.

LOL i usually do buckshot, slug, buckshot or some variation of that

[Soul Crusher]

LOL i usually do buckshot, slug, buckshot or some variation of that

Ammo is starting to flow again.   

[BM OUT]

If Chrysler doesn't drop the unions big time during the backruptcy proceedings, this will obviously be a farce. I smell a GM plan here; sell off off all the assets and pay off the unions, then throw the remaining burden onto the taxpayers.

Drop the unions?The fucking unions now own 56% of the company!!!We threw billions at this failure and now Obama acts like hes the all mighty coming to the rescue.The bailouts FAILED!!!Obama FAILED!!!!!He wasted billions of our money to make sure pussy ass unions survived.

[MRDUMPLING]

Ammo is starting to flow again.   

Prices are coming down too!

The thing is I have to agree with 240 on this one.  The ripple effect of letting these three companies go would be HUGE.  I honestly don't think any of us can truly fathom the effect it will have on the economy.  3 million Americans alone still work for the big 3, plus the countless others that work for companies that supply and support the big 3.  This isn't a one dimensional issue where we let a company go under that has a shitty business model go under.  This will truly hurt us by allowing this to happen.  

Now...on the other hand, it does bother me that GM is in this position when they turn a massive profit overseas in China and Russia.  It does make me wonder about the UAW and the way those cars are made.  As we know China has one of the fastest growing economies so if GM can turn a profit there than they should be ok.  It's crazy the way the stockholders will get screwed though.

[BM OUT]

I'm not defending the unions and big 3, i'm telling you the societal ramifications of putting 10 million saps into poverty. 

the solution is a slow rampdown. 
help them with bills, cash out the lucky fackers who signed good pensions, get the auto indusrty to something greener without foreign oil dependence, and slowly cut the fat/let those ppl move back to school or new industries in the meantime.

If we get laid off no one helps us.Why should my money be used on them?If they break the law SHOOT THEM IN THE STREET!!!

[tonymctones]

Prices are coming down too!

The thing is I have to agree with 240 on this one.  The ripple effect of letting these three companies go would be HUGE.  I honestly don't think any of us can truly fathom the effect it will have on the economy.  3 million Americans alone still work for the big 3, plus the countless others that work for companies that supply and support the big 3.  This isn't a one dimensional issue where we let a company go under that has a shitty business model go under.  This will truly hurt us by allowing this to happen.  

Now...on the other hand, it does bother me that GM is in this position when they turn a massive profit overseas in China and Russia.  It does make me wonder about the UAW and the way those cars are made.  As we know China has one of the fastest growing economies so if GM can turn a profit there than they should be ok.  It's crazy the way the stockholders will get screwed though.

the other option is to keep throwing money at a failed business? Either way we are fucked, one way we the tax payers get our money given to a failed business for probably years to come, another is we let them fail yes its hard on ppl but its not a long drawn out process of slowly bleeding the taxpayers...actually they arent slowly bleeding anybody they are jabbing us with knives.

[Soul Crusher]

If we get laid off no one helps us.Why should my money be used on them?If they break the law SHOOT THEM IN THE STREET!!!

These companies have a failed business model and need to go away unless they can adapt without taxpayer money.  

[Hereford]

Why is private industry being supported with tax funds?

[BM OUT]

Why is private industry being supported with tax funds?

Simple.The unions give money to the filthy democrats so they CANT let them fail.

[Hereford]

Simple.The unions give money to the filthy democrats so they CANT let them fail.

Obviously.

I mean from a logical standpoint.

[Soul Crusher]

Obviously.

I mean from a logical standpoint.

Logic and liberals?  Who needs that?

[Option D]

its obamas fault!!!!!!!!!!!!!!

[Soul Crusher]

its obamas fault!!!!!!!!!!!!!!

This one is not his fault.   

However, this company should not be propped up. 

[240 is Back]

If we get laid off no one helps us.Why should my money be used on them?If they break the law SHOOT THEM IN THE STREET!!!

that's super.

we all love our guns and all that.

But eventually, one of them will get the drop on you.  Or they'll gang up.  Or your grandmother will be robbed while checking her mail, if they don't fancy you an easy target.  Or your car will be robbed repeatedly.  Or your place of business will go under due to demand or crime.

I guess it sounds like you want to play GTA Vice City on the streets.  The rest of us would like to live happy lives in a safe world.  yes we have our guns.  But letting 3 to 10 million people onto our streets because it's the right thing to do results in a detriment to society much larger than the cost of the bailouts.

it's akin to screaming about the price of aspirin as you lie on the floor croaking from a heart attack.

[Dos Equis]

More government welfare.  Terrible. 

[tonymctones]

that's super.

we all love our guns and all that.

But eventually, one of them will get the drop on you.  Or they'll gang up.  Or your grandmother will be robbed while checking her mail, if they don't fancy you an easy target.  Or your car will be robbed repeatedly.  Or your place of business will go under due to demand or crime.

I guess it sounds like you want to play GTA Vice City on the streets.  The rest of us would like to live happy lives in a safe world.  yes we have our guns.  But letting 3 to 10 million people onto our streets because it's the right thing to do results in a detriment to society much larger than the cost of the bailouts.

it's akin to screaming about the price of aspirin as you lie on the floor croaking from a heart attack.

FEAR MONGERER go beat your drum somewhere else tiny tim

[Dos Equis]

Definitely sounds like fear mongering.  How does Chrysler filing for bankruptcy translate into 10 million unemployed criminals roaming the streets?  Where is that coming from? 

[tonymctones]

Definitely sounds like fear mongering.  How does Chrysler filing for bankruptcy translate into 10 million unemployed criminals roaming the streets?  Where is that coming from? 

whats funny is that any time bush would say anything remotely about terrorist attacks 240 would be on here yelling about fear mongering and now we will have 10 million new criminals raiding houses and robbing you at gun point if GM or Chrysler go under  hahahahahahah LOL

[Hereford]

Definitely sounds like fear mongering.  How does Chrysler filing for bankruptcy translate into 10 million unemployed criminals roaming the streets?  Where is that coming from? 

Kinda says something about the average UAW worker now, doesn't it.

[BM OUT]

that's super.

we all love our guns and all that.

But eventually, one of them will get the drop on you.  Or they'll gang up.  Or your grandmother will be robbed while checking her mail, if they don't fancy you an easy target.  Or your car will be robbed repeatedly.  Or your place of business will go under due to demand or crime.

I guess it sounds like you want to play GTA Vice City on the streets.  The rest of us would like to live happy lives in a safe world.  yes we have our guns.  But letting 3 to 10 million people onto our streets because it's the right thing to do results in a detriment to society much larger than the cost of the bailouts.

it's akin to screaming about the price of aspirin as you lie on the floor croaking from a heart attack.

First of all these people will not riot.Its a silly argument to make.They will sit there ,with their hands out and beg uncle Obama to save them.There are 600,000 people a month loosing their jobs.Where are the riots?Where is the looting,the beatings,the stealing?No sir.These people will act as all the other Obama supporters do.Sit back,relax and let uncle Obama take care of their every need.

[Hereford]

First of all these people will not riot.Its a silly argument to make.They will sit there ,with their hands out and beg uncle Obama to save them.There are 600,000 people a month loosing their jobs.Where are the riots?Where is the looting,the beatings,the stealing?No sir.These people will act as all the other Obama supporters do.Sit back,relax and let uncle Obama take care of their every need.

Will he pay their mortgage and gas bill too?

[SAMSON123]

Some lenders refuse offer to reduce debt, leading to likely bankruptcy filing. But Chrysler expected to remain in business and complete deal with Fiat.

Chrysler LLC is going to file for bankruptcy, an administration official confirmed to CNN Thursday.

The filing comes after some of the company's smaller lenders refused a Treasury Department demand to reduce the amount of money the troubled automaker owed them.

Chrysler officials had no comment on the bankruptcy report. The company faces a Thursday deadline from the Treasury Department to reach deals with creditors who had loaned the company about $7 billion.

But the filing will not mean the halt of operations or liquidation for the troubled 85-year old automaker. Instead, the administration expects to use the bankruptcy process to join Chrysler with Italian automaker Fiat.

In addition, the United Auto Workers union announced late Wednesday night that its membership at Chrysler had overwhelmingly ratified a concession contract reached between the company and union leadership on Sunday night.

President Obama said during a press conference Wednesday night that he was more confident than he had been 30 days ago that Chrysler would be able to emerge from the process as a healthy, competitive company. He is set to comment on the state of the auto industry at noon on Thursday.

The administration said Wednesday evening that talks with the smaller lenders broke down when they refused to meet a deadline set by the Treasury Department to accept pennies on the dollars they had loaned the company.

"After a month of tireless negotiations, the Administration went into yesterday afternoon with the full support of Chrysler's key stakeholders, including the [United Auto Workers union] and the largest creditors. That support remains," said an administration official.

NO SURPRISE THERE....what would have shocked me is if they some how managed to restructure and improve...Imagine execs showing up in Washington after flying there in CORPORATE JETS to beg for money...IS THERE NO SHAME???