rickm wrote:
oh my, I guess you call declaring bankruptcy paying back a loan? good one... that's not the way I've ever paid back a loan, but I know there are a lot of folks that do that, especially in this economy. You should look up Cerberus Capital Management and see just what they did to Chrysler. Let's see, at one point Chrysler announced that GMAC would begin financing all of their automobiles... huummm... now who is it that owns GMAC? Let' see, I believe it's like 73% owned by the U.S. Treasury and the rest owned by Cerberus Capital Management. Oh yeah, I know, Chrysler Financial has changed their name to TD Financial.... some bank in Toronto bought them... great. You should read up on what Cerberus Capital Management has done to Chrysler, GM, United Rental and other companies. Oh, and look who is or was running that company.
I'm not saying that the government has a hand in what model cars that Chrysler builds, but I am saying that at some point in time, they had some people inside Chrysler that probably didn't need to be there. Same thing with GM. Whether or not that's what's caused the problems with those companies or not, I don't know. I do know that if an automobile company can't supply a simple part for a 3 year old car, they are surely hurting, and it doesn't make me want to go buy another one of their vehicles, unless I see some sort of turn around in the next couple of years.
And no, I'm not saying that buying a Ford Fusion is going to solve all of my problems, but I did need a second vehicle, and it's surely a lot better than paying $30 a day for a rental car when Chrysler can't tell the repair shop when they might see the new part to repair my Jeep.
No I'm not financing the thing, I've already written them a check and paid for it. And before you start telling me about the recall on the Fusion, I'm already aware of it, but thanks anyway.
I sure hope that Italian guy that's running the company knows something about running an automobile company, otherwise Chrysler/Jeep is hurting for sure. Yes, I know he was on the board of directors or was the chairman or something at Fiat, but does that really give him the qualifications to turn around Chrysler?
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<- Lives in the Detroit Area
<- Chrysler AND General Motors Employee
<- Has 62 Years of Chrysler in his blood
I don't need to look up anything, trust me, I know what's going on.
Now that you have clarified yourself, you are talking about the Bridge Loan which was given to Chrysler by G.W. Bush.... NOT the Debtor-In-Possession financing AFTER the Chapter 11 filing, and as I have said, THAT HAS BEEN PAID BACK IN FULL. Yeah I really don't have a comment on the bridge loan, however, bankruptcy was looming before that loan was given. It's not like they filed BK JUST TO AVOID paying back the government, which is what you make it sound like. Cerberus had nothing to do with GMAC becoming Chrysler's finance unit... that was Obama and his crew, they claimed that Chrysler Financial was not viable.
Marchionne knows a lot about running an automobile company. I like most of what he has done with Chrysler, which thanks to Daimler and Cerberus was in absolute shambles. Cerberus didn't have a friggin clue. Daimler just wanted to cut costs for the Chrysler Group ONLY, then shuttle money back to Germany, leaving Chrysler with well...nothing.
Again, you're just a victim of bad luck. I've been there, but not with a car part.... computer part. It was on backorder for 2 months, but I didn't run to another company just because of one bad experience. It's not easy to run an auto company, nor is it easy to work for one.
... and it's dang hard to work for two of them.
