wabmorgan

I hate to say I was right.... but....

http://money.cnn.com/2009/05/05/news...oans/index.htm

Spoolin

iTrader: (8)

SNAP...

PopaPork

iTrader: (4)

Oh it's ok, it's a loan they all said, it's not a hand out, it's a loan, they'll pay it back.......WTF? Were are all those clowns now?

wabmorgan

Worse yet..... not only are they not repaying the loan but we are "loaning" them more $$$$$$$$$$$$$



GM will no doubt file their C11 soon and they won't re-pay either.... only difference is they "borrowed" even more$$$$$$$$$$$$$ and no doubt we will "loan" GM more $$$$$$$$$ as well.

And could be followed by Ford starting to "borrow" $$$$$$$$$$$$. with the same end result.

I'd bet a LOT of these "loans" are going to wind up that way.... not just the ones to the Auto industry.

It's all part of the plan.

PopaPork

iTrader: (4)

The ******* should have folded or filed MONTHS ago. ******* knew exactly what they were doing. Get as much cash as possible, keep business running as normal for as long as they can, then just fold and have their lawyers and accountants burry the loans in the C11 doc.

My hats go off to you Chrysler...well played...well played.

WECIV

"Well played," those *********** stole our money. What the **** do you mean "well played." We are ruining our country and the reason it is getting ruined is because no one gets upset about anything anymore, "well played." Seriously think about what you just said.

W

wabmorgan

He was simply being sarcastic.

PopaPork

iTrader: (4)

Sarcasm...it's what for breakfast.

Jon5212

iTrader: (2)

Wow... guess us taxpayers just get to bend over and take it dry once again.

kain01

The only people to blame for this is the government. They should have said no in Dec, or simply gave in and gave them the money they needed. While the latter part would have sucked, they knew it was the only way to get back what was owed. Shitty thing is I've worked for the Gov't in some capacity for 14 years now.

But then we can't blame them because we elected those idiots to office, and we (meaning American's) were the one's responsible for purchasing their vehicles to help them out. So I've said it once and I'll say it again, if you've ever purchased a new non-American automotive vehicle, you've helped put the Big three where they are.

SparkyJJO

iTrader: (11)

I sure didn't.

PopaPork

iTrader: (4)

Here we go again......
Maybe if the 3 made cars people wanted people would have bought their cars. They didn't people went elsewhere. If they weren't paying UAW and all there people ridic salaries, they wouldn't be here. Please lets not turn this in to, American should have been buying American cars. I'd love to know what kind of computer, tv, and other electronics you own and where they came from.

But you're right about one thing, we did this to ourselves, we elected, both Bush and Obama and Congress who set these bail outs in motion. Plain and simple. The feds should have said, sorry we got screwed by the Banks with something like this not so long ago, we won't do it again. File Chapter 11.

But they didn't and now we owe ourselves and everyone else billions of dollars and they still are closing down plants and laying people off and killing car brands.

Breathing Fire

I agree that people who don't buy american are some what to blame. I can also see why people wouldn't buy american. Fat overpaid lazy workers who will strike and cripple a company over 2 cents an hour. How can american companies make a quality product when their workers are overpaid and lazy so to save any money they have to cut corners. Now crysler going bankrupt is nothing new as far as I can tell that happens every 5 years or so nothing new with them. Oh and by the way cryslers cap 11 isn't actually a real cap 11 filing. Its one of obamas buddies making sure the union stays in these companies. Until the unions are out these companies are F**ked! Simple as that. All the jap companies will be in the same boat if the union gets in with them too so lets hope not in that if american cars are gone and they have no one to compete with we are yet again stuck with a **** product. Competition brings quality. Dump the union or its over labor costs like that would destroy any company no matter what country produces it.

Irunelevens

Do we still not have a :facepalm: smilie?

SparkyJJO

iTrader: (11)

You can roll your eyes all you want but what he said has truth to it. The reasons for people not buying domestics (good or bad) can be debated. HOWEVER, people not buying domestic cars HAS helped cause this. Arguing any differently is stupid.

PopaPork

iTrader: (4)

I will conceeed that not buying American cars had helped to this. Fine you got me. But I won't agree that the quality was the same, and that the 3 listend to what peopled wanted.

wabmorgan

Yes... but they have been closing the gap. GM and Ford more so than Chrysler.

GM and Ford have really stepped up their game in quality!!!!!!

heavy6.0

iTrader: (69)

I kinda have to take offense to this, but let me explain why: Before we went full time with speedtweekerz 4 years ago (been in business for 7), I actually worked at the ford kansas city assembly plant where the f150 was built, and let me tell you that I earned every freakin penny I was paid there. We pumped out between 50-60 trucks an HOUR which means you work non-stop. Hell, you cant even go to the bathroom without turning on a blue light and have someone come and do your job while you're taking a ****! Plus there is only 2500.00 worth of labor in an f-150. The media has basically tried to place all the blame on the workers and the union. I will give you that the union does tend to protect the deadbeats but they have been working on that. With that said however the UAW did actually help rasie the standard of living in our country over the past 40-50 years by forcing big corporations to share the wealth with the people who actually do the work. I'll agree that these companies definitely need to get there act together, but the blame lies with management NOT the guys on the floor buidling the vehicles, that I can assure you! I guarantee you if you were to step up and do the jobs that are done on those vehicles for the 15.00 an hour they are trying to get for new hires you would say f*@# this and walk off. Hell I seen people walking off when they were getting paid 25.00 an hour. BUY AMERICAN PERIOD!!

When your neighbor doesnt have a job its only a matter of time before you lose yours!!

Sorry for the rant

crzytown69

iTrader: (17)

we are all going to hell in a hand basket

TT632

iTrader: (3)

I can agree, the quality gap can be argued with respect to "some" Toyotas and Hondas vs. the equivalent GM vehicle, and that may be changing over the last couple of years. But, when you open it to all foreign vehicles it's a different story; Mitsu, subs, Suzuki, Fiat, and any Korean car up until a couple of years ago are not worth having out of warrantee, and some of them aren't worth having in warrantee! Many of these companies have always been kept afloat by their governments through currency manipulation or subsidies anyway. So we are doing the same thing they have been doing for years with the loans. If you take these sub-tier companies out of our market we would have one less economic battle to fight with Foreign companies.

Additionally, GM didn't get to be the largest Auto manufacturer in the world by being un-competitive relative to "All" foreign vehicles. If that was the case they would be like Fiat or Yugo. I wouldn't buy a Chrysler for the same reason I wouldn't buy a Mitsu, quality. The exception being Mitsubishi is a "Foreign" company that supports almost no American jobs outside of sales and service.

My favorite is the "Exclusive" Toyota or Nissan buyer that swears “if GM or Ford made a vehicle that was “just equal” in build quality to their precious foreign make” they would come back and buy an American. Make. These are the same people who ran out and bought new Tundras, Sequoias, Titans and Armadas when they were released. Let’s say that arguably; the Tundra is equal to a Ford or Chevy ½ ton, so why bother buying the Toyota…Styling? Never seemed to be an issue when the Toyota purchasers ran out and bought the Camry, that looked just like the previous generation Lumina. And I can argue all day that the GM and Ford half ton trucks are superior to the Titan which has had sales numbers so bad over the last year that they were going to replace it with a Dodge Ram, or the Armada with its worst in class gas mileage.