Chrysler is now belly up - Page 3 - Mercedes-Benz Forum

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post #21 of 56 (permalink) Old 04-30-2009, 10:35 PM
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But this time it might not be so easy. Not all of those who've already raised their hands in favor prior to bankruptcy, especially the smaller investors, will still be raising their hands inside Chapter 11. They can change their mind, and some just didn't want any negative publicity before the bankruptcy.

Worse, there could be a legal fight over whether the vote of Citibank and the other "big four" creditors -- J.P. Morgan Chase, Morgan Stanley and Goldman Sachs, who together hold 70% of Chrysler's debt -- should be counted toward the two-thirds threshold that would bind the company's other 42 creditors. The Bankruptcy Code requires that the votes of creditors be given in "good faith." It won't be hard for the smaller creditors to argue that Citibank and other TARP recipient's votes aren't in full good faith. In agreeing to Treasury's offer of 32 cents for each $1 of their debt, the objectors would say, Citibank and some others were influenced by the fact that Treasury was keeping them afloat with federal subsidies. If this type of litigation begins, it won't be easily resolved.
A Chrysler Bankruptcy Won't Be Quick - WSJ.com
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post #22 of 56 (permalink) Old 05-01-2009, 12:32 PM
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Two thirds of supplier idling ?

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Chrysler says most of its manufacturing operations will cease operation while it is in bankruptcy, which, combined with a rolling 90-day shutdown by most of General Motors' ( GM - news - people ) factories, and a week-long business shutdown in Mexico to combat swine flu, could jeopardize the entire North American auto industry.

Thursday's extended factory shutdown sent shock waves through an already fragile supply chain trying to cope with a precipitous collapse in auto sales. "You're talking about two-thirds of the industry," said David Andrea, vice president of the Original Equipment Suppliers Association.
...

Motown Shutdown - Forbes.com
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post #23 of 56 (permalink) Old 05-01-2009, 02:10 PM
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Cool

Yet in Italy, the Big One said "Fiat Chrysler", and Chrysler will survive. Obama is off the hook, and the customers will get quality shafts.

Figure it: you have a Chrysler 300, and the counter guy tells you take this Fiat 500 part, is better.
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post #24 of 56 (permalink) Old 05-01-2009, 02:16 PM Thread Starter
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Too big to fail, too uncompetitive to exist. Ugh.
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post #25 of 56 (permalink) Old 05-01-2009, 03:15 PM
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american cars with italian reliability..nightmare couldnt get worst!

Fuel economy!! whats that??
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post #26 of 56 (permalink) Old 05-01-2009, 05:01 PM
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american cars with italian reliability..nightmare couldnt get worst!
How about looking at it in another way: Italian styling with American parts availability? That I can go along with
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post #27 of 56 (permalink) Old 05-01-2009, 07:35 PM
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Too big to fail, too uncompetitive to exist. Ugh.
Are you talking about Chrysler or America?

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post #28 of 56 (permalink) Old 05-01-2009, 07:42 PM
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Two thirds of supplier idling ?
This is the second shoe of the "just let them file bankruptcy" concept. Many of those suppliers will just not survive, and through no fault of their own.

http://www.oesa.org/pdf/Supplier%20B...TING_FINAL.pdf

This will add an additional 2-3% points to the Unemployment numbers for the next few months, if not longer.

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post #29 of 56 (permalink) Old 05-01-2009, 07:48 PM
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Fiat.
Fix it again Tony!

Yeah they will show Chrysler how to make smaller more undependable products.
Imagine a Viper with Fiat parts. The Horror!

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post #30 of 56 (permalink) Old 05-01-2009, 08:29 PM
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american cars with italian reliability..nightmare couldnt get worst!
You are not kidding. Fiat and Alfa Romeo reliability is on the bottom of the heap among European makes.

Do you remember Fiat 128s, mid engined X19s, Spyders, Stradas, and Bravas in the late 70's and early 80's? None of them were successful in the US due to numerous problems and poor reliability. And Yugo, introduced to the US market in the late 80's was nothing more than Fiat 124 manufactured under license in Yugoslavia. It too proved to be a dismal failure.

The only worse make I can think of is Renault. Renault actually built a manufacturing plant in Kenosha Wisconsin, which built Renault Alliance cars. The quality and reliability was so bad that the plant was shut down and Renault left the US market.

I hate to predict this, but partnership with Fiat is the beginning of the end for Chrysler.

Last edited by p100; 05-01-2009 at 08:37 PM.
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