Chrysler files for Chapter 11

Little Woman · Apr 30, 2009

It is official Chrysler filed for bankruptcy protection today. Reading the news article you will all be happy to know for the 4 billion the government has given Chrysler in loans, the government will now be giving them another 8 billion to carry them through bankruptcy. Under the deal the government will back its auto warranties. The UAW will now own 55 percent , government will own 8 percent, and the Canadian and Ontario governmetns will own 2 percent. Obama administration is hoping Fiat can jump start Chrysler with its fuel-efficient and lower emission technology.
The above is bits from an article with the AP. I justed wanted everyone to know, now the tax payers own a piece of Chrysler. This bothers me because we are going to get these little fuel efficient cars shoved down our throats. My .02 I wish the government had not gotten involved with the automotive industry. In my opinion the government never planned on approving any kind of plan GM or Chrysler would have come up with. GM has until June 1st, watch they will be the next to file for protection. The government is getting exactly what they want. :willy_nilly:

Maybe I'm the only one who feels this way. But once again the American tax payer is going to be told what is best for us. The little clown cars. Hold on to your gas guzzlers who knows if we will ever be able to get them again. Sorry for the rant. Can't believe how this is all going down on all sides.

HOMEGAMEROOM · Apr 30, 2009

And who didn't see that coming? I can't imagine, with all the history of the automakers feeding politicians $$$$$$$, this isn't going exactly as planned. Maybe everything had to be extended out for a few months to placate the unions, since they would have certainly had a fit if Chrysler (or GM) simply filed for Chapter 11. Don't worry too much about us driving clown cars, in spite of Rex Roy's commentary on AOL.com forecasting "Pontiac Is Dead; Is The Corvette Next?" (excerpt below):

"Bureaucrats have little use for performance-oriented V-8 powered cars, so don't expect cars like the Chevy Corvette, Dodge Viper, Chevrolet Camaro SS, or Dodge Challenger R/T to survive long term. Their survival is no longer tied to customer demand, but to the demands of the government that now controls the product portfolios and development dollars at GM and Chrysler. Recently, GM announced it was killing its Pontiac brand, a concept that seemed to define performance all by itself some decades ago. Now that brand is gone....

Even with ever-present worries of fuel prices, some 70-percent of the orders for Chevrolet's all-new 2010 Camaro are for the V-8 edition that produces over 400 horsepower (while achieving up to 25 mpg on the highway). Clearly, American drivers want what they want. The question is whether that matches what the U.S. government will want Detroit to build."

Well, if the government is a stockholder, why wouldn't they want GM to build popular vehicles that are also profitable, whether it's a 2010 Camaro or Corvette?

Please remember that the government kept CAFE standards the same (admittedly, with cash contributions from automakers, at 27.5 MPG fleet average for passenger cars) since 1990. Nope, they haven't changed a bit since then. GM actually did very well, since their average (domestic passenger vehicle) production in 2008 was 29.6 MPG. In MY 2009, GM is at about 31.3 MPG.

When driven reasonably, our cars get impressive fuel economy. I would guess that the future of any 8 cylinder engine is sketchy, but we thought the same thing in the 70's when the Clean Air Act was enabled. And GM's new direct-injected V6 puts out an impressive amount of horsepower for its size (I think it's 302HP) and also happens to get impressive fuel economy. That engine also needs minimal accoutrements to maintain a cleaner exhaust due to its technology.

I hope that the "new" GM takes that technology to one or more of its existing V8 engines. Great horsepower, great fuel economy, and clean(er) emissions? The future has the possibility of looking bright!!

Yeah, I do usually see the glass a half-full!

Lola's Mom · Apr 30, 2009

All together now .....

:pat:

...

556393 · Apr 30, 2009

Can we impeach what`s his name.....aka. BOZO?

Lola's Mom · Apr 30, 2009

556393 said:
Can we impeach what`s his name.....aka. BOZO?

I like you.

556393 · Apr 30, 2009

back at ya.

Little Woman · May 1, 2009

Today on the radio they had a automible industry expert on. He was asked how he felt about what was going on with the industry. He said Ford is looking better and better everyday. He said that the government is trying to take the automotive industry in a direction the American people do not want.
556393: I wish we could impeach him. AKA Bozo

556393 · May 1, 2009

This is just a joke....just a joke.... something to make one laugh. Please don`t call Jesse or Al Sharpton. "We won`t have long to wait, how many black men you know can keep a job for 4 years?"