Bailing out the Detroit automakers - Page 20

jimotis4heisman · #**286** (**permalink**) 06-06-2009, 10:13 AM

Quote:

This could be pretty cool. Penske Red Line Sky? A winner!

as part of the deal that model must be discontinued (along with the sporty astra)

in other news its coming out that the feds forced the chrysler-fiat deal...
http://online.wsj.com/article/SB124424451815990495.html

Quote:

WASHINGTON -- The Obama administration rushed an alliance between Chrysler LLC and Fiat SpA despite Chrysler's worries about Fiat's financial health and its willingness to share technology, according to internal company emails.
The emails show Fiat ignoring requests for documents and trying to change contract terms late in the talks. A Chrysler adviser at one point said the deal risked looking as if the U.S. auto maker and the Treasury Department, which helped broker the pact, were "in bed with a shady partner." In another note, an official referred to the Treasury Department as "God."
...

looks like mike is wrong obama admin isnt the messiah but the full fledged "god"

Best Buckeye · #**287** (**permalink**) 06-06-2009, 11:35 AM

I would like to point out that the biggest effect of these bailouts isn't that they will work or not but that this administration and now any that follow it forever will assume these powers and more. You can believe me when I say that the administrative branch of our government is infringing on and usurping the powers of the legislative branch.
The supposed system of checks and balances is exactly that, a way to make certain that no one branch gets too powerful and that has happened.
The little dutch boy has taken his hand out of the dike and the way is now open for future administrations to expand it.
The bailouts themselves aren't all that bad as we have seen with Chrysler once before but the Administration back then didn't pull the powers strings as we see now. What we see now are people remaking our economy as they want it, without regard to others.

OSUsushichic · #**288** (**permalink**) 06-06-2009, 02:04 PM

Oh, come on, Beijing, just take this monstrous, gas-guzzling piece of crap already.

Analyst: Hummer sale 'pretty unlikely' to get China's approval | Freep.com | Detroit Free Press

jimotis4heisman · #**289** (**permalink**) 06-07-2009, 07:59 PM

Quote:

Originally Posted by fourteenandoh

when you are owner and regulator, isn't that the definition of a conflict of interest?

you mean to tell me controlling the 19 largest banks, owning the worlds largest insurance company, owning the worlds largest automaker, having a significant share of a top five automaker, owning the worlds largest auto loan company, owning/operating the worlds two largest mortgage companies constitute a conflict of interest just cuz you regulate them?

Tresselbeliever · #**290** (**permalink**) 06-07-2009, 08:18 PM

Just who do these Indiana police and teachers think they are, trying to challenge the Obama administration and the unions?

Chrysler Creditors Ask U.S. Justice to Stop Fiat Sale

Quote:

June 7 (Bloomberg) -- Chrysler LLC creditors asked a U.S. Supreme Court justice to block the carmaker from selling its assets as early as tomorrow to a group led by Italy?s Fiat SpA.
Indiana pension funds that lent Chrysler money said in papers filed late yesterday that they will seek a Supreme Court review of a ruling allowing the sale. The funds asked Justice Ruth Bader Ginsburg for an order blocking the transfer until the high court decides whether to hear the funds? appeal.

cont...

corrupt capitalists, just trying to push blue collar people out of work....

muffler dragon · #**291** (**permalink**) 06-08-2009, 09:55 AM

Quote:

Originally Posted by Tresselbeliever

Just who do these Indiana police and teachers think they are, trying to challenge the Obama administration and the unions?

Chrysler Creditors Ask U.S. Justice to Stop Fiat Sale

cont...

corrupt capitalists, just trying to push blue collar people out of work....

Isn't there an inherent circularity in this consideration that lends itself to supreme irony?

Bucky Katt · #**292** (**permalink**) 06-08-2009, 12:42 PM

Sweet. GM bankruptcy paperwork started showing up today. I'm going to heat my house for free this winter.

Ttown · #**293** (**permalink**) 06-08-2009, 01:07 PM

The Chrysler deal is in doubt and the affected GM dealers probably will take theirs to the Supreme court too. These suits might take years, or Obama will pay them off too with more of our money.

BigWoof31 · #**294** (**permalink**) 06-08-2009, 01:49 PM

Ruh Roh for GM.

Obama Rated Highest as Person, Lowest on Deficit, Spending

Quote:

Only 42% of those who currently own a General Motors car are even somewhat likely to buy a GM product for their next car. That figure includes just 30% who are Very Likely to do so.
The latest Rasmussen Reports national telephone survey shows that 43% of current GM owners are not likely to buy another GM car, while 16% are not sure.
Democrats who own GM cars are somewhat more likely than others to buy their next car from GM.

buckeyefool · #**295** (**permalink**) 06-08-2009, 04:16 PM

Seems that Ms. Ginsberg has put a halt to the sale until the court can look at it closer. On tv they are reporting is was Ginsberg who sent down the order.

Top of cnn.com right now

Breaking News

The Supreme Court has delayed the imminent sale of most of Chrysler's assets to a group led by Italian automaker Fiat.

jimotis4heisman · #**296** (**permalink**) 06-08-2009, 04:41 PM

The Columbus Dispatch - News

headline says it all. word from detroit (or is it washington dc) that gm will end production of medium duty trucks.

jimotis4heisman · #**297** (**permalink**) 06-08-2009, 04:55 PM

Quote:

Originally Posted by buckeyefool

Seems that Ms. Ginsberg has put a halt to the sale until the court can look at it closer. On tv they are reporting is was Ginsberg who sent down the order.

Top of cnn.com right now

Breaking News

The Supreme Court has delayed the imminent sale of most of Chrysler's assets to a group led by Italian automaker Fiat.

linkage.
The Associated Press: High court blocks Chrysler sale to Fiat

jimotis4heisman · #**298** (**permalink**) 06-09-2009, 11:57 PM

High Court Clears Way for Sale of Chrysler - WSJ.com

Quote:

But the order is a setback for a group of Indiana pension funds and others who maintained the government's heavy-handed treatment of creditors in the case could chill private lending to distressed firms and alter the rules of bankruptcy reorganizations.
The Supreme Court, in a brief order, said that the funds had not "carried the burden" of proving that their grievances merited the court's attention.
Both Chrysler and the Obama administration argued strenuously that speed was of the essence in the company's Chapter 11 restructuring, and that any delays could jeopardize the Auburn Hills, Mich., auto maker's future, chasing away potential customers, straining its suppliers, and potentially causing Fiat to turn away from the deal.
...

its official now. jrs creditors trump sr creditors. at this point why would anyone invest in a us company? they shouldnt.... essentially the sc and obama admin have rewritten longstanding b.r.

Ford Seeks Alternate Forms of Government Aid - WSJ.com

Quote:

Ford Motor Co. has shunned the kind of U.S. government bailout afforded to General Motors Corp. and Chrysler LLC. But that doesn't mean that the Dearborn, Mich., auto maker is going it completely alone.
From governments around the world, Ford is trying to secure hundreds of millions in direct loans and loan guarantees to aid its credit arm and comply with environmental regulations in North and South America, Europe and Australia.
...

ford avoids us money but fetches elsewhere around the world...

jimotis4heisman · #**299** (**permalink**) 06-10-2009, 11:23 PM

Judge Backs Auction for Delphi in Rebuke to Plan - WSJ.com

Quote:

A U.S. bankruptcy court Wednesday sided with a group of Delphi Corp. lenders who said a government-led plan to sell the auto-parts maker's operations to a private-equity fund trampled on their rights.
Judge Robert Drain ordered Delphi to hold an auction and allow bids to challenge the government-brokered sale to Platinum Equity. "What's so special about Platinum?" asked Judge Drain. "They're just guys in suits. Why can't the other guys in suits just pay more?'
...

very good point.... makes me wonder about the chrysler deal. not only did it violate b.r. laws/regs (jr creditors favored over sr creditors) it did not allow for the company to be sold and/or dispatched of freely in such a manner to create the greatest possible value.

jimotis4heisman · #**300** (**permalink**) 06-11-2009, 01:03 PM

GM Pulls Plug on Hybrid Model - WSJ.com

then also this today
Handouts for Hummers - WSJ.com

Quote:

On Tuesday, the House approved this legislation, which would subsidize the purchase of a new Hummer H3T (16 mpg) or a new Dodge Ram 1500 4x4 truck (15 mpg),

View Poll Results: Should the US government provide financial assistance to the Detroit automakers
Yes. Like it or not, a lot of jobs are on the line. We don't have a choice.	3	6.98%
Yes, if they have a good business plan. Gov't must get equity, have oversight.	7	16.28%
No, help the affected workers with new job training, incentivise job creation.	4	9.30%
No, they have had too many chances. Let the markets work. Let them go bankrupt.	29	67.44%
Voters: 43. You may not vote on this poll

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