After April 30 , the new Chrysler will be owen by 5 American banks and the taxpayers,with 61.1 % , Daimler with 19.9% and Fiat with 20%. The bottom line is the banks have 5 votes, the taxpayers have 1 vote, Daimler have 1 vote and Fiat has 1 vote. So if the new Chrysler goes into planed bankruptcy its the Banks with its 5 votes that will control the sellout of the Chrysler brands!
Well it looks like JP Morgan- Chase and Friends ,are Chrysler's largest debt holders and unwilling to reducing Chrysler debt, saying they can make more $money by selling off the Chrysler brands ! The President's car czar has told Jp Morgan Chase and the others to lower their Chrysler debt, but all are unwilling to do it, So what is the President going to Do? .....I just hope that Ford likes wranglers.
JP Morgan Chase and 40 other Chrysler debt holders have been offered 15 cents on the dollar by our Govt . But All the debt holders have decline this offer, saying they can get 70 cents on the dollar by the liquidation of Chrysler. Now all these Debt holders got there money from our 401 K's, our savings, bank depositors and so on,"you know real people," ok some of the banks got bailout money. But must our Government destroy our bank accounts just to save Chrysler? why don't our Govt give the debt holders 70 cents on the dollar ,if it really wants to save Chrysler! This way ,we the people only loose 30 cent on our dollar and not the 85 cents our Govt wants us to loose. Now this bad stuff for us Jeeper's ,is the next new jeep model coming out in 2011 or 2012, build by who?
With all of the above stuff said, it does seems to change each day now,and the true picture will only come out on are just after April 30, so i have decided to Wate unit then ,to see if I 'm going to have a stoke.
Last edited by slow2run; 04-11-2009 at 10:28 AM..
Reason: old info
Standard and Poor's said on 10 April that Chrysler would be unlikely to emerge from bankruptcy as one reorganize entity.I thank they are saying that some or all of Chrysler is to broken up ,and sold off? what is the value of the Jeep brand? Big bucks I wold think .So if its the Jeep brand thats get solid off, to save Chrysler/Dodge . Who could buy JEEP, Ford, a PVT group of Americans investors the UAW Union!, just as long as its American buyers. Ref: allpar.com/news
I read in the Detroit free press http://www.freep.com/autos Fiat has cash worries and not marketing some of its brands because of it. Chrysler and Fiat also don't have the capital ( $billions ) for tooling to equip the Chrysler pants ,to build Fiat autos for the planed model year 2011 .
Yes this is devastating , but you must Waite to April 30, to know whats afoot with all this stuff
Fiat; we got money ! Fiat SpA seeking billions of dollars in US Banking Rescue Funds. Through its majority-owned subsidiary CNH Capital , which expects to borrow 5.2 billion from the federal reserve program to repay its $5.2 billion loan , that it got from Fiat last year. REF: http://www.freep.com/autos
gawd what a mess. i'd be happy if Ford or Toyota bought Jeep. Ford would keep it American owned, but Toyota would make it better. Its already been owned by a German company, why can't it be owned by a Japanese one? Lets face it, Toyota makes some of the best vehicles, axles and engines in the world. they've been beating the pants of Chrysler, GM and Ford for decades. If you can't beat em, join em.
Well unlimited04 you just may be right, it would be better if Toyota or Ford bought jeep than have the US Govt buy chrysler and control and operate it, the first thing they would do is destroy jeep because its not green and its a SUV!
Fiat CEO Sergio Marchinne says unions may kill chrysler's deal, saying there is now only a 50% change that an alliance will be formed , unless the unions agree to substantial cost reductions, saying the Canada auto workers have taken a more rigid position than the UAW. Marchinne said the CAW & UAW need to realize, that the US and Canadian Governments are the lenders of last resort, he went on to say there is no plan B and we are not interested in picking up Chrysler's assets from a liquidation sale .Ref: http://www.allpar.com/news ,For the best info on this story go to http://www.freep.com well i just wonder if this Fiat stuff is connected to the post above about Fiat's got money, they get the 5 Billion of bailout money and run?
The last-thing we want is the US Govt running and building Jeeps!
President OB said today , that Chrysler/Fiat ,deal will happen? Well i would guess that a lot more bailout money is going to Chrysler! Because they don't want two auto companies to go into bankruptcy at the same time.This should be good for us jeepers! if it works out
Here's the article as it appeared on top, and blown up so maybe you can read it below:
Remember the printing process takes a bit of time and this came out a few weeks ago, so the current Fiat/Chrysler merger seems closer to actuality. However, the merger seems full of road blocks (no pun intended) and the International-buying-Jeep notion rings a bit truer to the latest information about engines and the direction of Jeep. But all of the information about the 2011 Grand Cherokee in this article appear to be off-base, as it's been introduced in New York, with full independent suspension, no domestic diesel, and on-target build and ship dates. In other words, it's hard to speculate for sure in this constantly-changing situation.