Comments on: Chrysler Suicide Watch 49: Official Statement

By: CPTG

CPTG — Fri, 01 May 2009 18:25:06 +0000

Don’t Take my Disillusionment away from me else will have nothing to live for!!!

Let me see if I got this right? ‘Fiasco’ (FIAT and CRYCO), a subsiderary of FIAT INC, will be owned by 55% of Union ‘Geezerees’ Retirees who will want to protect their pension payments by cutting the hours/benefits/pay/healthcare costs of the Fiasco line workers, thus causing the UAW to go on strike against…wait for it…THE UAW!!

FIAT will be permitted to own the company in degrees, once the government gets its money back–and if FIAT screams ‘IMPOSSCEBLIE”, FIAT can gut the company of its valuable assets (Jeep) and load the rest back on the Government as it pockets what is left of Obama’s new bail out monies. DIE FIASCO, DIE!!!

By: ihatetrees

ihatetrees — Fri, 01 May 2009 00:29:52 +0000

If there are lenders whose debt is shorted by this process (compared to government and union debt), could they eventually have recourse in Italian courts against Fiat?

Or will that be fixed too?

By: NickR

NickR — Thu, 30 Apr 2009 20:39:07 +0000

All vehicle warranties will be honored without interruption

That will make for a nice change.

He will return to Cerberus Capital Management LP as an advisor.

It gladdens my heart to see him land on his feet.

Chrysler’s Mexican, Canadian and other international operations are not part of any bankruptcy filing.

Huh? The whole company is so intertwined how can they be seperated out and be considered going concerns in their own right? I really don’t get that.

There are mystery novelists sitting wishing they could come up with plots full of so many twists and turns.

By: Johnny Canada

Johnny Canada — Thu, 30 Apr 2009 19:34:40 +0000

Did Cerberus just walk away with our money?

By: Gary Numan

Gary Numan — Thu, 30 Apr 2009 19:34:10 +0000

To superbadd75

How does Fiat + Chrysler = high quality vehicles?

Good one! Perhaps they hope two negatives added together actually result in a positive.

Me, I’m not betting on that math to actually work out…..

By: superbadd75

superbadd75 — Thu, 30 Apr 2009 19:25:17 +0000

“It enables us to better serve our customers and dealers with a broader and more competitive line-up of environmentally friendly, fuel-efficient high-quality vehicles.”

How does Fiat + Chrysler = high quality vehicles?

By: JK43123

JK43123 — Thu, 30 Apr 2009 19:10:22 +0000

Coming soon: the new, new, new Chrysler.

“Meet the old boss, same as the old boss.”

John

By: Mr. Sparky

Mr. Sparky — Thu, 30 Apr 2009 18:26:52 +0000

Is it time for Fi-sler Birth Watch No. 1?

By: toxicroach

toxicroach — Thu, 30 Apr 2009 18:19:17 +0000

Jgh: Cerebrus will play a bad hand, but it knows when to stop playing.

By: toxicroach

toxicroach — Thu, 30 Apr 2009 18:16:36 +0000

“Chrysler also will file a motion under Section 363 of the Bankruptcy Code requesting the swift approval by the Court of the agreement with Fiat and the sale of Chrysler’s principal assets to the new company. The benefit of this type of filing is speed. It should allow a leaner new company to emerge in a matter of 30 to 60 days, well positioned for long-term viability.”

The only way they are going to get these assets out in 30 days is if no creditor objects to the sale. The only way to have that happen is to solidly overpay for the assets. So new Chrysler is going to have more debt load than it should from the get go. Well positioned indeed.

By: rpol35

rpol35 — Thu, 30 Apr 2009 18:06:31 +0000

I am assumming that Cerberus is out of this thing now, yes? So Chrysler, LLC remains a privately held company with ownership as follows:

UAW: 55%
Treasury: 10% (US & Canada)
Fiat: 20%
???: 15%

Who owns the remaining 15% that Fiat will eventually want to buy?

By: jgh

jgh — Thu, 30 Apr 2009 17:57:49 +0000

Chrysler’s surprisingly efficient – it only took 49 “suicide watches” to put the fork in ‘em, versus GM’s 500+.

By: TexN

TexN — Thu, 30 Apr 2009 17:41:37 +0000

A press release? How pedestrian! I would have thought Chrysler would have done something creative like….uummmmmmm…….I don’t know…….maybe some full page ads in various newspapers! Now THAT would have been something to see!

By: guyincognito

guyincognito — Thu, 30 Apr 2009 17:41:09 +0000

Um, isn’t it now the Chrysler Suicide Witness? I can’t even wrap my mind around how this is actually going to pan out.

By: JG

JG — Thu, 30 Apr 2009 17:30:29 +0000

Plants shut down and production will resume “when the transaction is completed.”

Hmm. What does “business as usual” mean to you?

Will the workers still be getting paid for the next one or two months?

What transaction, exactly? Is FIAT going to be able to twist arms by holding out on particulars, while plants sit idle?