Chrysler November Sales Drop 47%
Published: December 2nd, 2008
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You gotta love Chrysler. But not me. How in the world can they claim a right to MY tax money when they can’t even acknowledge their sales debacle on their own website? In fact, ChryCo’s sales dropped from last November’s 161,088 units to this year’s 85,260 units. Instead of admitting they’re up excrement creek without a paddle, today’s ChyrCo posting is “Why America Should Care About the U.S. Auto Industry.” How about this: why should we bail out Chrysler when its owned by a private equity group with deep pockets?
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I do not care about Chrysler. At all.
Chrysler needs to wisen up and remember that old axiom, "Two's company; three's a crowd!" They're odd-man out in this deal going forward.
I could only stand to watch about half of that video. They're all right; we need manufacturing. But if we bail them out, that will only encourage continued bad management by the auto company management and other companies. Chapter 11 is there for a reason. That is the legally acceptable way for a company to begin a turnaround. One might argue that Chapter 11 is also a morally acceptable way (as opposed to asking for public funds with no discernable way of paying them back). As one recent TTAC article's title said, they should "learn to love Chapter 11".