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post #1 of 7 (permalink) Old 10-20-2008, 04:55 PM Thread Starter
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Good News on Chrysler/GM?

Credit trouble slowing GM-Chrysler deal

October 20, 2008

DETROIT (AP) — A potential deal for General Motors Corp. to acquire Chrysler LLC is slowly moving forward, but the transaction is being hampered by an inability to borrow the money needed to make it happen, according to a person involved in the financing discussions.

LINK:The Associated Press: AP source: Credit trouble slowing GM-Chrysler deal

Since Chrysler has the money GM wants, Chrysler should be buying out GM, not the other way around!

Rick

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post #2 of 7 (permalink) Old 10-20-2008, 05:19 PM
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...true, but at that point, why would Chrysler want to buy out GM? Its going down hill at least as fast as Chrysler...


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post #3 of 7 (permalink) Old 10-20-2008, 05:42 PM Thread Starter
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...true, but at that point, why would Chrysler want to buy out GM? Its going down hill at least as fast as Chrysler...
Well I think Chrysler needs to be saved instead of disappearing for good in the near future. Remember when K-Mart bought Sears and the new name of that merger is Sears? Again Chrysler does have money to last another year, but if they have now canceled all their new future products for 2010 I guess they might as well depart. The Banks (scum of the earth) are pushing both GM and Chrysler to do this to help cover their loans to both. Guess I'm always for the under-dog, but in noway am I remorseful about my choice in purchasing my NITRO. I am concerned as to where I will get service in the future and if there is anyway they can renege on their "Lifetime" warranty or my two expensive service contracts. Also an issue as to parts available and MOPAR in the future. As a past Chrysler Parts Manager I can assure you parts do not have to be made for 10 years as some think. If Chrysler is gone so will replacement parts after the present supply is depleted in most cases.

Anyway I would much rather see Chrysler go out of business on it's own and not give it all to GM. Just my views, how about yours, everyone? What are the views of present NITRO owners?

Rick

Nitro Year: 2007 (1 of 91,815 sold in 07)
Nitro Model: R/T 4X4 Stone White
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post #4 of 7 (permalink) Old 10-20-2008, 09:45 PM
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Originally Posted by rickaren View Post
Well I think Chrysler needs to be saved instead of disappearing for good in the near future. Remember when K-Mart bought Sears and the new name of that merger is Sears? Again Chrysler does have money to last another year, but if they have now canceled all their new future products for 2010 I guess they might as well depart. The Banks (scum of the earth) are pushing both GM and Chrysler to do this to help cover their loans to both. Guess I'm always for the under-dog, but in noway am I remorseful about my choice in purchasing my NITRO. I am concerned as to where I will get service in the future and if there is anyway they can renege on their "Lifetime" warranty or my two expensive service contracts. Also an issue as to parts available and MOPAR in the future. As a past Chrysler Parts Manager I can assure you parts do not have to be made for 10 years as some think. If Chrysler is gone so will replacement parts after the present supply is depleted in most cases.

Anyway I would much rather see Chrysler go out of business on it's own and not give it all to GM. Just my views, how about yours, everyone? What are the views of present NITRO owners?
I opened the thread so others can post in here as well, instead of just the two of us

I have a service contract as well...i still have 3 years left on it, so if anything happens I had damned well better be able to still use it!!!


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post #5 of 7 (permalink) Old 10-21-2008, 03:39 PM Thread Starter
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GM-Chrysler: Stuck in neutral

Talks of a GM-Chrysler merger continue, but experts doubt the companies will find the savings, financing and union-backing necessary to close a deal.

October 21, 2008: 4:48 PM ET

NEW YORK General Motors and Chrysler both find themselves in too much trouble not to look at a deal. But those same troubles could make a combination too difficult to pull off.

The two battered automakers are reported to be in talks about joining operations in order to cut billions in overlapping expenses.

Experts say both companies need to consider such a radical move as a way to stop the bleeding. GM (GM, Fortune 500) has only about $21 billion in cash and Chrysler has $11 billion, although most of that was borrowed.

This may sound like a lot of cash but given declining auto sales and rising losses, both companies could run into cash shortages as soon as next year, according to credit rating agency Standard & Poor's.

"They are looking at some can-we-live-until-tomorrow questions," said David Cole, chairman of the Center fo


Balance of Article LINK:
GM-Chrysler deal - stuck in neutral - Oct. 21, 2008

Rick

Nitro Year: 2007 (1 of 91,815 sold in 07)
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post #6 of 7 (permalink) Old 10-21-2008, 06:01 PM
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Hi Everyone
We have two Chrysler cars. My wife has a 2004 Chrysler Concorde Limited loaded. Top of the line in 2004. 7 year warranty I have a 2007 Nitro SLT loaded. In the past I have had trucks and cars that went under. Also had a 1938 HD that Harley had no parts for. Now saying this someone will make parts for all Chrysler and Dodge cars and trucks.Because there will be allot of money to be made. Many people keep their cars for a long time. My wife keeps her cars 10+ years. So enjoy your ride and forget about them closing up, ( unless you work for Chrysler in some way ) those people are in trouble ( dealers too ).
Joe Bukal
Happy Dodge Owner
PS
I hate to say this but when it comes time to buy a new car and there is no more Chrysler I will look at Fords.
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post #7 of 7 (permalink) Old 10-22-2008, 11:10 AM Thread Starter
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Chrysler Merger Talk a Cry for Help?

Washington October 22, 2008; The NADA newsletter reported that Your government is getting into the auto business.

General Motors, facing the Detroit doomsday scenario, seems close to taking on the extra burden of private equity firm Cerberus Capital's disastrous stake in Chrysler. Don't believe it.

According to the Wall Street Journal, these negotiations are about one thing: creating a political last stand of American auto making that a Democratic Congress and president won't be able to resist bailing out.

Which raises the question: Why don't the auto makers limit themselves to paying competitive wages and benefits in line with what workers could earn elsewhere? Because, in the 1930s, Congress passed the Wagner Act, imposing a labor monopoly on Detroit to keep wages at higher-than-competitive levels.

And why doesn't Detroit bring its desirable, fuel-efficient cars that it sells in large numbers in Europe stateside? Because they don't match our emissions and safety standards, however trivially different from Europe's standards.

Any rescue mounted today in Washington won't be so much a "rescue" as a final admission that the industry can no longer bear its regulatory burdens without direct subsidies. For the full editorial, The Auto Channel


LINK:WSJ: Opinion: GM, Chrysler Merger Talk a Cry for Help?

Rick

Nitro Year: 2007 (1 of 91,815 sold in 07)
Nitro Model: R/T 4X4 Stone White
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