Is Chrysler in Bankruptcy and does anyone care?

[brentdavies]

A few months ago the nay sayers on the local news and others were whining about the bad shape of the economy, and the ripple effects of a bankruptcy of one of the major auto makers.

I mentioned to a friend at the same time, The US President or the Canadian Prime Minister need to cause a scandal, a lost love child, or hidden mistress. Something to make new headlines.

The Swine Flu has replaced all the bad economic headlines from the news broadcasts.

The top new stories this morning were flu, flu, flu, flu, chrysler, flu, flu.

Chysler could be going into bankruptcy and nobody cares.

 

[NorthernAlex]

Yes, indeed. President Obama did a good job in his 100 day press conference yesterday to pave the way to this "Quick-rinse bankruptcy". The Dow just lost 0.22% today.

 

[JimWhitelaw]

The current plan for Chrysler is worse than bankruptcy. They`ll be 55% owned by the UAW and building Fiats. Like that could ever work.

 

[Nir]

QUOTE (brentdavies @ Apr 30 2009, 01:29 PM) The top new stories this morning were flu, flu, flu, flu, chrysler, flu, flu.

nice one Brent!

 

[JoefromTO]

What I care about are the potential jobs lost. As for the products made by the 3 big manufacturers...they have never been reliable. Ok there is the odd person who has had a Ford or Chrysler this or that, but overall they have the reputation for being farm equipment for a reason. They are cheap to buy.

My family has been in the collision industry for 45 years. We repair everything but specialize in European models. Compare a Ford, GM or Chrysler= cheap and depreciate like crazy, to a Toyota, Honda or Hyundai=affordable, reliable and retain resale value.

They need to improve their product, period. You know what`s funny though, you see bumper stickers that read "out of a job yet? keep buying import". How pathetic is that?

First of all, Honda has a plant in Alliston and Toyota has a plant in Woodstock. But the fact that they use a negative message rather than a positive one shows they admit defeat...but thats just a bumper sticker.

 

[bigbabba]

QUOTE (JoefromTO @ Apr 30 2009, 04:59 PM)
What I care about are the potential jobs lost. As for the products made by the 3 big manufacturers...they have never been reliable. Ok there is the odd person who has had a Ford or Chrysler this or that, but overall they have the reputation for being farm equipment for a reason. They are cheap to buy.



My family has been in the collision industry for 45 years. We repair everything but specialize in European models. Compare a Ford, GM or Chrysler= cheap and depreciate like crazy, to a Toyota, Honda or Hyundai=affordable, reliable and retain resale value.



They need to improve their product, period. You know what's funny though, you see bumper stickers that read "out of a job yet? keep buying import". How pathetic is that?



First of all, Honda has a plant in Alliston and Toyota has a plant in Woodstock. But the fact that they use a negative message rather than a positive one shows they admit defeat...but thats just a bumper sticker.




yeah I saw one of those bumper stickers just a few days ago, I was shaking my head..2 honda plants in Alliston, toyota in woodstock and cambridge..I guess the Japanese fly in from Japan every morning to work at these plants and then fly back home in the evening in their Japanese planes.

 

[Thomas Beyer]

QUOTE (JoefromTO @ Apr 30 2009, 05:59 PM)
What I care about are the potential jobs lost. ..


one Chrysler job saved at tax payer's expense of $200,000 per job means one less job at Honda or Toyota or Ford in Canada !



Bad decision by the government to get involved.



The problem is overproduction in N-America by several million vehicles / year, too high a labour cost, too many retirees' beneits and poor products, for years.



What we need is a conservative government in Canada that help build NEW industries not save old ones.



Even the "conservatives" are unfit to govern as they inappropriately allocate government $s, i.e. your and my tax dollars !

 

[EdRenkema]

QUOTE (thomasbeyer2000 @ May 2 2009, 06:12 PM) .
The "conservatives" are unfit to govern as they inappropriately allocate government $s, i.e. your and my tax dollars !


I guess `unfit` is a relative term. Like the libs or ndps are fit, hard, lean, and fast? - NOT
Union-friendly is more like it, which would work if the CAW/UAW was actually cost effective for the auto industry rather than for itself.

Here`s a shaft of brilliance: government=beauracracy=waste PERIOD!

 

[dlynes]

I don`t even think it`s so much the conservatives. There`s a good chance Harper was just going to let the CAW and GM/Chrysler hang themselves, but the Liberals threatened to hang them out to dry if they didn`t do something.

What I would rather see is a Volkswagen plant in Canada. We had to wait three(?) years for the Audi A3, and it`s still not available in diesel, and Canada`s had VW models that only exist in Canada for some time now. The Volkswagen is already very popular in Canada, but yet we continue to import it. I haven`t lived in Ontario for quite some number of years. However, I just moved back from Vancouver in December. The number of American cars here is actually quite high. In BC, you don`t see many American cars...mostly just Japanese and European. Everyone`s usually driving Japanese, unless they can afford a European. Both have much better life expectancy than an American car.

QUOTE (thomasbeyer2000 @ May 2 2009, 09:12 PM) one Chrysler job saved at tax payer`s expense of $200,000 per job means one less job at Honda or Toyota or Ford in Canada !

Bad decision by the government to get involved.

The problem is overproduction in N-America by several million vehicles / year, too high a labour cost, too many retirees` beneits and poor products, for years.

What we need is a conservative government in Canada that help build NEW industries not save old ones.

The "conservatives" are unfit to govern as they inappropriately allocate government $s, i.e. your and my tax dollars !

 

[Thomas Beyer]

QUOTE (dlynes @ May 3 2009, 07:11 AM)
I don't even think it's so much the conservatives. There's a good chance Harper was just going to let the CAW and GM/Chrysler hang themselves, but the Liberals threatened to hang them out to dry if they didn't do something.



What I would rather see is a Volkswagen plant in Canada. We had to wait three(?) years for the Audi A3, and it's still not available in diesel, and Canada's had VW models that only exist in Canada for some time now. The Volkswagen is already very popular in Canada, but yet we continue to import it. I haven't lived in Ontario for quite some number of years. However, I just moved back from Vancouver in December. The number of American cars here is actually quite high. In BC, you don't see many American cars...mostly just Japanese and European. Everyone's usually driving Japanese, unless they can afford a European. Both have much better life expectancy than an American car.


indeed .. what I meant is that even the "conservatives" are unfit to run businesses .. of course NDP or Liberals would be worse .. doing nothing is the right thing to do for failing firms .. as jobs will be created elsewhere by producers of cars people actually buy !



The key issue is high costs, over production and low demand for their products .. nothing the government shoudl meddle with .. expect perhaps stimulate demand through tax credits !!



But, with Obama at the helm the Europeanization of industry has started in earnest in N-America .. i.e. a controlled market economy as opposed to a free market economy .. in cars, banks, health care, oil/gas, .. i.e. more government, higher taxes, less investment, less entrepreneurism and thus, lower living standards !

 

[dlynes]

I'm guessing you're referring to the nationalization of the banking system and the nationalization of the car companies by Obama?



The lower living standards has been happening stateside for quite some time, however. Try taking a visit to Indianapolis some time. It seems like a third world country if you're anywhere other than downtown, Raceway, or north of 82nd St. 46208, 46205 zip codes and Lawrence Township are especially bad. They make a lot of the Bronx movies look like a nice place to live.




QUOTE (thomasbeyer2000 @ May 3 2009, 11:56 AM)
But, with Obama at the helm the Europeanization of industry has started in earnest in N-America .. i.e. a controlled market economy as opposed to a free market economy .. in cars, banks, health care, oil/gas, .. i.e. more government, higher taxes, less investment, less entrepreneurism and thus, lower living standards !

 

[brentdavies]

Last outbreak of swine flu in the USA in 1976, the US government decided to give the general population swine flu immunizations, for over 200 million, and about 30 people died due to the shots. Only one person died of the swine flu in 1976.

Is the current crisis similar to Y2K, and the computer crashes we were told that would happen.

300 cases in mexico and the outbreak is dropping off.

Canadians travelling to Hong Kong being placed in quarantine for a week.

My original post " The bad economic news is now off the front page, and the top stories in major news networks, being replaced by something else."

Today, who cares about unemployment numbers, and GDP doing poorly.

The flu has being discovered in the Alberta hog farm, causing China and others to ban Canadian Pork. The Pork Farmers will pay a high price for the flu.

Good News, The flu has not stopped job seekers from coming to Alberta.

 

[EdRenkema]

QUOTE (brentdavies @ May 4 2009, 05:52 PM) The flu has being discovered in the Alberta hog farm, causing China and others to ban Canadian Pork. The Pork Farmers will pay a high price for the flu. Good News, The flu has not stopped job seekers from coming to Alberta.


W.H.O. (not the rock band) declares - LEVEL 5.... PANDEMIC IMMINENT!!!

(inject sound of sirens and video of people running for optimal effect)

 

[dcres]

If the Germans couldn`t turn Chrysler around how much chance do you give the Italians & the CAW???
The Govn`t admitted this week, that there is a good chance of not getting their money back.

 

[Thomas Beyer]

QUOTE (dcres @ May 8 2009, 01:14 PM)

If the Germans couldn`t turn Chrysler around how much chance do you give the Italians & the CAW???
The Govn`t admitted this week, that there is a good chance of not getting their money back.
what do you mean by .. "their" money ?? You mean "our money" ??

This bailout is a disgrace !

Where`s the bailout for small companies, parts suppliers, restaurants, landlords, plumbers, roofers, painters, retail clerks, oilsands operators, onsite managers, steel manufacturers, hotel cleaning personnel, ski hill lifties, drillers, car dealers, ... everyone is affected by the recession and copes .. and one or 2 companies get bailouts by the $300,000 PER JOB saved ???

A DISGRACE !!!

 

[housingrental]

Thomas - My thoughts exactly...
Don`t expect a change until understanding the impact of subsidies is a requirement to be able to vote.