Obama, Chrysler, and Fiat

No, because Fiat was already moving to purchase Chrysler. This wasn't Obama's idea. It came as a free market business decision.

 

True. I just googled it and found an article in Forbes Magazine about it published last year.

 

Chrysler has had a string of foreign partners/owners. Renault, Mitsubishi, Daimler, and now Fiat.

 

It's called selling our trash to foreign buyers... :BangHead:

Then there were two... :thumbsup:

 

How sad for the hard working Chrysler workers that you could call their efforts "trash".

<pa deleted - LE>?

 

With Obama's public ultimatum to Chrysler, he kind of took the "free" out of the market in this particular transaction.

Fiat now knows that they Chrysler over the barrel and can dictate the terms to Chrylser. Chrylser will therefore not be making as good of a deal as they may have otherwise for their shareholders, bondholders, suppliers, and other debtors.

Just more evidence of Obama's lack of real world skills. Living in that ivory tower didn't teach him much about operating in a "free market". His experience with ACORN was all about using imtimidation to get what you want and that is what we are seeing here.

 

Also curious about your glee over the prospect of our nation loosing one of it's three auto manufacturers.

You seem to be counting down... are you looking forward to the possibility of no more domestic auto manufacturing?

Are there other American idustries that you hope to see go down?

How does this benefit you?

Very odd behavior.

 

You are absolutely correct. Obama has destroyed any chance Chrysler had of getting a good deal for their workers and shareholders. Chrysler has zero bargining power or leverage.

Not only that, Fiat now knows that the Obama adminstration is ready and willing to sieze their assets and take over their company. Obama may have killed any chance for a merger.

Perhaps that was Obama's intention all along. If the merger goes through and Chrysler is strengthened, then Obama doesn't have an excuse to take ownership of another American industry.

peace to you raying:

 

I don't think saying "Obama is turning the company over to foreigners" is an accurate description of what is happening. Chrysler was turned over to foreigners by their own management back in 1998 when they merged (a.k.a were taken over by) with Daimler. Daimler committed no resources to the company and left the company on its own as a shell of its former self 10 years later. Chrysler's best products are rear-wheel-drive, v-8 powered cars and trucks. Their 4-cylinder cars are simply awful and have been rejected in the market place. This product offering is not the recipe for business success in today's market. Chrysler does not have the resources to design and build competitive cars with current state of the art, fuel-efficient powertrains and they certainly don't have the resources to build the next generation of fuel-efficient cars. They either have to get a partner or they go out of business. Before the economic collapse of this past year, Chrysler was working with foriegn companies (Chery in China and Nissan/Renault) to forge alliances to build small cars. Fiat, from all I have read, is the best fit for Chrysler. And, Chrysler will be a benefit to Fiat as well because there is a market world-wide for Jeeps, heavy trucks, and luxury cars, which Chrysler builds. A merger with Fiat, or even a take-over, is Chrysler's best long-term strategy. I hope they pull it off.

 

Hey guys, go easy on LB re his remarks about "TRASH".

I'm generally nipping at his heels, but I truly think in this case this was a TiC comment predicated on his avowed love of Buick!

If I am wrong LB, please feel free to correct me!

 

You hit the nail on the had...

Wouldn't you really whether have a Buick?

I've never been a Ford man either...

 

Mr. Obama, welcome to reality!

 

Obama is an economic Fascist.

Fascism: The means of production are privately owned, but are controlled by government.

 

Even if Chrysler is owned by Fiat, it will still employ American workers... The key to this is that the company doesn't fold and put all those workers out of work. AND, we don't need it to be government owned... The deal has been in the works for over a year so you can't really call this Obama's idea...