Chrysler files bankruptcy
 

Done Deal: Chrysler in Bankruptcy, GMAC To Take Over Financing

It's now official. President Obama announced this morning that Chrysler has entered into bankruptcy proceedings.

His remarks revealed little in the way of new information, but Obama did go out of his way to call out the private equity groups that stood in the way of a reorganization out of bankruptcy. "I don't stand with them," he said.

Obama went on to say that the bankruptcy "will be quick and efficient," a promise that will be tough to deliver. He also suggested that Americans who are in the market for a new car should "buy American."

Also worthy of note, GMAC (formerly known as the General Motors Acceptance Corporation) will take over the retail financing of Chrysler vehicles.

Obama Says Chrysler Getting ‘New Lease on Life’
http://www.bloomberg.com/apps/news?p...d=aEijL5Nqod3k

more info
http://money.cnn.com/2009/04/30/news...ion=2009043009

http://blogs.edmunds.com/straightline/obamapa250.jpg

Now if only i could get a srt-8 challenger for cheap :D

GM is next

Let FIAT buy it and change the name to FIAT North America or something. ;)

i would buy a fiat but not a chrysler

went and checked out the fiat website... and i'm not seeing much of anything interesting?

i mean....

http://www.fiat.com/FIAT_COM/uploads...ic_x_big_1.jpg

italian version of their pontiac aztec?!?

You're not looking at the right cars. The Qubo is ugly. The other small cars are pretty nice. I really like the 500 Abarth. http://www.fiat.co.uk/500abarth/

http://www.desktopcar.net/wallpaper/...-abarth_94.jpg

^not really worth the pricetag... unless your comparing it to a cooper s.

My friend has a Challenger and let's just say the build quality is on par with a car built in the late 80's.

i have a 2005 mustang

build quality and reliability is similar to cars in the late 80's as well

:thumbsup:

SEXY!!!!

Good. I have no desire to see any car manufacturer go out of business (even companies like Tata or Geeley) as it maintains a healthy competition and helps the economy, but Chrysler needed this. Hopefully they'll be able to restructure, gain some new top management that knows WTF they're doing and bring 'em back.

The bit I really don't like is that UAW now has a 55% share in Chrysler, making them the majority stake holder in the company. I have an unfortunate feeling that this will make deals regarding benefits, salaries, etc -- essentially the main bits that UAW had a hand in with Chrysler's downfall -- harder to repeal.

seriously.. please don't let GM die.. i really do like their car designs and engines. I just don't like their build quality.

Chrysler needs this. We'll see a brand new Chrysler in the near future. :)

i heard on the new that the Canadian federal government and Ontario government giving Chrysler almost 4 billion dollars of our tax money, WTF!!!, are we as stupid as the Americans?, we shouldn't be giving out tax money them, the only reason i can think of is that the planets are in Ontario, the lumber industry in BC were losing job here as well and i don't see the government stepping up and help the BC lumber industry. This is why i don't the eastern provinces because they have a bigger influence than western provinces through representation in the house of commons.

i just saw that on the news a few minutes ago haha

I spent about 10 minutes on this one. I see planets then after that I got nothing.

^
lmao.

common ALFAs!!!!!!!!!!!

so is chrysler still developing new car models?


lol.. chrysler and it's 100 years, i mean 100 days

I think someone just graduated from Social Studies 11....


But really, how fucking cool would it be to have an Alfa 8C with a Viper motor! lol

The bankruptcy I think will do good things for Chrysler. And the bond holders that held out? Don't feel too sorry for them they've all got CDS I'm sure.