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Login to post Forums » Off-topic discussion » berkeley you chrysler

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Dec. 16, 2009 5:37 p.m. Capt Slow HalfDork

http://www.msnbc.msn.com/id/34434831/ns/business-autos

MSNBC said:
NEW YORK - The U.S. Treasury will not recover any portion of the $3.7 billion still outstanding in loans it made to automaker Chrysler under the Troubled Asset Relief Program, according to the terms of a plan filed with bankruptcy court on Tuesday.

The U.S. government has filed proofs of claim for unpaid principal, interest, fees and expenses, but "will receive no recovery on account of such claim," according to court documents filed on behalf of Old Carco LLC, the units of Chrysler that remain under bankruptcy protection while they are liquidated.

The proposal was laid out in a disclosure statement filed with the New York bankruptcy court in Manhattan.

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This is why I didn't want to lend you anything in the first place....
Dec. 16, 2009 5:43 p.m. 2002maniac Reader

Both the treasury and chrysler must be run by retards!
Dec. 16, 2009 5:45 p.m. Snowdoggie HalfDork

2002maniac wrote:

Both the treasury and chrysler must be run by retards!

Here we go again.
Dec. 16, 2009 6:11 p.m. aussiesmg SuperDork

Damn Gingers
Dec. 16, 2009 6:17 p.m. Capt Slow HalfDork

Long ago not so far away: said:
I couldn't love GRM the magazine or the website more, and believe me, I don't like to be the P.C police or anything or the guy who has a problem with everything thing, but I do have a problem with this...

I find it a bit offensive that you use terms like retard. I myself do not have special needs, nor am I a special ed teacher or counselor, but I feel sensitivity for people with special needs as I am a student taking special ed classes, and my Girlfriend is pursuing her masters in the field.

These terms although I'm preety sure are not evewr nreal words, are obviouslyt meant to resemble the words used to describe people with mental impariments, and it appears that they are used on these boards in a joking sense which, as I view it, makes light of people who are afflicted with mental disabilities.

It just dosen't seem right to me, thats all. I know that it's not my message board, and that noone forces me to post here, but all the same, some things are wrong when they really don't need to be.
Dec. 16, 2009 7:30 p.m. mad_machine PowerDork

what happened to the fiat connection? I was looking forwards to a 500 Abarth
Dec. 16, 2009 7:44 p.m. Snowdoggie HalfDork

mad_machine wrote:

what happened to the fiat connection? I was looking forwards to a 500 Abarth

Ask the Gingers.
Dec. 16, 2009 8:03 p.m. Capt Slow HalfDork

According to the article below it seems like fiat is still an active partner with Chysler.... But there seems to be a lot of finantial "issues" in the works. The end result is that the tax payers get screwed out of another few billion...

Detroit news
Dec. 16, 2009 8:05 p.m. aussiesmg SuperDork

Refer to my post

http://grassrootsmotorsports.com/forum/off-topic-discussion/most-overused-words-an...
Dec. 17, 2009 7:27 a.m. MadScientistMatt Dork

There's something perversely impressive about making a business decision so bad it makes it seem unpatriotic to buy American.
Dec. 17, 2009 7:35 a.m. Tim Baxter Online Editor

Is anyone really surprised? Really?

Even if they DO get a massive influx of money, R&D and saleable products from Fiat, I STILL wouldn't give Chrysler a 50% chance of still existing in 10 years.
Dec. 17, 2009 7:46 a.m. 4cylndrfury Dork

NYS bankruptcy court judges need to get punched in the throat until either your fist falls off the end of your arm or their head falls off the top of their neck.

theres no acceptable reason why Scheist-ler shouldnt be forced to repay every effing dime
Dec. 17, 2009 7:46 a.m. John Brown MegaDork

Tim Baxter wrote:

Is anyone really surprised? Really?

Even if they DO get a massive influx of money, R&D and saleable products from Fiat, I STILL wouldn't give Chrysler a 5% chance of still existing in 10 years.

Tim I noticed you hit a 0 when you typed your 5. Caught it for you in editing before it went to print.
Dec. 17, 2009 8:44 a.m. DrBoost Dork

I"m not the least bit surprised. Someone said Chrysler and the treasury must be run by the "R" word. The way I see it, the financial guys at Chrysler are freakin' geniouseseses. They figured out a way to fenagle a few billion dollars, and then not even pay a dime back. I want them doing my books!!
Dec. 17, 2009 9:09 a.m. 4cylndrfury Dork

All I know is if I were on the board of Hustler...I mean Chrysler, and I lived in the US, I wouldnt leave my home in the near future.
Dec. 17, 2009 9:31 a.m. alfadriver Dork

You'll note that this is the part of Chrysler that is getting liquidated, not what is surviving.

All it means is that nobody is going to pay decent money for the stuff that "Old Chrysler" is selling off. Of the 15B Chrysler got, this covers 4B of that, and says that 3.7B will not be recovered in liquidation. This is "Old Carco".

The rest of the money is being used to finance new cars under management WITH Fiat. That would be Chrysler LLC.

Basically, when the deal was made, the two parties should have negotiated what part should not get funding, since it will be liquidated. Since that didn't happen, we loose a couple of days of occupation money.

Again, this ISN'T Chrysler LLC, but Old CarCo- the parts of Chrysler that got split off to be liquidated.

So if you are looking for some engine machining tools + stamping/welding equipment, you can get a darned good deal on it.

Eric
Dec. 17, 2009 9:58 a.m. BoxheadTim Reader

Unfortunately this seems to be a reoccuring theme with the government somehow not managing to ensure that the taxpayers get adequate security for the money they throw down black holes...
Dec. 17, 2009 10:35 a.m. integraguy HalfDork

In a twisted sort of way, I am amused that an auto manufacturing (?) "entity" refers to itself LEGALLY as Old Car Co. That sounds like the brand of automobile someone like Roger Rabbit would drive.

"Me? I drive a 1956 convertabout, built by the Old Car Co."
Dec. 17, 2009 10:39 a.m. Strizzo SuperDork

thats just what they put all the crappy assets under when the pulled out the good stuff and left the rest to die, along with some money that won't be repayed
Dec. 17, 2009 11:10 a.m. DrBoost Dork

GM did a similar thing. They lumped all "bad dept" into the old GM and it's going away. That's what bankruptcy is. How they hid a few billion of the bailout dollars in there is interesting.
Maybe the gubment could charge-back Daimler for the raping and pillaging they did to recover that 3+ billion.
Dec. 17, 2009 11:59 a.m. skruffy Dork

They should've stuck to the original bailout plan of letting chrysler go under.
Dec. 17, 2009 5:47 p.m. aussiesmg SuperDork

Do you guys really think this wasn't a pre-arranged situation, come on now, or am I just a cynic
Dec. 17, 2009 5:50 p.m. carguy123 SuperDork

BoxheadTim wrote:

Unfortunately this seems to be a reoccuring theme with the government somehow not managing to ensure that the taxpayers get adequate security for the money they throw down black holes...

And you are surprised, why?
Dec. 17, 2009 8:32 p.m. DrBoost Dork

skruffy wrote:

They should've stuck to the original bailout plan of letting them both go under.

Fixed for ya.
Dec. 18, 2009 8:59 a.m. jharbert New Reader

Tim Baxter wrote:

Is anyone really surprised? Really?

Not even a little.

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