Chrysler profits surge 80%

[Wolfsister77]

Actually if they would of gone through the normal bankruptcy process, they would of failed. There was no private credit available.

They needed Government guarantees to survive.

They would of gone through Chapter 7 instead of 11.

Ch. 7-liquidation. Ch. 11-reorganization

 

[eflatminor]

Actually if they would of gone through the normal bankruptcy process, they would of failed. There was no private credit available.

Not true. I personally obtained private credit for my business during the same time period in which Chrysler was bailed out. A major organization with a brand name as powerful as Chrysler would have garnered significant attention in the VC and private equity community.

Even if they had been liquidated, that does not justify screwing over taxpayers, the bondholders, Chrysler's competitors, as well as new entrants that could have taken their market share.

 

[Nova78]

The auto bailout and the stimulus worked.

When is the treasury getting the $40 billion back from GM, Monica?

GM is paid back, Ford is the only one that still owes money.

Liar !

On the day Government Motors, aka GM, announced it was recalling at least 38,000 of its vehicles — Impalas used by police nationwide and in Canada — due to a crash risk, a new Treasury report said it now expects to lose $25 billion on the bailout, $3.3 billion more than forecast earlier.

 

[Oddball]

I already debunked his lie, using the same Forbes piece no less.

Notice that none of the Obiedoodle butt sniffers have gone anywhere near it.

 

[Wolfsister77]

Actually if they would of gone through the normal bankruptcy process, they would of failed. There was no private credit available.

Not true. I personally obtained private credit for my business during the same time period in which Chrysler was bailed out. A major organization with a brand name as powerful as Chrysler would have garnered significant attention in the VC and private equity community.

Even if they had been liquidated, that does not justify screwing over taxpayers, the bondholders, Chrysler's competitors, as well as new entrants that could have taken their market share.

That's what I was saying. They would of been liquidated. And it was already established they had no private credit available.

They needed the Government guarantees and because of that the industry was saved and millions of jobs as well.

This is a good accomplishment.

Something we can thank Obama and Bush both for.

 

[eflatminor]

Actually if they would of gone through the normal bankruptcy process, they would of failed. There was no private credit available.

Not true. I personally obtained private credit for my business during the same time period in which Chrysler was bailed out. A major organization with a brand name as powerful as Chrysler would have garnered significant attention in the VC and private equity community.

Even if they had been liquidated, that does not justify screwing over taxpayers, the bondholders, Chrysler's competitors, as well as new entrants that could have taken their market share.

That's what I was saying. They would of been liquidated. And it was already established they had no private credit available.

Again, you're blowing smoke. You have no idea what conversations were taking place among the thousands of VC and private equity firms regarding Chrysler. Of course, once the government stepped in, outside capital was off the table. But don't try to tell us there was no private credit available, because that's just not true big picture and you cannot possible know which sources of capital were or were not interested in funding Chrysler.

They needed the Government guarantees and because of that the industry was saved and millions of jobs as well.

You have zero evidence to support your assumption that the auto industry would have ceased to exist had the government not stepped in. ZERO.

Nor do you have evidence to support your claim that "millions of jobs" were saved. Can you not see that had Chrysler failed, other existing car companies and perhaps new entrants into the market would have taken their market share, as well as the jobs required to fulfill that demand?

This is a good accomplishment.

Something we can thank Obama and Bush both for

Tell that to the bondholders that got SCREWED, the taxpayers that are still left holding the bag, and Chrysler's competitors that were prevented from taking the market share the deserved a shot at.

 

[Stephanie]

How wonderful Chrysler is making a PROFIT off OUR DIME..

BUY Ford people, they didn't need a BAILOUT

 

[JoeB131]

How wonderful Chrysler is making a PROFIT off OUR DIME..

BUY Ford people, they didn't need a BAILOUT

No, but they benefitted from it.

If GM and CHyrsler fell, FOrd would have followed, because companies like mine that provide components for cars would have gotten out of the automotive business.

No parts- no cars.

 

[eflatminor]

How wonderful Chrysler is making a PROFIT off OUR DIME..

BUY Ford people, they didn't need a BAILOUT

No, but they benefitted from it.

If GM and CHyrsler fell, FOrd would have followed,

Horse hockey. You have zero evidence to support this claim. Logically, Ford would have captured massive market share if GM and Chrysler had been liquidated, which I do not believe would have been the case under a normal, structured bankruptcy. Whatever may have happened, you cannot state with certainty that Ford would have folded, no fucking way.

because companies like mine that provide components for cars would have gotten out of the automotive business.

IF Chrysler had failed, other companies would have taken their market share, including the possibility of a new entrant. Your company, or a competitor, will sell parts as long as demand exists for those parts.

You guys cannot spin this situation into "Obama saved us" when so many other companies, even larger companies, have gone through bankruptcy and come out stronger...and they did so without fucking the bondholders, taxpayers, and Chrysler's competitors.

 

[JoeB131]

How wonderful Chrysler is making a PROFIT off OUR DIME..

BUY Ford people, they didn't need a BAILOUT

No, but they benefitted from it.

If GM and CHyrsler fell, FOrd would have followed,

Horse hockey. You have zero evidence to support this claim. Logically, Ford would have captured massive market share if GM and Chrysler had been liquidated, which I do not believe would have been the case under a normal, structured bankruptcy. Whatever may have happened, you cannot state with certainty that Ford would have folded, no fucking way.

because companies like mine that provide components for cars would have gotten out of the automotive business.

IF Chrysler had failed, other companies would have taken their market share, including the possibility of a new entrant. Your company, or a competitor, will sell parts as long as demand exists for those parts.

You guys cannot spin this situation into "Obama saved us" when so many other companies, even larger companies, have gone through bankruptcy and come out stronger...and they did so without fucking the bondholders, taxpayers, and Chrysler's competitors.

Hey, guy, I don't care if bondholders get fucked, honestly.

I really wonder why you spend so much time worrying that the rich won't have enough Polo Ponies and Dressage Horsies...

The GM Bailout saved jobs. It saved my job. I'm happy it happened. So are most sane and sensible people.

And frankly, as long as the GOP keeps on being of the party of "I've got mine, fuck you", they are going to keep losing elections.

 

[rdean]

It will do even better once Romney moves it to China. Romney has millions invested in China. Moving more American businesses there will protect his investments.

Come on, everyone knows it. No one can possibly pretend ignorance. It's why he wants to become president. He will triple his Chinese investments. They don't call him pioneer for nothing.

 

[eflatminor]

No, but they benefitted from it.

If GM and CHyrsler fell, FOrd would have followed,

Horse hockey. You have zero evidence to support this claim. Logically, Ford would have captured massive market share if GM and Chrysler had been liquidated, which I do not believe would have been the case under a normal, structured bankruptcy. Whatever may have happened, you cannot state with certainty that Ford would have folded, no fucking way.

because companies like mine that provide components for cars would have gotten out of the automotive business.

IF Chrysler had failed, other companies would have taken their market share, including the possibility of a new entrant. Your company, or a competitor, will sell parts as long as demand exists for those parts.

You guys cannot spin this situation into "Obama saved us" when so many other companies, even larger companies, have gone through bankruptcy and come out stronger...and they did so without fucking the bondholders, taxpayers, and Chrysler's competitors.

Hey, guy, I don't care if bondholders get fucked, honestly.

Ah the compassionate Left. Fairness and equality for all...union members.

I really wonder why you spend so much time worrying that the rich won't have enough Polo Ponies and Dressage Horsies....

You think the bondholders where composed solely of rich guys? My goodness are you delusional.

The GM Bailout saved jobs.

Again, zero proof of this claim.

It saved my job. I'm happy it happened.

Well as long as you got yours, fuck those that had to pay for it...how very typical.

And frankly, as long as the GOP keeps on being of the party of "I've got mine, fuck you",

Oh the irony...can you taste it?!

they are going to keep losing elections

Just like in 2010?

 

[JoeB131]

Elfy, not plodding through your drivel, but the fact is, when you gamble on the stock market, you are gambling.

The stockholders all begged the government to come in and save it. They just got pissed when it wasn't a bailout for stockholders like TARP was. "YOu mean you are actually saving the company? WTF?"

Again, fuck them.

I'd rather have the people who make the cars see the benefits.

 

[idb]

No, but they benefitted from it.

If GM and CHyrsler fell, FOrd would have followed,

Horse hockey. You have zero evidence to support this claim. Logically, Ford would have captured massive market share if GM and Chrysler had been liquidated, which I do not believe would have been the case under a normal, structured bankruptcy. Whatever may have happened, you cannot state with certainty that Ford would have folded, no fucking way.

because companies like mine that provide components for cars would have gotten out of the automotive business.

IF Chrysler had failed, other companies would have taken their market share, including the possibility of a new entrant. Your company, or a competitor, will sell parts as long as demand exists for those parts.

You guys cannot spin this situation into "Obama saved us" when so many other companies, even larger companies, have gone through bankruptcy and come out stronger...and they did so without fucking the bondholders, taxpayers, and Chrysler's competitors.

Hey, guy, I don't care if bondholders get fucked, honestly.

I really wonder why you spend so much time worrying that the rich won't have enough Polo Ponies and Dressage Horsies...

The GM Bailout saved jobs. It saved my job. I'm happy it happened. So are most sane and sensible people.

And frankly, as long as the GOP keeps on being of the party of "I've got mine, fuck you", they are going to keep losing elections.

Romney probably wanted GM to go into bankruptcy so that Bain could buy it and ship it overseas, like Delphi.
No wonder he hates Obama !
Nevertheless, he and his cronies got a nice slice of the Tarp funds before packing up the factories and sending them off to China.

 

[eflatminor]

Again, fuck them.

Thank you for proving my point.

 

[eflatminor]

Romney probably...

I stopped right there if for no other reason than you could not possible have any fucking clue what Romney is going to or not going to do.

FAIL

 

[Skull Pilot]

Elfy, not plodding through your drivel, but the fact is, when you gamble on the stock market, you are gambling.

The stockholders all begged the government to come in and save it. They just got pissed when it wasn't a bailout for stockholders like TARP was. "YOu mean you are actually saving the company? WTF?"

Again, fuck them.

I'd rather have the people who make the cars see the benefits.

I don't gamble on the stock market.

Roulette is gambling, craps is gambling.

I research and make decisions based on many factors. You might throw darts at the board and buy whatever stock you land on but that's not how it's done.

 

[hjmick]

Thanks, President Obama....

NEW YORK (CNNMoney) -- The comeback continues at Chrysler.

The automaker reported third-quarter profits Monday that rose 80% versus a year ago, buoyed by strong sales in U.S.

Chrysler profits surge 80% - Oct. 29, 2012

It shouldn't have been done...

No way should the federal government been using taxpayer money to save private industry. No way no how.

 

[Wry Catcher]

I'd like someone to prove GM and Chrysler would have survived and flurished under the Romney non plan?

The FACT is the bailout worked, Americans have jobs they would not have if both had failed. There is only speculation by partisans that Romney's non plan would have saved them.

 

[whitehall]

The freaking hypocrites don't even understand what's going on. We listened for almost four years while the neo-socialists whined about corporate profits and now we see them celebrating fake profits in the auto industry as long as they can fool us long enough to vote for a junkie former community activist who ain't got a clue.