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01/04/2009 10:06 PM ID: 75979 Permalink   

US Goverment Gives Chrysler US$4 Billion Emergency Loan

 

The US big-three carmaker Chrysler has been given a US$4 billion emergency loan to prevent it from going under. The money was part of the US$13.4 billion rescue plan approved by the US government last month for Chrysler and General Motors.

Bon Nardelli, Chrysler's CEO, said: "This initial loan will allow the company to continue an orderly restructuring." Carmakers in the US have been offered a bailout package if they can prove they have a viable business by the end of March.

 
  Source: news.bbc.co.uk  
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  20 Comments
  
  Thanks for nothing worthwhile , General Motors  
 
I'll keep my Nissan.
 
  by: white albino   01/04/2009 10:53 PM     
  The stupid  
 
(I'd sure like to use the right language and call them what they are) politicians in the White House and Congress are corporate socialists. They despise the average American on Main Street, but steal their tax money and give it to felons and degenerate capitalists. There will be a hot spot in hell for all of them.
 
  by: JonSmith     01/04/2009 10:58 PM     
  @albino  
 
and it's people with attitudes like yours that have helped to create an environment where thousands are losing jobs as more people turn to purchasing products manufactured overseas. Like living in this country? Try supporting it sometime.
 
  by: theavenger8     01/04/2009 11:01 PM     
  Bah  
 
The 19th Century management of the automakers continued building tanks instead of cars people need. They don't deserve a bailout for gross mismanagement and golden parachutes. I say let them fry. They can keep their ugly, overpriced and oversized junk. I never owned an American made car that didn't burn oil. I had to add at least a quart between changes. I've never had an import that burned oil. All that bailout money for crooked bankers and automakers would have paid for health-care and jobs programs for American citizens. Why reward pyramid, Ponzi schemes and gross mismanagement with huge sums of government money?
 
  by: JonSmith     01/04/2009 11:13 PM     
  @theavenger8  
 
From an Americans perspective, I can see your point in supporting the country flag waiving and all of the related hooplah that goes with it.

However....

From a consumers perspective, there's no reason to pay for an American product when it's rife with engineered obsolescence, technically inferior, over-priced and driven by corporate mismanagement and the unwillingness to go greener.

But you live in a free country. Where your car salesman is American. Your dealership is American. The marketing funds go to American companies. All taxes for all said business ventures go to the American government.

Thus when you buy an imported vehicle, it is still mainly supporting the American economy sans manufacturing costs.

If your wish is purely to waive a flag, and own an inferior product, buy American.
 
  by: backin1775     01/04/2009 11:16 PM     
  @theavenger8  
 
For years I've stated that I would settle for an American made car that was as rugged as the one my Grandfather bought.

Didn't have AC, power windows, a light in the ashtray, four headlights (two was enough), and 10 percent of its weight nothing but cheap plastic.

It was only a few years back when GM had to recall 240,000 new vehicles and rebuild the defective transmissions at their own expense. It seems they were trying to use non-metal rotating parts in the transmissions. FAIL!

I swore I would never buy anything Detroit-made again, after hearing about that cheap shot. I see no reason to throw away good money on a mediocre product.
 
  by: white albino   01/04/2009 11:51 PM     
  theavenger8  
 
I would rather buy a japanese car as well. American cars are pieces of crap. Japanese cars get better gas milage and have a better life span than any American brand car I've ever owned.

Toyota > Ford
 
  by: orthiad   01/05/2009 12:01 AM     
  Reminds me of Volkswagon (VW)  
 
This is how VW, one of the now largest car companies in the world got started. It was also founded with government money. Its scary for me as i see more and more parallels to the new US politics and the third reich. Reichstagsbrand (9/11), Heimatschutz (Homeland Security), Volkswagen (Bail-outs), Autobahnbau (Infrastructure Projects) whats next?!
 
  by: evilrat   01/05/2009 01:34 AM     
  @evilrat  
 
WWIII


Screw GM and Chrysler. You build a crappy product, fail to adapt and change with the times and you sink into oblivion. The title should read, US Government steals $4 Billion from poor citizens and gives it to rich corporate executives. Adapt or perish. Does anyone here own a Chrysler….anyone???
 
  by: valkyrie123     01/05/2009 04:18 AM     
  @backin, orthiad and others  
 
you guys are unbelieveable.

lets start with this statement from backin that is more then incorrect and has more holes then a prostitute.

"From a consumers perspective, there's no reason to pay for an American product when it's rife with engineered obsolescence, technically inferior, over-priced and driven by corporate mismanagement and the unwillingness to go greener. "

have you been to a GM dealer? have you actually driven or rode in a brand new gm? have you went to gm.com and looked at any of there line ups? lets start with there build quality and technology, there build quality has done nothing but got better, with increased warranty terms and so on. they also have more features and gadgets then a science and surplus store, sit in a brand new gm car and see.

lets talk this CRAP argument that i keep hearing about lets say GM not going green, again you know nothing about GM, they have what they call the MVP OF MPG, more cars then any other car maker that gets over 30 mpg, thats just the tip of the iceburg, with the chevy volt coming out, with cars running on biofuels like e85 (which isnt a good thing in my eyes but none the less still considered "green") lets also talk about how they have HYBRID TAHOES and HYBRID ESCALADES, getting OVER 22mpg in REAL WORLD DRIVING, thats pretty incredible on the mpg stand point for a huge SUV, you may not call this "green" but for americas call and lust for SUVs and pickups it definitely makes them the leader in that market, you can argue well why cant they compete with the pruis MPG standings and so on, heres the thing they have other things on there mind right now but my guess is, is that if they fitted a chevy aveo or cobalt with a hybrid motor it would easily get into pruis mpg range, chevy has a non hybrid cobalt XFE that gets over 36mpg and thats regular gas.

i never even got on ford who in europe has a 65mpg festiva eco that is NOT coming to the US due to our restrictions and the environmentalists stand point on diesel itself. Ford also has the ford fushion hybrid coming out that beats ALL the leading hybrids in mpg in the sedan model line up ( it beats the toyota camry hybrid, the nissan altima hybrid, themalibu hybrid) gettings 34 mpg in the city.

i could go on about how the BIG 3 HAVE been going "green" for some time now and have shifted there buisness to what the market wants, cars that get higher mpg, look at gms line up and tell me its not consumer based with so many smaller cars that get great MPG.

lets talk price why, yes a gm or ford or dodge could be higher priced then other car makers, but when compared to the other automakers like honda and toyota WHO DO NOT HAVE UNIONS and ARE NOT STRADDLED WITH UNION COSTS they can sell cars at a lower price, if gm was to sell there cars at that price they would be taking losses.

a typical honda or toyota employee gets about 30-40 a hour with everything included a typical UAW worker gets about 70-80 dollars a hour with there cream puff health care plan, pension, precious job bank and everything else factored in, so thats a big big price to pay when your paying for 1 employee to honda or toyotas 1, on top of that GM is also paying for 5 times more retirees then they actually have working for them..

so before you start spouting off about inferior this and greener that, please get your facts straight.
 
  by: cray0la     01/05/2009 06:46 AM     
  @valk  
 
i allmost got a chrysler in mid 08

it was a 07 300c hemi fully loaded leather, wood wheel and everything it could possibily come with, but i passed because it was simply not needed on my part.

i drive a luxury GM car with a northstar v8 motor and its a great car it would be hard to part from, along with great mpg with a v8.

im very happy with gm.
 
  by: cray0la     01/05/2009 06:48 AM     
  @Cray0la  
 
I've spent 33 years working on nuclear submarines, the backbone of America' defense system, and neither nor anyone else receive the salary and benefits auto workers get. We only see that in our dreams. So when it becomes time for the cutting of the nuts, financially speaking, I cannot scrimp on the mortgage, taxes, the kids education, food and utiilities, but I can buy a cheaper reliable car.
I did that. A Nissan. End of story.

 
  by: white albino   01/05/2009 08:53 AM     
  @Cray0la  
 
Gotta say...I'm a chevy man myself. There is something about being under one that just makes you feel like a man. I recently bought a '99 blazer. Pretty much brand new because the motor had 81k miles on it. I got a great deal on it from a friend just $3500. Anyway we pretty much switched the entire system over to high voltage, performance coil, in-line fuel pump with 80gph, high voltage plugs, ignition, etc...it was about a $2000 all together, plus we cut the catalytic converter off and put another exhaust pipe in there to get more exhaust away from the motor faster...all in all we increased my mpg from 21 to 35 mpg. I kid you not. However; I love Chevy and I love working on them, but I can understand people who neither have the time nor the interest. And I can also understand who for some people 35mpg is not enough after $2000 in work. Foreign cars are just more fuel efficient the VW Bugs are getting 50 mpg. What happened to compressed air technology?
 
  by: blac   01/05/2009 10:17 AM     
  @Cray0la  
 
I bought a Chevy S-10 ZR-2 mini pickup and it was the biggest LEMON I have ever owned. It started out at 15 mpg when it was supposed to be getting 22mpg. The dealer told me the engine just needed to be broken in. Over the next year I was at the dealer over a dozen times as the mileage dropped steadily to 6.7 mpg. YES 6.7 miles per gallon and they refused to do anything about it. Worse than a Hummer, even worse than a 6 ton Unimog for a mini pickup. In Minnesota there is a giant loophole in the lemon law. If the dealer doesn’t acknowledge that there is a problem you cannot sue. I purchased the extended 5 year 100K mile warranty and it was worthless. I returned the LEMON to the dealer and told them to keep it. I was out $7000. I will never buy another GM product and they can all rot in hell. I don’t want another dime of my money going to these thieves and I will continue to let the world know what a bunch of low life scum suckers they are until I get my money back with interest and an apology. F GM!
 
  by: valkyrie123     01/05/2009 02:12 PM     
  small government - free market?  
 
Let them crash, something will arise anew in their wake. Do no complain about the sectors, jobs, and towns that will go under because of it, it is a part of the process YOU wanted, a society that YOU live in. I love it when "Capitalist" Americans get their panies in a bunch when teh big three are continually being outcompeted by outside auto manufacturers. If you can't compete, you die. Welcome to capitalism on a global scale.
 
  by: rj712   01/05/2009 04:16 PM     
  Lovin' it  
 
Funny when cray0la brags about American made cars getting 20 MPG when over seas if it isn't 40+MPG it isn't going to cut it.

The market has spoken, unfortunately the fed is screaming so that it may cover up what the market had said.

All this "america #1 yah!" attitude just has to stop, no wonder why foreigners hate us. Did all the good Americans move abroad? it feels like I'm stuck in a monkey cage at the zoo.
 
  by: Trevelyan   01/05/2009 04:47 PM     
  @evilrat  
 
Um, actually VW started as a propaganda tool/incentive to socialise indistrialisation.

This is a federal loan to prevent job losses.
 
  by: H. W. Hutchins   01/05/2009 06:46 PM     
  Where is my recept for  
 
my tax return...
i did not approve this...
i have owned both chevy and dodge and and love them both.
hell my chevy cobalt got me home here in the mountains with almost bald tires miricle.. really. Thanks Great spirit
 
  by: spinttt   01/06/2009 07:31 AM     
  @Hutchins: human shields  
 
Before I start I'd like to say, I feel uneasy about jobs losses. But I don't know if bailouts will do anythings except delay the inevitable.

This is an example of capitalist human shields.
"Give us money for our crap business practices and embezzlement - or john Q loses his job".

When they get the bailout - they *will* take a massive cut by merely keeping their salaries.

But if they don't get their money, they *will* go out of business with massive job losses. The parasitism of the corporate boards and backhanders are is embedded fully into America's economy.

You will have to feed the parasite to save the patient.
 
  by: redstain   01/06/2009 10:15 AM     
  funny story  
 
i get this thing in the mail since i own a dodge nitro. its about a service called uconnect auto web. its basically internet in your car. so i call up wanting to hear their sales pitch. knowing what they have to work with (the speed is just 3g, just like an htc or iphone. nothing faster)

so i call my dealership where i got my truck, i get put on hold to 4 diff departs and was on hold a total of half an hour. i then hung up and started over. they put me back to the parts department with some guy who sounded like he picked up the phone when i was getting transfered in and was stuck with me.

so as im talking to him asking about the service. i said no one knows about this, do you? he says well we werent notified about this. this is for '09 vehicles...

i said how do u know that, he says cause im reading mopar's website right now...

so i partial cover the phone and tell my co-work "this is why the auto industry is failing"
*drum crash*

then the guy goes, hey i heard that! and we both laugh.

but seriously internet in your car is a simple as a linksys wireless lan router that accepts the sprint web pcmcia slot card. but all you get is 3g speed split into multiple users... which means slow service for anymore connections past 1 user...
 
  by: DRK   01/06/2009 01:26 PM     
 
 
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