60 minutes great story on chrysler turn around

[moparstuart]

http://www.cbsnews.com/video/watch/?id=7403188n&tag=contentBody;storyMediaBox




   Sergio Marchionne   , dude is a workaholic 

[moparstuart]

http://www.cbsnews.com/8301-18560_162-57403476/chrysler-ceo-on-companys-remarkable-turnaround/?tag=contentMain;cbsCarousel

[41husk]

very interesting!

[nh_mopar_fan]

We taxpayers took a $1.3B bath on that deal. They will not be paying that money back.

[DC_1]

We taxpayers took a $1.3B bath on that deal. They will not be paying that money back.

And what do you think it would have cost the taxpayer to have all the people from those companies, as well as suppliers, unemployed?

Chrysler already paid the largest of the bailout money they took back - with interest I might add!

[moparstuart]

We taxpayers took a $1.3B bath on that deal. They will not be paying that money back.

And what do you think it would have cost the taxpayer to have all the people from those companies, as well as suppliers, unemployed?

Chrysler already paid the largest of the bailout money they took back - with interest I might add!

    if chrysler went under it would have hurt many supplier and killed off most . 

[nh_mopar_fan]

Yeah, I think you misunderstand. I think it's a great story and he seems like a smart and likable guy.

I object to the word games they play when they claim they have repaid "all the money" when what they really are saying is that they repaid the money from the 2nd round of bailouts.

Why be disingenuous like that?

http://money.cnn.com/2011/07/21/autos/chrysler_government_exit/index.htm

[DC_1]

Yeah, I think you misunderstand. I think it's a great story and he seems like a smart and likable guy.

I object to the word games they play when they claim they have repaid "all the money" when what they really are saying is that they repaid the money from the 2nd round of bailouts.

Why be disingenuous like that?

http://money.cnn.com/2011/07/21/autos/chrysler_government_exit/index.htm

Can't argue with that. It's definitely true that not everything that was given to try and keep Chrysler and GM a float will make its way back to the government, at least not directly. It will result in a lot of decent paying jobs continuing to generate income tax for the government so I still think it was better than the alternative. IMO

[nh_mopar_fan]

I agree. Although it's a shame that the investors got left holding the bag in the bankruptcy. What Daimler did to Chrysler was criminal.

[redmist]

It should have been purchased by another private entity just like any other company that goes bankrupt, and it would have been. Screw GM, and screw the Government.

I want my dividend check!  

ETA:  My guess is you will see GM FAIL again.

[DC_1]

It should have been purchased by another private entity just like any other company that goes bankrupt

Ya...cause that worked out so well for Chrysler when the "Private" equity firm Cerberus owned them.....


And let's not forget that they (at least Chrysler) were shopped around for 2 years at "Fire Sale" and "No Resonable Offer Refused" rates and not even the Chinese auto companies, who are dying to get into the North Amercan market, would touch them with a 10 foot pole.

[bakerhillpins]

And let's not forget that they (at least Chrysler) were shopped around for 2 years at "Fire Sale" and "No Resonable Offer Refused" rates and not even the Chinese auto companies, who are dying to get into the North Amercan market, would touch them with a 10 foot pole.

China probably would have bought the company, if they could have jettisoned the Unions. They aren't really equipped to "bargain" with employees that way. 

I have a lot of mixed feelings about the whole deal but rather than  ...  I digress.