Well, they did it
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Postmaster
Joined: Aug 2003
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From: Oakdale,Ca.
Well, they did it
Looks like the GM and Chrysler got a bail out package, subect to a restructurnig agreement, which has to be in place in the next few months.
I sure hope we don't hear about our tax dollars paying off some GM/Chysler CEO to the tune of a million bucks (or anything ($$) for that matter).
I sure hope we don't hear about our tax dollars paying off some GM/Chysler CEO to the tune of a million bucks (or anything ($$) for that matter).
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Joined: Jan 2007
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From: modesto,ca
ford has already re-structured their company. and asked for a 9 million line of credit until about june of 2009.
chrysler need money about 2 weeks ago, and another loan in march.
gm needed money by end of december, then more in march.
remember the government has been carring chrysler since amc folded, i think this was back in early 1980's.
me myself personally chrysler should be let loose, let it fold up. but thats my personal belief.
chrysler need money about 2 weeks ago, and another loan in march.
gm needed money by end of december, then more in march.
remember the government has been carring chrysler since amc folded, i think this was back in early 1980's.
me myself personally chrysler should be let loose, let it fold up. but thats my personal belief.
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Chrysler bailout
I watched the bailout hearing on T.V.
Chryslers C.E.O. was explaining how they had implemented a plan and was saving money and cutting costs. One thing that amazed me was:
We are saving money by cutting warranty claimes 29 per-cent.
The question I have is how do you cut a warranty claim at all unless you cheat the customer out of what is rightly due him.
The only way you can cut warranty claims any percentage is on a car that is sold. Unsold cars do not have a warranty in effect until sold.
Not one person asked Chrysler's C.E.O how they had managed to cut warranty claims 29 percent. They were in some kind of "rut" inquireing about electric cars that are more than likely 5 years in the future.
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Chryslers C.E.O. was explaining how they had implemented a plan and was saving money and cutting costs. One thing that amazed me was:
We are saving money by cutting warranty claimes 29 per-cent.
The question I have is how do you cut a warranty claim at all unless you cheat the customer out of what is rightly due him.
The only way you can cut warranty claims any percentage is on a car that is sold. Unsold cars do not have a warranty in effect until sold.
Not one person asked Chrysler's C.E.O how they had managed to cut warranty claims 29 percent. They were in some kind of "rut" inquireing about electric cars that are more than likely 5 years in the future.
03 Excursion
V-10 Limited
Black 4X4
Bone Stock
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I can only hope they are cutting warranty claims by 29% by improving quality. Otherwise, the buyer is getting screwed in some way.
Ford Parts Specialist
Joined: Nov 2006
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From: Simi Valley, CA
That is in-correct.Chrysler received a 1.5 billion dollar loan from the US Gov't in 1979 to avoid bankruptcy, then hired former Ford prez Lee Iacocca as CEO.
Chrysler paid off the Gov't loan in 1983.
Chrysler Corporation was purchased by Daimler-Benz in 1998.
In May of 2007, Daimler sold 80.1% of their Chrysler Division to Cerberus Capital Management LLC, retaining 19.9%.
AMC didn't fold, either. Renault bought AMC in 1979, sold it to Chrysler in 1987.
Originally Posted by f2501967
Ford has already re-structured
Ford has not completed their re-structure, and the reason Ford didn't ask for a bailout is...because they already got one.
In 2006, FoMoCo put up all the company assets to get a 23.8 billion dollar loan to stave off bankruptcy.
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Bill, you are incredible. Do you have a library handy or remember this stuff? Now that you mention all this I vaguely remember, through a fog, reading about it, but facts. Think I'll invest in some ginkobaloba. But first, I'll find out how to spell it.
Jag
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In reply to FastMovers question:
Wasn't Chrysler offering a lifetime warranty?
The answer is yes.
My neighbor and my son bought a Chrysler Van with lifetime warranties.
Now how can Chrysler save 29 percent on these warrantees, if they don't refuse 29 percent of legitment claimes.
Maybe it was just talk or miss speaking from the C.E.O. I really don't know.
I don't think I would buy a car from a manafacture that the C.E.O. openly said they were cutting warranty claims 29 percent without an explantion.
Wasn't Chrysler offering a lifetime warranty?
The answer is yes.
My neighbor and my son bought a Chrysler Van with lifetime warranties.
Now how can Chrysler save 29 percent on these warrantees, if they don't refuse 29 percent of legitment claimes.
Maybe it was just talk or miss speaking from the C.E.O. I really don't know.
I don't think I would buy a car from a manafacture that the C.E.O. openly said they were cutting warranty claims 29 percent without an explantion.
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From: Vallejo, CA
Like I said, I hope they improved quality by %29 or more so there are fewer repairs needed.
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