A debt deal is struck, giving the UAW 55% of Chrysler common stock. Chrysler is now dead, just a matter of time.
http://www.foxnews.com/politics/first10 ... ity-share/
UAW Wins Pyrric Victory: Chrysler Living Dead
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Jet Black
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UAW Wins Pyrric Victory: Chrysler Living Dead
God Bless Us, Every One.
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CoolBreeze
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Re: UAW Wins Pyrric Victory: Chrysler Living Dead
True. Every Union takeover of a corporation in the past has always ended in disaster, as far as I can recall. However, in this case, God himself couldnt save Chrysler... the PeaPod company.
"I know I've got a lot against me: I'm White, I'm Protestant, I'm hard working. Don't you have an Amendment to protect me"? Archie Bunker
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Mike
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Re: UAW Wins Pyrric Victory: Chrysler Living Dead
As I posted in the other thread, no way in hell a deal to avoid bankruptcy that leaves their SECURED creditors, (ie, bond holders) getting 10 cents on the dollar while those without a secured position getting ownership of the company is legal.
I expect they get sued. The government, having a vested interest in this, in all irony, would need to recuse itself from such a case. I don't see that happening.
I expect they get sued. The government, having a vested interest in this, in all irony, would need to recuse itself from such a case. I don't see that happening.
"Show me just what Muhammad brought that was new and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached"
-Manuel II Palaiologos Byzantine Emperor (1391-1425)
-Manuel II Palaiologos Byzantine Emperor (1391-1425)
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Big Media
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Re: UAW Wins Pyrric Victory: Chrysler Living Dead
We will begin seeing 2009/2010 model Chryslers at yard sales this weekend right beside granny's used rollover minutes. IMO, with the exception of Jeep and the Caravan, that's where they belong.