stockingfull wrote:1. Fix healthcare and level the int'l field.
2. The hedge-fund boyz were the only ones who wouldn't take a "haircut" voluntarily. Now they'll get one from a bankruptcy judge. They might not like it as well.
3. FIAT's been building much better metal than any of us remember from the old days. (I owned 2 in the 70's.) They've got competitive tech; in fact, they now own Ferrari. Be prepared to be impressed with what you see.
Fiat has problems of it's own. They have no market here without Chrysler, they won't have one with Chrysler.
Healthcare isn't broken. Coverage is broken. The current system gives us an edge we need. Full coverage will destroy buying power in our own markets.
There is no reason the hedgefund "boyz" should take a haircut voluntarily. They did their job by financing the dumbos running the company. Why should they give up any rights to capital voluntarily
(you say it as if it's a virtue). They maintained the value system of capitalism by not caving in to marxist demands. If a judge orders such a measure in liquidation so be it, but most bond holders stand to make more from a liquidation than a reorganization. You know the heirarchy of liquidation: labor payroll, trade creditors, bond creditors, preferred stock then common stockholders. They did the industry a favor buying up the distressed crap bonds that no one wanted. They took the risk now Obama is going to screw them in a move from Chavez' playbook.
Obama's bullcrap for today from this article,
This link is broken, either the page no longer exists or there is some other issue like a typo.
"No one should be confused about what a bankruptcy process means," Obama said. "This is not a sign of weakness but rather one more step on a clearly chartered path to Chrysler's revival."
What a giant lie. I am so sick of the rhetoric from this marxist clown. Bankruptcy is the ultimate weakness for a business. It means Chrysler can't manage its affairs. Obama should be a twelve step program leader, not a president.