Creditors file to halt chrysler restructuring - DFWstangs Forums
 
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post #1 of 8 (permalink) Old 05-20-2009, 03:46 PM Thread Starter
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Creditors file to halt chrysler restructuring

Apparently, obama, you can't just wave away the rule of law and divvy the company up amongst your buddies and campaign supporters LOL...... some lenders might get pissed off.

IMO chrysler is done. They don't have the time to wait out a court battle.

Quote:
Three of Chrysler’s secured creditors have asked a New York court to halt the carmaker’s Chapter 11 restructuring on the grounds that it violates their legal rights and the government’s authority under the troubled assets relief programme.

The three – all Indiana state pension funds – are among a group of 46 creditors that had appeared to back away this month from efforts to derail the process under which a “new” Chrysler would emerge from bankruptcy protection by July 1. The new entity would be owned by a union healthcare trust, the US government and Italy’s Fiat.
http://www.ft.com/cms/s/0/b3c8beb8-4...44feabdc0.html
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post #2 of 8 (permalink) Old 05-20-2009, 03:53 PM
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Chrysler needs chapter 7. The liquidation of one of the big three would give GM and Ford the best opportunity to survive. The real downside though is that the Chinese would probably buy the leftovers.
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post #3 of 8 (permalink) Old 05-20-2009, 04:07 PM
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LOL

I hope they win, I was never in support of the government buying American companies with tax dollars and splitting them up as they see fit. The whole thing stinks of election favors for the auto unions, and other "preferred" campaign contributors.

It's funny that the people screaming that Republicans are in the pockets of companies / investors / special interest groups don't seem to be paying attention to the other parties doing it too.
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post #4 of 8 (permalink) Old 05-20-2009, 04:24 PM
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If they went Chapter 7...who gets the cummins motors? If Ford plays their cards rights and snatches up a partnership and dumps the powerstroke...they might rule the market.

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post #5 of 8 (permalink) Old 05-20-2009, 08:39 PM
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You mean Obama can't just make things happen despite the law? Odd. Has someone told him?
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post #6 of 8 (permalink) Old 05-20-2009, 08:44 PM
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Quote:
Originally Posted by 8mpg View Post
If they went Chapter 7...who gets the cummins motors? If Ford plays their cards rights and snatches up a partnership and dumps the powerstroke...they might rule the market.

Shit, no might to it, they would. You put a Cummins in those pretty assed Fords and you've got ftw written all over the place.
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post #7 of 8 (permalink) Old 05-20-2009, 08:52 PM
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Quote:
Originally Posted by 8mpg View Post
If they went Chapter 7...who gets the cummins motors? If Ford plays their cards rights and snatches up a partnership and dumps the powerstroke...they might rule the market.
thats like having Park Place and Boardwalk ftw...

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post #8 of 8 (permalink) Old 05-20-2009, 08:57 PM
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Quote:
Originally Posted by forever_frost View Post
You mean Obama can't just make things happen despite the law? Odd. Has someone told him?
Yep, and chances are, he doesn't give a flying fuck.

A 6.7 Cummins with Ford's easily by-passable DPF would be tits

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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