Chrysler bailout shell game

[FishingBack]

http://news.yahoo.com/s/nm/20110524/ts_nm/us_chrysler_9

Chrysler paid back 7.6 bil in loans it took from the US and Canadian govs.

The US gov still owns 6.6% in common stock.
The canucks own 1.7% in stock

Fiat was a major part of the bailout and now has 46% ownership. They will have 51% before the end of 2011. Provisions are in place to allow Fiat up to 76% ownership.





So let me get this straight......we bail out the union workers so that Italian companies can benefit?


Nevermind the tone of the article saying that "every penny" was paid back, and later stating that the government doesn't expect to regain the 1.9 bil it paid to get the 6.6% ownership.

The article was clearly positive and uplifting, a "feather in the cap" of Obama.


But was the bailout the right thing to do? I say no. Ford Motor Corp didn't take a bailout and now they have to deal with the competition. Italian owned competition.

I just don't buy it.

[ddgravy]

You're on to the "rest of the story"

[Guisslapp]

http://news.yahoo.com/s/nm/20110524/ts_nm/us_chrysler_9

Chrysler paid back 7.6 bil in loans it took from the US and Canadian govs.

The US gov still owns 6.6% in common stock.
The canucks own 1.7% in stock

Fiat was a major part of the bailout and now has 46% ownership. They will have 51% before the end of 2011. Provisions are in place to allow Fiat up to 76% ownership.





So let me get this straight......we bail out the union workers so that Italian companies can benefit?


Nevermind the tone of the article saying that "every penny" was paid back, and later stating that the government doesn't expect to regain the 1.9 bil it paid to get the 6.6% ownership.

The article was clearly positive and uplifting, a "feather in the cap" of Obama.


But was the bailout the right thing to do? I say no. Ford Motor Corp didn't take a bailout and now they have to deal with the competition. Italian owned competition.

I just don't buy it.

Speaking of Fiat...they just opened a dealership in Atlanta. As far as I know, they only sell one model - the Fiat 500.

[JuBru]

I would much rather have Peugeot here instead of Fiat. Peugeot at least has some decent cars.



Didn't Fiat take their stake in Chrysler after the bailout?

[genpop]

http://news.yahoo.com/s/nm/20110524/ts_nm/us_chrysler_9

Chrysler paid back 7.6 bil in loans it took from the US and Canadian govs.

The US gov still owns 6.6% in common stock.
The canucks own 1.7% in stock

Fiat was a major part of the bailout and now has 46% ownership. They will have 51% before the end of 2011. Provisions are in place to allow Fiat up to 76% ownership.





So let me get this straight......we bail out the union workers so that Italian companies can benefit?


Nevermind the tone of the article saying that "every penny" was paid back, and later stating that the government doesn't expect to regain the 1.9 bil it paid to get the 6.6% ownership.

The article was clearly positive and uplifting, a "feather in the cap" of Obama.


But was the bailout the right thing to do? I say no. Ford Motor Corp didn't take a bailout and now they have to deal with the competition. Italian owned competition.

I just don't buy it.

Funny how you teapublicans are so much into capitalism except when you dont like it.

[hoppinmad]

Funny how you teapublicans are so much into capitalism except when you dont like it.

What I don't like about being a capitalist is having to tolerate socialist morons ....take you for example.

[FishingBack]

Funny how you teapublicans are so much into capitalism except when you dont like it.

Gov bailouts for foreign corporation benefit are not examples of capitalism. It's an example of distasteful government meddling in the private sector.

[genpop]

Gov bailouts for foreign corporation benefit are not examples of capitalism. It's an example of distasteful government meddling in the private sector.

yeah but you got one thing wrong. The bush bailouts wasn't for foreign corporation benefit, it was for Chrysler's benefit.

[FishingBack]

yeah but you got one thing wrong. The bush bailouts wasn't for foreign corporation benefit, it was for Chrysler's benefit.

Which isn't capitalism....jeesh man, you can't even follow basic conversation.

[genpop]

Which isn't capitalism....jeesh man, you can't even follow basic conversation.

didn't say that particular comment was about capitalism. Just correcting your lie. However, it is news to me that foreigners can't participate in our economy. Jeesh man, follow your OWN conversation.

[FishingBack]

Funny how you teapublicans are so much into capitalism except when you dont like it.

This is what you said.


Now what were you referring to if not the bailout?

[duckbillplatty]

This is what you said.


Now what were you referring to if not the bailout?

He has yet to pass the Turing Test.

[ddgravy]

http://www.foxnews.com/politics/2011...er-investment/ Lets just help out the good ole boys in Italy!

[counselingdawg]

We paid the Italians $1.6 BILLION of our tax dollars:bigcry:

[ddgravy]

We paid the Italians $1.6 BILLION of our tax dollars:bigcry:

That will pay for quite a few of those Bugga Bugga parties for PM