Fri Apr 27, 2012, 08:18 AM
LuckyTheDog (6,837 posts)
Tom Walsh: Nearly 3 years after bankruptcy, Chrysler soars
When will Sergio Marchionne's gravity-defying Chrysler machine come careening back to Earth?
Not anytime soon, judging by its first-quarter profit of $473 million, more than four times last year's number.
Not yet three years removed from a taxpayer bailout, forced bankruptcy and a Hail Mary restructuring under the wing of Italian automaker Fiat and CEO Marchionne, Chrysler continues to post remarkable numbers.
The auto bail-out worked. And yes, I know there are people here who would rather have seen it not happen because of the concessions the workers had to make. People on the right would rather have seen it not happen because of their oddball commitment to putting free-market ahead of the good of the country.
But... NOBODY can honestly say that the rescue of GM and Chrysler was a failure. It was, in fact, a stunning success -- better than could have been hoped for.
3 replies, 1021 views
Tom Walsh: Nearly 3 years after bankruptcy, Chrysler soars (Original post)
Response to LuckyTheDog (Original post)
Fri Apr 27, 2012, 08:21 AM
Yo_Mama_Been_Loggin (14,799 posts)
2. Rmoney would have let them go bankrupt.
And largely out of business since no private investor(s) would have bailed the company out.
Note that Rmoney was okay with TARP where around a trillion was spent on that fiasco.
Response to Yo_Mama_Been_Loggin (Reply #2)
Fri Apr 27, 2012, 12:55 PM
PoliticAverse (16,248 posts)
3. GM and Chrysler did go bankrupt. And Chrysler was purchased by another company.
The GM and Chrysler bailouts are examples of socializing the losses, privatizing the profits.