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Keyword: chrysler

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  • Remember when getting a new car was a celebration, instead of being a stigma

    06/18/2011 3:20:59 PM PDT · by DallasBiff · 41 replies · 1+ views
    I noticed that a co-worker had gotten a new car while seeing each other in the parking lot and congratulated the person. The co-worker said "thank you", but stated that I shouldn't tell anyone else. The co-worker in my opinion felt they had a Scarlett Letter attached to them for buying not only a new car but an import model.
  • Ohio Restaurant Closes One Week After Obama Mentions it in Speech

    06/09/2011 8:58:04 AM PDT · by mandaladon · 39 replies
    The Blaze ^ | 9 Jun 2011 | Jonathon M. Seidl
    TOLEDO, Ohio (AP) — An Ohio restaurant mentioned last week by President Barack Obama as an indirect beneficiary of the government’s Chrysler bailout will go out of business Sunday after a more than 70-year history. Co-owner Richard Lawrence of New Chet’s Restaurant in Toledo says business has fallen victim to the economy and the workplace smoking ban approved by Ohio voters in 2006. He told The Blade newspaper of Toledo on Wednesday that auto industry cutbacks also hurt. Lawrence says he used to deliver up to $300 in food per week to Chrysler Group LLC’s Jeep plant in Toledo, but...
  • The Real Cost of the Auto Bailouts

    06/05/2011 4:42:46 PM PDT · by rhema · 14 replies
    WSJ ^ | 6/6/11 | DAVID SKEEL
    The government's unnecessary disruption of the bankruptcy laws will do long-term damage to the economy. President Obama's visit to a Chrysler plant in Toledo, Ohio, on Friday was the culmination of a campaign to portray the auto bailouts as a brilliant success with no unpleasant side effects. "The industry is back on its feet," the president said, "repaying its debt, gaining ground." If the government hadn't stepped in and dictated the terms of the restructuring, the story goes, General Motors and Chrysler would have collapsed, and at least a million jobs would have been lost. The bailouts averted disaster, and...
  • Proud of losing $14B (another Obamanomics success story)

    06/04/2011 11:24:15 AM PDT · by Libloather · 8 replies
    NY Post ^ | 6/04/11 | Rich Lowry
    Proud of losing $14BRich Lowry Last Updated: 3:15 AM, June 4, 2011 It's a sign of grim times indeed when the Obama administra tion is touting a potential $14 billion loss to the taxpayers as a great economic success. The White House is running on its auto bailouts as courageous acts that saved the industrial Midwest. It's a telling point of pride. In bragging about the bailouts of GM and Chrysler, the administration is boasting of a process shot through with lawlessness and political favoritism -- not to mention reckless disregard for taxpayer dollars. The administration believes it trumps all...
  • Chrysler Comeback Made Possible ONLY by Completely Ignoring Dear Leader's On-the-Spot Guidance

    06/03/2011 6:56:15 AM PDT · by Reaganite Republican · 9 replies
    Reaganite Republican ^ | June 3, 2011 | Reaganite Republican
    The Pickups and SUVs Obama had wished culled  from the lineup in 2009 now drive sales, profitablity Marchionne pretending to listen to statist bonheads FIAT has been making a lot of positive news over the last week, first by paying off all $5.9B of the US/Canadian auto bail-out loans to the US/CN Treasuries (six years early), then three days later announcing the acquisition of the entire US Government stake. This provides FIAT-and-Chrysler CEO Sergio Marchionne with complete control of Chrysler, thus ridding himself and his companies of the Obama Administration's unhelpful influence.Obviously Obama could use anything that resembles an economic success story right about...
  • Chrysler to sever US government ties

    06/02/2011 7:00:28 PM PDT · by Free ThinkerNY · 46 replies
    Associated Press ^ | June 2, 2011
    DETROIT (AP) -- Chrysler Group will soon sever its ties with the U.S. government. Italian automaker Fiat agreed Thursday to buy the U.S. Treasury's 6 percent interest in Chrysler for $500 million. Once the deal closes, the government will no longer hold a stake in the auto company.
  • A rescue worth fueling (Tax-Cheat Geithner Defends GM, Chrysler Bailouts)

    06/01/2011 10:46:16 AM PDT · by mojito · 3 replies
    WaPo ^ | 5/31/2011 | Timothy Geithner
    On June 1, 2009, General Motors filed for bankruptcy, backed by $30 billion in support from the federal government. The same day, in the same New York courthouse, a judge approved Chrysler’s plan to forge an alliance with Fiat and emerge from bankruptcy as a restructured business with an uncertain future. Two years later, all three American automakers have returned to profitability, the industry has added new shifts and 115,000 jobs, and GM and Chrysler have returned more than 50 percent of the government’s investment. The industry is mounting one of the most improbable turnarounds in recent history.
  • Govt to lose $14B of auto bailout funds

    06/01/2011 12:08:11 PM PDT · by Nachum · 16 replies
    Associated Press ^ | 6/1/11 | Staff
    Washington – The Obama administration said Wednesday that the government will lose about $14 billion in taxpayer funds from the bailout of the U.S. auto industry. In a report from the president's National Economic Council, officials said that figure is down from the 60 percent the Treasury Department originally estimated the government would lose following its $80 billion bailout of Chrysler and General Motors in 2009. The report's release coincides with the administration's efforts to tout the bailout's role in the revitalization of the U.S. auto industry after last week's announcement that Chrysler is repaying $5.9 billion in U.S.
  • Government May Lose $16 Billion on Auto Bailout

    06/01/2011 12:19:37 PM PDT · by Sub-Driver · 13 replies
    Government May Lose $16 Billion on Auto Bailout By JOSH MITCHELL WASHINGTON—The White House said Wednesday that taxpayers may never recover about $16 billion of the bailout money extended to the auto industry in 2008 and 2009, in a new report designed to tout the industry's turnaround from wide-scale bankruptcies. The White House released the report, "The Resurgence of the American Automotive Industry," ahead of President Barack Obama's trip Friday to a Chrysler Group LLC facility in Toledo, Ohio. The report said that of the $80 billion in bailout money for the industry, less than 20%, or $16 billion, may...
  • DNC Chairwoman Bashes GOP For Supporting Foreign Car Companies, Owns Foreign Car

    05/28/2011 10:13:22 AM PDT · by 2ndDivisionVet · 25 replies
    Mediaite ^ | May 27, 2011 | Josh Feldman
    It’s a general rule of thumb that whenever a politician says something negative about their opposition, they better not be guilty of the same thing, otherwise they would end up looking incredibly foolish. The latest pol to suffer from this is Democratic National Committee Chairwoman Debbie Wasserman Schultz. Since she began her tenure as head of the DNC, Wasserman Schultz has gone on the offensive against the Republicans. She accused the GOP of “waging war on the unemployed” and slammed their budget proposal as a “path to poverty.” But her latest attack on the opposition backfired in a major way....
  • Forget the spin. Taxpayers still on the hook for auto bailouts

    05/28/2011 4:06:57 PM PDT · by Hojczyk · 23 replies
    Washington ^ | May 26,2011 | Examiner Editorial
    President Obama and two of his biggest union allies -- the United Auto Workers and the United Steelworkers -- plan to make the automotive bailout "a central issue" in the 2012 election, Politico reports. Republicans should view this as an opportunity. No issue better illustrates the deception, cronyism, disregard for the rule of law, and bad economic decisions of this White House than the auto bailouts. On Tuesday, Obama announced that Chrysler had paid back all "outstanding loans to the U.S. Treasury and American taxpayers." This is highly misleading. American taxpayers still own a 6.6 percent stake in Chrysler, which...
  • 'We brought the American auto industry back from the brink of extinction': brags Biden

    05/28/2011 9:30:58 AM PDT · by Do Not Make Fun Of His Ears · 32 replies
    UK Daily Mail ^ | 5/28/11 | Daily Mail Reporter
    Detroit is no longer stuck in first gear. At least that's the message from Vice President Joe Biden, who trumpeted what he calls an impressive comeback for the U.S. auto industry. Mr Biden credited the Obama administration's intervention for the American auto industry's recovery from 'the brink of extinction' and pointed to Chrysler's early repayment of the federal loan that saved it from disaster. Mr Biden said: 'This announcement came six years ahead of schedule - and just two years after Chrysler Corp. emerged from bankruptcy. 'It's a sign of what's happening throughout the American automobile industry'. The announcement Saturday...
  • Fiat to gain Chrysler majority by buying U.S. stake

    05/27/2011 3:07:13 PM PDT · by markomalley · 7 replies
    Reuters ^ | 5/27/11
    Fiat SpA (FIA.MI) plans to exercise an option to buy the U.S. Treasury's stake in Chrysler, which paves the way for the Italian automaker to clinch a majority share in the company by early next month. Fiat notified the Treasury of its intent on Friday. The purchase price will be based on the equity value of Chrysler agreed by Treasury and Fiat within 10 business days. If Fiat and Treasury cannot settle on the price, the amount will be determined by two of three investment banks appointed by the company and the U.S. government. The option would allow Fiat to...
  • The fake Chrysler loan payoff

    05/27/2011 9:09:43 AM PDT · by Hojczyk · 11 replies
    Hotair ^ | May 27,2011 | Bruce McQuain
    This week Chrysler went through the same sort of shenanigans American taxpayers have already spent more than $13 billion bailing out Chrysler. The Obama administration already forgave more than $4 billion of that debt when the company filed for bankruptcy in 2009. Taxpayers are never getting that money back. But how is Chrysler now paying off the rest of the $7.6 billion they owe the Treasury Department? The Obama administration’s bailout agreement with Fiat gave the Italian car company a “Incremental Call Option” that allows it to buy up to 16% of Chrysler stock at a reduced price. But in...
  • 2D Circuit Court Acts Like Thugs To Shield Judicial Fraud on The Court in Chrysler Dealers Case.

    05/25/2011 11:33:51 AM PDT · by rxsid · 7 replies ^ | 05/25/2011 | Leo Donofrio
    "2D Circuit Court of Appeals Acts Like Thugs To Shield Judicial Fraud on The Court in Chrysler Dealers Case. The 2d Circuit Court of Appeals has issued Rule 38 sanctions against Steve Pidgeon and I, and they have refused to offer any review of the merits of our appeal, other than to say it was “utterly frivolous”: “As to the merits of Appellants’ claims, they are utterly frivolous. We reject these claims on the merits for substantially the same reasons set forth by the district court below.” No discussion of the facts at all. Our proofs that the Bankruptcy Court...
  • Chrysler doesn't repay bailout money to Treasury

    05/24/2011 11:01:20 AM PDT · by keat · 15 replies
    Reuters ^ | Tue May 24, 2011 1:25pm EDT | Glenn Somerville
    Washington (Reuters) - The Treasury department said on Tuesday that automaker Chrysler Group LLC has repaid $5.1 billion in bailout loans and ended its right to draw a remaining $2.1 billion. The government had committed a total $12.5 billion to Chrysler under the Troubled Asset Relief Program, known as TARP, and the company has now returned more than $10.6 billion of that in principal, interest and canceled commitments. Treasury continues to hold a 6.6 percent common share stake in Chrysler, which now is on firmer ground financially and is deepening its ties to Italian automaker Fiat SpA. "Treasury is unlikely...
  • The Worst Cars On The Road

    04/24/2011 3:43:16 PM PDT · by Nachum · 94 replies
    yahoo ^ | 4/24/11 | Hannah Elliott , Forbes
    When it comes to quality, efficiency, reliability, safety and overall value, these vehicles bring up the rear. By all accounts, Detroit's Big Three automakers have begun producing better-made, longer lasting, more efficient vehicles. It's a distinct change from the 1990s and early 2000s, when they fell behind their European and Asian counterparts in each category. "This change is not even a gradual thing," says Christine Overstreet, an automotive consultant and director of Heels and Wheels. "It's like they've said, 'OK, we really want to step it up, we really want to compete, we're ready.' After past years of being so...
  • Obama’s Stupid Car Tricks

    04/23/2011 6:59:00 PM PDT · by george76 · 31 replies
    National Review ^ | April 14, 2011 | Henry Payne
    Fiat just earned 5 percent more ownership in Chrysler for creating a product no one has bought yet. Payment for non-performance. If you suspect this is government’s benchmark for success, you’d be right. More precisely, this is how the Obama administration measures success. Let’s rewind the tape. Under King Obama’s gift of 20 percent of Chrysler to Fiat in 2009, His Highness decreed that Fiat would assume another 5 percent of the company upon production of a 4-cylinder engine in the United States. Not selling it. Simply producing it. ... But wait, there’s more. The Italian automaker will gain yet...
  • Chrysler To Join Honda In Selling Natural-Gas Cars...In 2017

    04/14/2011 10:30:08 AM PDT · by AJFavish · 19 replies
    GreenCarReports ^ | April 14, 2011 | John Voelcker
    With Chrysler's soon-to-be-owner Fiat successfully selling natural-gas vehicles (NGVs) in Europe and South America, analysts have suggested that Chrysler would develop and sell natural-gas cars and trucks as one element of its green strategy. Not 'til 2017? Now the company has confirmed it. Bob Lee, Chrysler's vice president for engines and electrified propulsion systems, said Monday that, "the technology is very actively being worked on."
  • How The Detroit News Sold Its Soul

    03/21/2011 1:06:12 PM PDT · by KingOfVagabonds · 28 replies
    Jalopnik ^ | 3/16/11 | Ray Wert
    Scott Burgess resigned today as The Detroit News auto critic after his editors bowed to a request by an advertiser to water down his negative review of the Chrysler 200. This is why we can't have nice reviews anymore.