Chrysler will file for bankruptcy, an Obama administration official confirmed to CNN today. The filing will follow failed efforts to reduce the amount of money the troubled automaker owed. Bankruptcy won't mean the end of Chrysler, CNNMoney reports. The administration plans to use the process to merge Chrysler with Italian automaker Fiat.

http://money.cnn.com/2009/04/30/news/compa...sion=2009043009

 

so, how is fiat seen by the masses?- having not grown up around fiat, I have no idea what their reliability and stuff is like

Is this going to be a good thing for chrysler? just good lord, please don't make another pt cruiser

 

I will defend domestics from alot of the muckraking thrown on these boards, but Chrysler really needs to just fizzle out... but leave a few vipers .

 

The last euro lords of Chrysler are a large part of why they are in such bad shape product wise. I wonder if the Italians will be any better. When Chrysler and Mercedes hooked up in the late 90s Chrysler really had something to offer beyond the Jeep name. They actually had good technology too. I'm not sure that's true anymore. I hope I'm wrong.

 

So is Fiat buying Chrysler for the name? The dealership network/infrastructure? I hope the latter, because I'm not sure Chrysler is thought of as 'high quality' or 'reliable' by lots of people imho.

 

The bondholders refused to be screwed and forced backruptcy.

I fully expect the same thing will happen at GM (the current GM/government plan would also steal billions from bondholders).

 

The Jeep name. However, I forgot the access to a ready US dealers. That would be a very good way for them to return to the US market. If their stake in Chrysler is cheap enough, they might have reasoned that it cost less to buy into Chrysler and simply lose that money but gain the dealers vs trying to resetup their own dealer network!

 

I can't blame the bond holders. These bond holders are often institutions and other groups that hold investments of everyday people, not just "fat cats" who can take the hit.

 

Right... these are banks, retirement plans, and funds that have a right to recover the highest percentage in a settlement. Some have even invested in CDS's to insure their investment and it pays off with a bankruptcy.

It is foolish and fraudulent to expect these investors to 'sacrifice' to save a corporation and union that have made bad decisions.

The government should not be involved... we have laws and procedures to handle restructuring of corporations.

 

Chrysler... I kind of like.

I've always thought they actually injected a little design into their cars - even in the 90s when GM/Ford were scared. Also, they were the first to really kick off the RWD thing again here (Magnum, Charger, 300C, Challenger, etc). And of course, thanks to Chrysler the Viper exists (making it the second production American sports car since 1958).

Oh well.. its not surprising. While their cars look great and have balls, especially those equipped with the 5.7 and 6.1L Hemis, the interiors are... disgusting and the build quality is still questionable.