Chrysler repays $7.6 Billion in Bailout Money

[Kingfisher]

Well good for them. Now how about making better cars. They suck!

 

[georges]

1968-1971 b-body and e-body mopars for me either with 440-6, 440 magnum or 426 hemi, no modern mopars for me.

 

[CapitalOne]

always thought the 300c was pretty dope

 

[Hot Mega]

Gubment Motors....:tinhat:

 

[meesterperfect]

1968-1971 b-body and e-body mopars for me either with 440-6, 440 magnum or 426 hemi, no modern mopars for me.

fair enough but they did a pretty great job making a medern version of it with the challenger.

always thought the 300c was pretty dope

you mean dopey?
to each his own but something just don't look right about that one.

 

[Hot Mega]

Things are moving in the right direction at long last for all of the Big 3 US automakers. First Ford, then GM and now Chrysler. Definitely a good sign for the economy.

In related news....

Hiring wave by GM will affect all of state, even nation

A General Motors Co. news conference at a transmission plant in Toledo, Ohio, on Tuesday wasn’t just about announcing a $204 million investment that will save 250 jobs.

It also was a proud, almost defiant demonstration by GM, union and Ohio officials that the federal government’s controversial $50 billion bailout of GM was money well spent.

GM Chairman Dan Akerson said in addition to the investment in the Toledo plant, the automaker in the coming months will invest $2 billion for upgrades at 17 factories that will create or preserve 4,000 U.S. jobs.

As many as 2,000 jobs reportedly could be added at the Detroit-Hamtramck plant, where the Chevy Volt is built.

More details will be announced in the next several months, officials said. GM earlier this spring announced a $15 million to $20 million investment in its Wyoming valve-train parts plant at 2100 Burlingame Ave. SW that employs 540.

Speaking at the Toledo factory, United Auto Workers vice president Joe Ashton praised President Barack Obama for financing GM’s 2009 bankruptcy reorganization “when other people didn’t think this date would happen.”

http://www.mlive.com/auto/index.ssf/2011/05/hiring_wave_by_gm_will_affect.html

 

[monicasilver]

Not that this is a non-issue, but there should be major jail time issued to the people at Goldman Sachs.

They are living proof that humans are greedy and if left unchecked they will steal every penny they can. They created this mess.


Good to see the US automakers coming back. I have a Grand Prix GTP and wish Pontiac didn't go away.

 

[Rey C.]

Not that this is a non-issue, but there should be major jail time issued to the people at Goldman Sachs.

They are living proof that humans are greedy and if left unchecked they will steal every penny they can. They created this mess.

It is rather amazing that the most that Goldman Sachs has seen so far is an SEC fine of $550 million... chump change to that firm. But I've noticed here and other places, there are some who believe that the crisis was caused by average borrowers who bought $200K homes for $250K and (intentionally) faked their loan apps... or (an even "better" explanation), the government forced banks to give out loans to people that the banks didn't want to give loans to. It was documented in a Fed study that well over half of the people who received subprime loans actually qualified for prime rate loans. Bankers made the loans subprime because the fee and rate income associated with those loans is anywhere from 200% to 500% greater than for prime loans. But I guess most people can't relate to how mortgages or bonds are priced, and it's easier for them to accept the simple explanation as given by talk radio hosts.

But yes, I agree: it's a crime in itself that there have been few, if any, prosecutions on the federal level for the (pretty obvious) crimes committed, which were large contributors to the financial crisis. Without the derivatives and (poorly) packaged loan pools, this thing would not have spread in the way that it did. I do think Goldman is going to have some more problems though, because Lloyd Blankfein may have committed perjury when he testified before Congress.

Good to see the US automakers coming back. I have a Grand Prix GTP and wish Pontiac didn't go away.

Yes, it is good. To be honest, I was never a huge fan of Ford before. But from the way they handled their business (without needing a bailout), I am something of a fan now. But it's also good to see GM and Chrysler making their way back. Even though Chrysler is now just a unit of FIAT, at least they're still alive.

I saw a new Challenger last weekend. And I thought it was a damn sharp looking car. Much smarter, cleaner design than the new Camaro (IMO).