Are we out of the car business?

And more importantly, are we still communists?

Chrysler celebrates after repaying government loans

It’s official. Chrysler Group LLC today confirmed the wire transfers have gone through, and the automaker has repaid loans from the U.S. and Canadian governments.

The automaker has repaid $5.1 billion in loans, as well as $1.8 billion in interest and other fees, releasing Chrysler from all monetary commitments to the governments less than two years after the bailouts kept them in business.

8 responses to “Are we out of the car business?

  1. they actually STILL owe the government another billion or so….

    but the word is that they don’t have to worry about that….

    another bailout for them…

    saving the brand and hundreds of thousands of jobs…..

    sloppy system..
    but it works…

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  2. jamesb ,

    What about the Chrysler Bond holders who the President royally screwed over ? If memory serves , that would be the Indiana State Pension Fund , and the Indiana State Teacher’s Retirement Fund . I think President Obama called them greedy speculators . Greedy speculators they may be , but the law is the law . No wait it is not , if you are a Democrat .

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  3. Chrysler was the one who screwed the bondholders, who lost under the bailout and would have lost without the bailout. Chrysler made sure of that before they even turned begging to the government.

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  4. Ms. Holland ,

    The law is the law . Chrysler could not have screwed the bond holders with out the Federal government putting a gun to the heads of the bond holders . When you go bankrupt there is a progression of creditors in line to be paid . The bond holders gave Chrysler money in good faith when everyone knew Chrysler was in trouble . They wouldn’t have done that if they had known their place in line would be taken by the UAW .

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  5. Hey Alan…..

    The Law IS the LAW…..
    Except when giving the money to the bond holders would put HUNDRES of THOUSANDS of people out of work….

    If you think the President of the United States is gonna worry about the bond holders and rise the unemployment number by double digits to pay them back …
    You’re on crack….

    And do you think that any of those laid of people are gonna vote for the President or a Democrat?

    Alan…

    The Bond holders will survive just like Chysler is gonna….
    Again….

    Risk…..
    When you invest….

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  6. And Uniuons and the US Auto Industry are here to stay…..

    Live with it…..

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  7. jamesb ,

    ” And Uniuons and the US Auto Industry are here to stay…..

    Live with it….. ”

    Oh, , , , you can be sure all of us will live with it .

    ” Hey Alan…..

    The Law IS the LAW…..
    Except when giving the money to the bond holders would put HUNDRES of THOUSANDS of people out of work…. ”

    Funny how you do not give a flying Frank about all of the workers your hero put out of work in the insurance and oil industries . And let’s say that American workers who build cars and were in jeopardy, are to use your figures, in the hundreds of thousands . Well why wouldn’t those numbers just be hired by Toyota and Ford , two more efficient American car companies who did not need bailing out ?? I included Toyota because they employ Americans .

    Again , I guess the pension funds will just have to make up their losses elsewhere . And again, I tell you that they made their bond investments based on a set of rules and laws . Chrysler was not exactly blue chip when those bonds were sold . How in the heck can Obama change the rules of the game to favor his UAW supporters against the interests of Pensioners in Indiana ?

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  8. Ok…Alan I’m game…..

    Toyota, BMW and Honda have plants in the US of A….
    Southern part I believe…..
    No union I believe right?

    If a US auto maker goes belly up do you think the other guys are going hire one single UNION man or woman from say Detroit?
    Nope…..

    Lay off in Insurance and Oil?
    What lay off’s?
    Today In the News it was reported the United Healthcare and others are making banner profits….
    What lay off?
    Lehman Brothers bit the dust….
    But Barclay’s took most of their employee’s (9,000)
    (Bear Stearns and Merrill Lynch) got sold….
    Sold Alan….
    Some people made it thru…
    Their employee’s mostly found jobs in the industry….

    That’s not same as a big auto maker making plants in the east ghost towns something politically unacceptable to any politician Dem or GOP…
    Chrysler directly employes about 200,000 employee’s
    Add support and we’re pushing another 50,000 maybe?

    I do feel for the pensioners Alan….Your point is a good and valid one….

    But investing does involve some risk….
    Putting hundreds of thousands of auto making employee’s..the supplier’s workers, the support industries and others out of work just isn’t gonna happen….

    You and I know that don’t we?

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