Re: Saginaw Steering Gear sold to city of Bejing government


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Posted by Todd Wilson [68.92.138.39] on Wednesday, November 10, 2010 at 10:48:06 :

In Reply to: Re: Saginaw Steering Gear sold to city of Bejing government posted by Kaegi [71.227.129.92] on Tuesday, November 09, 2010 at 20:10:41 :

Actually Chrysler is doing well this year and showing a profit. Fiat I think has realized some quality issues that Chrysler has suffered from this last 4-5 years and has made changes. It sounds like the new 2011 vehicles will be good products. Chrysler was no where near as deep with the government as GM is. Its like 10% vs 60%. I dont think there was much if any stock from Chrysler sold to the government, It was more loans of $$$. Any big company out there refinances debt at certain times and Chrysler was in the process of doing that when the banks went bust. When that happened the banks wouldnt refinance the debt for Chrysler. Same thing with GM although they have many more issues then Chrysler. As far as I know Ford never got their refinancing of debt comletely done either but somehow has made it thru the rough times......A ballsy move by the Ford CEO after they all 3 went to DC asking for $$$$ and then learned what all had to take place to get the $$$$. We may still see Ford stumble bad as some of their debt comes due the next 1-3 years that they didnt get refinanced during the problem time.

The biggest problem is the vehicles cost so much right now verses incomes or even having a job and that will hurt.


Todd




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