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Posted by Todd Wilson on Saturday, December 13, 2008 at 12:55:57 :
In Reply to: Re: Cerberus posted by Joe Cimoch on Saturday, December 13, 2008 at 12:41:29 :
I think its all a "Me Too" deal with the big 3 wanting $$$ since all the insurance banking firms got $$. You can be sure the big wigs at all those companys will figure out how to put more $ in their pockets.
I spoke with a general manager of a Chrysler dealership a week ago and the buzz going around is GM is in really big trouble but Ford and Chrysler are not in as bad of shape. Their dealership had the worst october in the history of the business but november was the best month in the history of the business with December taking off really well. So who really knows.
Chrysler is owned by a private company so no one publicly really knows how much cash Chrysler has or doesnt have. 2 months ago GM was about to close thier doors yet they wanted to buy Chrysler was simply another bad management move to gobble up Chrysler using long term debt methods. They would simply want to finance part of the purchase price and then get at Chryslers cash which supposedly at the time was 11.5 billion.
A big balls move for Chryslers CEO would have let Ford and GM go to Washington and look like idiots and Chrysler stay home, then stand up and say we are doing fine. Come buy our vehicles. You wont have to worry about your new car not having a warranty when its company folds. That would be a good marketing ploy I think.
Todd