jazzme

Nardelli Pleads for Chrysler, but Would a Bailout Help?

This is positively right on. Chrysler has been failing for forty years due to poor quality,wrong product mix,lousy planning etc. Why keep them on life support? Even our favorite pets have to be "let go of" at some point.
When did we decide that a hedge fund owned corporation should get taxpayer backed loans.
Does anyone believe that Nardelli et al woud have shared the wealth had they hit the timing right when they believed that by taking a distressed bargain Chrysler off Daimler's hands they would end up making a killing? This was a private capital deal.
Maybe Ford and GM would actually benefit and become stronger. Plus they at least have public shareholders who have a stake in their demise.
Where are our priorities? We have a dramtically smaller pie to share than we did just 18 months ago.
I spent 37 years at the hard retail end of the car biz and fully understand the failings of Detroit. I can't tell you how many mistakes corporate hubris are responsable for. I sold/managed/owned at all levels of both import and domestic brands. Oh, and financially went down with the British ship of carmaking in 1981. The word government bailout wasn't possible as the government actually already had owned most of that industry.
I've seen this movie before.