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BTW: A new White House position will be created to oversee the process - Director of Recovery for Auto Workers and Communities.
Wonder if this is a temp position or another new permanent position in govt? Well, at least he wasn't called a czar. That name for a WH position has questionable connotations.
Quote:
More interesting to note, the Fiat-Chrysler partnership would also bestow Fiat with access to Chrysler’s North American production facilities as well as a vehicle (no pun intended) for introducing Fiat vehicles into the United States market.
In our continuing effort to build a profitable enterprise for the future, we are announcing today that Cerberus, Chrysler LLC and Fiat S.p.A. have entered .....
As a condition of the U.S. government loan agreement, all constituents will be asked to contribute to Chrysler’s restructuring effort including: lenders, employees, the UAW, dealers, suppliers and Chrysler Financial. Fiat, Chrysler, & Cerberus Announce “Global Strategic Alliance”
Quote:
Frustrated administration officials said Chrysler cannot function as an independent company under its current plan. They have given Chrysler a 30-day window to complete a proposed partnership with Italian automaker Fiat SpA, and will offer up to $6 billion to the companies if they can negotiate a deal before time runs out.
The president will also name a Director of Recovery for Auto Workers and Communities. Edward Montgomery, labor economist and former Deputy Secretary of Labor, will serve in the role, helping autoworkers, communities, and regions adversely impacted by the failure of the automakers find new jobs, businesses, and industries. President Obama Tells Automakers Their Viability Plans Are Lemons - Political Punch
Wow, I don't ever seem to agree with ANYTHING this potus does.
Let me preface with I am completely against all the $ he is and will spend....and think it needs to cease.
When you are in credit card debt up to your neck, do you continue buying? Or, do you cut up the credit cards and make some definite and drastic changes...? I'd say the latter is the correct answer. But, that's just me using some common sense.
In this instance though, with the auto dealers/makers, I believe that the 'LOAN' that they are requesting should be granted.
If it's not, and they flounder and go completely under, look how many hundreds of thousands of jobs are going to be lost!
As the Michigan governor said in the attached video of one of the links posted, all car parts including and down to the rubber, cloth (carpet and seats), head/tail lights, leather, mechanical, electrical etc etc and on and on.....ALL THOSE PERSON'S JOBS ARE AT STAKE!
If thousands, maybe millions more jobs are lost due to this most recent poor decision by the potus......this recession will def get much deeper.
Wow, I don't ever seem to agree with ANYTHING this potus does.
snip...
That's my opinion. Does anyone dissent?
I don't disagree with anything you've said, but I would add that it's partially the delusional, arrogant auto buyers here who believe the anti-American-car crap that has been bandied about for years.
IMO we need to get Obama impeached, set the imports to the same requirements as the American companies then see what happens. I'd mourn the loss of GM & Chrysler, but I mourn even more the march towards Marxism this POTUS is conducting.
Chrysler is already "Daimler/Chrysler" as in "Daimler/Benz"
Daimler sold their stake in Chrysler in late 2006, poster. Nobama is forcing Chrysler to reopen negotiations with Fiat. Not a good idea IMO as Fiat has had quality issues for years. (Their newest car is cute, though.)
Don't you mean MORE MONEY.
The OP is telling half-truths, as usual.
Maybe we don't need US automakers if they're that out of touch with reality.
what are you talking about MORE MONEY?
how is the OP telling half-truths here?
I clearly got from the article that was posted that IF GM merges with FIAT then they will get some money. If they do NOT merge, they get NO money...
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