'High Court'? Are we England now? Anyways....
link....
High court clears way for Chrysler's sale to Fiat - Yahoo! News
link....
High court clears way for Chrysler's sale to Fiat - Yahoo! News
The sad thing is, the three pension funds that are gonna get destroyed by this are the State-police, Fire-fighters, and Teachers
Way to go again Fed's. I can see the markets taking a massive hits soon as people find out what this precedent is gonna do to 401k's and tens of millions of people cash out before they lose what they have left.
I think the pension fund managers have a point.
It appears to me that the Feds just arbitrarily changed the rules about who gets what in a bankruptcy, moving their UAW buddies to the front of the line.
It seems property rights and the rule of law are out of fashion these days, and we will henceforth be Ruled by Decree.
I would still like to know what Fiat is paying for their share. From my understanding NOTHING. They are bringing small car technology to the table. Small car technology from their line of piece of **** cars. And to think no one from Chrysler can come up with any small car technology?? So how can it be called a sale if no one is paying anything for it. Do they even sell Fiats in the US anymore? My mom & dad had one when I was young. It was like riding in a pop can. Worse than the Festivas.
check this out. I'm really eyebaling this one.
Tesla Motors
I will never ever buy a GM or Chrysler vehicle. I will roller blade to work before I do it.
It's true. Chrysler and GM were geese that laid golden eggs. Guess who killed them.You guys can swear off Chrysler and GM products but remember those companies and their employees have contributed many Billions of dollars in tax revenue from being one of the major employers in Indiana.
Those companies are one of the reasons this state is as great as it is.
Chyrsler, GM, it's suppliers like Cummins and the automotive sector in general are what keep many major Indiana cities going.
You guys can swear off Chrysler and GM products but remember those companies and their employees have contributed many Billions of dollars in tax revenue from being one of the major employers in Indiana.
Those companies are one of the reasons this state is as great as it is.
Chrysler, GM, it's suppliers like Cummins and the automotive sector in general are what keep many major Indiana cities going.
It's bad enough that pension funds were raided and the wealth REDISTRIBUTED to the UAW, but an even more troubling precedent has been set. The fundamental principal of being a secured creditor has been changed.
Being a secured creditor is now meaningless, at least in the way I interpret all of this.
Secured creditor? Sorry, UAW takes priority. You can fight for the crumbs!!
You guys can swear off Chrysler and GM products but remember those companies and their employees have contributed many Billions of dollars in tax revenue from being one of the major employers in Indiana.
Those companies are one of the reasons this state is as great as it is.
Chyrsler, GM, it's suppliers like Cummins and the automotive sector in general are what keep many major Indiana cities going.
The sheep need to be reminded that our Indiana pensioners are effectively subsidizing this TWICE! Through normal government revenue (OUR TAXES) and through the loss of their pension dollars invested in Chrysler!They just got those BILLIONS back at TaxPayer Expense. I do not totally Blame GM or Chrysler BUT they took the Obama Dough to create a Government Run Socialized Car Company. I'll never buy another until the $$'s are paid back and the Government is out