The CEO of Chrysler now admits that his company’s chances of surviving a bankruptcy are slim:
AUBURN HILLS, Mich. — Chrysler’s chairman cast doubt Monday on whether the struggling automaker could survive a government-sponsored bankruptcy reorganization.
“I hope I’m wrong, but I don’t have a lot of confidence in today’s environment that we can emerge from bankruptcy,” the company’s chief executive and chairman, Robert L. Nardelli, said in an interview.
Chrysler is asking the federal government for $5 billion in loans in addition to $4 billion it had already received. The company says it is in danger of running out of money without more federal aid.
Of course, once it burns through that $ 5 billion, it will be in line for yet another government “loan,” and the process will continue until all we’re doing is keeping a company alive that should have died a long time ago.
And let’s remember what death really means here. The Chrysler name might die, but it’s factories, deal networks, and probably even the Jeep brand will likely live on under new ownership.
That’s how things are supposed to work, and until America became bailout nation back in September, that’s how they did work.
How about giving it a try again ?
The factories and deal networks live under new ownership? Who is going to buy a factory that builds things that nobody is buying? The Jeep brand might survive, but what that would likely mean is that another company starts using the copyrights and badge – not the parts, plants and workers. Look at what GM did with Hummer or Ford did with Jaguar – that’s what another company would do with Jeep.
Hey, how come all those airlines went bankrupt, yet the sky didn’t fall? And shockingly, we still have airlines.
Reality must be wrong, because our government and big businesses wouldn’t lie to us, would they?