Speculation: Chrysler to Declare Bankruptcy

[HarleyEarl]

Read today, in the newspaper, that there is speculation out there that Chrysler is getting ready to declare bankruptcy.

[Camino LS6]

Heard an official denial of this on the radio this evening.

[DetroitNut90]

Speculation is such a dirty word these days.

[HarleyEarl]

If true, of course they'd deny it....but where there is smoke there is fire....I think something is up.

[Satty]

Good, then maybe I wont have to see a lot full of unsold Nitros on my way in to work everyday.

[CMG]

I saw a rumor that there is speculation Chrysler is about to buy GM for pennies on the dollar.... GM is gone in the next few weeks.

[Intrepidation]

I heard speculation that cat barf will be worth it's weight in gold within the next few months. A friend of a friend's mother's sister's aunt's uncles, nephew's father 6 times removed swears he heard about it on a radio station that was very staticy and in Russian.

Edited June 28, 2008 by Dodgefan

[FAPTurbo]

Are these speculations by the same people who speculated that buying funds based low interest mortgages was the next big thing?

[Oracle of Delphi]

Oh boy if they do, GM should jettison HUMMER and buy Jeep to replace it.

[cletus8269]

Speculation is such a dirty word these days.

aye, speculation they say partly the reason oil is $140 a barrel... trading on speculation

I heard speculation that cat barf will be worth it's weight in gold within the next few months. A friend of a friend's mother's sister's aunt's uncles, nephew's father 6 times removed swears he heard about it on a radio station that was very staticy and in Russian.

its true comrade in russia liter of cat barf buy kidney on black market

[CMG]

Oh boy if they do, GM should jettison HUMMER and buy Jeep to replace it.

If Chrysler keeps GM they might look at that, but I thought Hummer was already gone?

I read it in some cat puke on Ebay.....

[HarleyEarl]

Oh boy if they do, GM should jettison HUMMER and buy Jeep to replace it.

I'm with you on this, the Jeep brand is a good one and it would be a perfect replacement for the Hummer division.

[Intrepidation]

GM can't handle the brands it has, it would probably make Jeep worse than it is now, replacing the good Jeeps with Opels or some stupid thing like that.

[haypops]

I heard speculation that cat barf will be worth it's weight in gold within the next few months.

The google is your friend.

[Intrepidation]

[vonVeezelsnider]

GM can't handle the brands it has, it would probably make Jeep worse than it is now, replacing the good Jeeps with Opels or some stupid thing like that.

+1 Let's not add to the Clusterf*ck by having to integrate brands... but that in and of itself is jumping the gun because I hope that the situation never presents itself.

[cire]

I know I'm probably in the minority on this, but I would love to see Chrysler LLC join forces with Renault/Nissan. The Dodge and Chrysler divisions could really benefit from having access to some of Nissan's platforms. Although this alternative is not as attractive as a fully independent Chrysler, this alternative would at least provide Chrysler with a fighting chance to stay alive. I think Daimler has left them in such a hopeless mess that Chrysler will never fully recover on their own. They will need some serious attention and assistance from another car company in order to survive and hopefully thrive.

The advantages to Renault/Nissan would be expanded production capability and an improved opportunity to bring Renault back to the U.S. through an enlarged dealer network.

[HarleyEarl]

By August 04, 2008 we will know.

[CMG]

By August 04, 2008 we will know.

I sure hope Chrysler doesn't axe the Corvette when the takeover happens.

The Viper will be the top of the line performance car, Chrysler might put the Corvette out to pasture, that would sure be sad.

I guess we will see August 4th!

Edited June 29, 2008 by CMG

[Blake Noble]

I sure hope Chrysler doesn't axe the Corvette when the takeover happens.

The Viper will be the top of the line performance car, Chrysler might put the Corvette out to pasture, that would sure be sad.

I guess we will see August 4th!

Uh, do you mean Corvette when you say Viper and vice versa?

[FUTURE_OF_GM]

Well, we have no industry other than paper shuffling Wall Street left in this country, so we might as well as sit on our asses and SPECULATE the place into a frenzy to see who we can F*CK out of money next.

My :twocents:

I hope this country burns.

[mustang84]

Throw the Wall Street hacks out onto the curb. They serve no other purpose than to destroy what is left of the middle and working class in this country.

[PONTIAC06]

Well, we have no industry other than paper shuffling Wall Street left in this country, so we might as well as sit on our asses and SPECULATE the place into a frenzy to see who we can F*CK out of money next.

My :twocents:

I hope this country burns.

Everyday I feel more and more this way...or to quote a song "I have an American dream, but it involves black masks and gasoline"

[Chicagoland]

Oh gawd can we grow up a little? Just because RWD/BOF/V8 cars are history is no means the end of the world.

I bet the complainers have never ever bought brand new cars, and shop at Walmart, so go cry a river.

Edited July 2, 2008 by Chicagoland

[Blake Noble]

Oh gawd can we grow up a little? Just because RWD/BOF/V8 cars are history is no means the end of the world.

I bet the complainers have never ever bought brand new cars, and shop at Walmart, so go cry a river.

Does anything intelligible ever come out from between your lips?

If you were smart you would be worried at the signs of any possible Chrysler bankruptcy.

[CMG]

If you were smart you would be worried at the signs of any possible Chrysler bankruptcy.

I think if he was smart he would be worried about GM, Ford AND Chrysler.

Domestics are in trouble, doesn't matter how ya slice it. Debt, rumors, rising gas prices and poor economy aren't a great sales pitch....

[regfootball]

Well, we have no industry other than paper shuffling Wall Street left in this country, so we might as well as sit on our asses and SPECULATE the place into a frenzy to see who we can F*CK out of money next.

My :twocents:

I hope this country burns.

dont forget all those who work for non profit 'think tanks'....i would love to see those BS entities go down and have to have those people look for real work.

[ZL-1]

Domestics are in trouble, doesn't matter how ya slice it. Debt, rumors, rising gas prices and poor economy aren't a great sales pitch....

QFT

[VenSeattle]

Chrysler LLC's domestic sales are in freefall...

Can't Chrysler LLC lean on foreign markets like Ford and GM until the US market recovers?

[Newbiewar]

read the signature...

he said it right...

Edited July 2, 2008 by Newbiewar

[FUTURE_OF_GM]

Oh gawd can we grow up a little? Just because RWD/BOF/V8 cars are history is no means the end of the world.

I bet the complainers have never ever bought brand new cars, and shop at Walmart, so go cry a river.

Yeah, because my desire to buy a RWD V8 car (I've never been a BOF fan) has a lot to do with what I said. (Sarcasm)

I've been talking about my growing disdain for this country since 3-4 years ago, LONG before the latest 'fuel panic' hit.

Edited July 2, 2008 by FUTURE_OF_GM

[Robert Hall]

Chrysler LLC's domestic sales are in freefall...

Can't Chrysler LLC lean on foreign markets like Ford and GM until the US market recovers?

Chrysler's non-NA market share is quite tiny when compared to Ford and GM, though...not sure how much it contributes...

[Newbiewar]

Chrysler's non-NA market share is quite tiny when compared to Ford and GM, though...not sure how much it contributes...

the question should have been... what modifications would quickly allow chrysler to have a presents in other markets...

if you have low efficency due to high capacity and low production, it would be a good idea, to increase proudction to capacity, and export the remainder, the USD encourages these actions now, that would allow Chrysler to compete better then Ford or GM because of local production vrs US production.

perhaps Europe is not the answer, but latin america? middle east? who has the fewest regulations, that any vehicle would be easily trasferable?

Chrysler has options, thier owner has pockets... well they might be dwindling quickly with the purchase of GMAC and Chrysler and a lot of other things that are in the auto sector, didnt cerbrus buy magnaflow, and/or slp? sorry i forget... and iirc that transaction was just as costly as chrysler lol...

anywho, Cerbrus should not be afraid of its most difficult investment, they just need to keep working it, where is Pres anyway... where has that mouthpeice been?

[CMG]

Chrysler LLC's domestic sales are in freefall...

Can't Chrysler LLC lean on foreign markets like Ford and GM until the US market recovers?

LOL!!!!!!!

Quotes from the consistently innacurate.

Thanks!

Have a look see at GM's financial situations, and their delightful layoffs north of the border....

:AH-HA_wink:

C&G crowd, at their best

[CMG]

Oh gawd can we grow up a little? Just because RWD/BOF/V8 cars are history is no means the end of the world.

I bet the complainers have never ever bought brand new cars, and shop at Walmart, so go cry a river.

LOL!

I've bought new cars. I know V8 car's aren't "history". I just bought one! Hate to tell you, it's a REAR WHHEL DRIVE DOMESTIC WITH A V8!

Baby, head, fall, whatever the saying is......

:AH-HA_wink:

[CMG]

I read the blog in question with the "speculations"....

Here's what else it said.... I realize there are a few here who take the "SPECULATED" Chrysler bankruptcy as gospel, so let's see if they think other points in the same blog are accurate, shall we....?

*ahem*

Shares of GM and Ford are down 53.4% and 28% this year, respectively.

Some analysts predict Toyota will outsell GM in June

The combined monthly U.S. market share for Chrysler, Ford Motor and General Motors domestic brands is estimated to be 45.4% in June, down from 51.4% in June 2007 but up slightly from the historic low of 45.3% in May

but all three Detroit automakers are projected to report drops of at least 25%.

Now, I know nobody bothered to care to read THIS little piece into the equation before the "free falling" sky is falling, sky is falling" comments started....

*ahem*

Gasoline prices in June topped $4 a gallon for the first time and consumer confidence hit a 16-year low, prompting more Americans to postpone purchases of new vehicles.

Mind you, the blogger also goes into Chrysler's history. INcorrectly...

The minivan came after Chrysler nearly collapsed in the 1970s and required a government debt guarantee to stay in business.

and

Chrysler exists because Lee Iacocca bet the company on the minivan.

Sorry Mr. blogger, but it was actually the K CAR.

The guaranteed loans were paid off long before the Caravans ever made the scene. Loan paid in full in 1983.

Here, for those who believe all the blogs that they read.... he wrote this too!

But sales are off because SUVs have become far trendier. The much bigger problem: soaring gasoline prices that have made minivans even more vulnerable.

See?

soaring gas prices don't even affect the SUV sales!

Take the blogger with a grain of salt.

Or a beach....

:AH-HA_wink:

[CARBIZ]

Chrysler LLC's domestic sales are in freefall...

Can't Chrysler LLC lean on foreign markets like Ford and GM until the US market recovers?

I thought Chrysler's overseas operations were negligible. Am I wrong? More than anyone, Chrysler could have used an international link, like Daimler, for example.

I am sure Cerebrus is freaking out, but I doubt they would throw in the towel so soon. They, more than many others, should have a better feel for where the bottom of this current market situation is.

I've lost a few grand in my mutual funds this past month, but I am not ready to bail just yet.

[CMG]

I thought Chrysler's overseas operations were negligible. Am I wrong? More than anyone, Chrysler could have used an international link, like Daimler, for example.

I am sure Cerebrus is freaking out, but I doubt they would throw in the towel so soon. They, more than many others, should have a better feel for where the bottom of this current market situation is.

I've lost a few grand in my mutual funds this past month, but I am not ready to bail just yet.

With GM sales down 53.4% maybe they should look to Daimler too?

[CMG]

Chrysler LLC's domestic sales are in freefall...

Can't Chrysler LLC lean on foreign markets like Ford and GM until the US market recovers?

BTW..... I ran across this quote in an article, it's not by an internet blogger, but by Merrill Lynch.....

General Motors will need to raise about $15 billion in cash to shore up liquidity and bankruptcy is "not impossible" if the U.S. auto market continues to slump, Merrill Lynch said on Wednesday.

It's in this forum in a thread, you might want to check it out, have a laugh, you know, do the stuff you usually do in here for the Chrysler stuff....

:AH-HA_wink:

Link for your amusement about "domestic car free falling"... http://www.cheersandgears.com/forums/index...showtopic=24483

[VenSeattle]

Most of you cannot read sarcasm... Yes, Chrysler's overseas operations are negligible at best... pretty much non-existent depending how you view it. What you see in North America is what you get with Chrysler LLC.

My point was North America doesn't show the full picture at Ford or GM. GM & Ford have far more resources available globally.

As for CMG's comment about GM's need of $15 billion for the US Market... See my point above... GM doesn't have to find the $15 billion within NA.

If Chrysler was in the same situation (or is Chrysler in the same situation?) where would Chrysler run for another $15 Billion? Chrysler only has Cerberus left now that they've borrowed the $1.5 billion from Daimler. Do you think Cerberus would be willing to invest $15 billion?

Here's some information on the issue provided by BusinessWeek last week:

Morgan said Chrysler had to exercise the credit line before Aug. 3 under terms of Cerberus' purchase in August 2007 of an 80 percent stake in Chrysler from Daimler.

The borrowing of $1.5 billion from Daimler and $500 million from Cerberus is not an indication that the company is having cash flow problems, Morgan said.

Chrysler has insisted that it ended last year with $9 billion in cash and is exceeding its financial targets.

But sales through the first five months of this year are down 19 percent from the same period last year, and sales of its flagship Ram pickup truck are down 27 percent through May. U.S. light vehicle sales are down more than 8 percent.

Pete Hastings, senior analyst with Memphis, Tenn.-based Morgan Keegan & Co., said he thought the rumors were fueled by a Fitch Ratings report Wednesday downgrading Chrysler and General Motors Corp. to "B-" from "B."

The ratings agency said the outlook for both companies was negative and said that if sales next year remain flat with depressed 2008 numbers, "negative cash flows could result in Chrysler's liquidity position reaching minimal required levels in late 2009."

Hastings said he does not think the bankruptcy rumors have any merit in the short term.

"U.S. automakers have liquidity through 2008," he said. "Beyond that is a question mark."

Chrysler is vulnerable. For a Chrysler fan to sit here and argue "GM is worse" is pointless. The fate of these two companies are not tied to each other. Their situations are different. Restating my point again, GM & Ford just have far more resources available than Chrysler.

[Satty]

They gone yet?

[CMG]

Chrysler is vulnerable. For a Chrysler fan to sit here and argue "GM is worse" is pointless. The fate of these two companies are not tied to each other. Their situations are different. Restating my point again, GM & Ford just have far more resources available than Chrysler.

Pretty funny stuff.

I never posted anything about "GM is worse", but what you did was exactly what you say is pointless.

I'll quote!

For a Chrysler fan to sit here and argue "GM is worse" is pointless. The fate of these two companies are not tied to each other.

Then what do you post...?

Restating my point again, GM & Ford just have far more resources available than Chrysler.

LOL!!!!!!!!!!!!!!

It's obvious, just not to YOU.

:AH-HA_wink:

[CMG]

They gone yet?

No, GM is still around.

Check back August 4th though, we will know GM's fate then.

[Satty]

GM will still be around in a month, GMNA will still be weak, but worldwide, GM will remain for quite some time with the overseas operations propping up GMNA. Chrysler is a different story, they just suck.

[CMG]

GM will still be around in a month, GMNA will still be weak, but worldwide, GM will remain for quite some time with the overseas operations propping up GMNA. Chrysler is a different story, they just suck.

You've got some really knowlegeable, really informative posts!

Does your Mommy know you are on the internet? You really SHOULD be supervised you know....

:AH-HA_wink:

[Satty]

You've got some really knowlegeable, really informative posts!

Does your Mommy know you are on the internet? You really SHOULD be supervised you know....

:AH-HA_wink:

And your posts are worthwhile? You're a Chrysler humper, thats obvious, this is a GM fansite, also obvious, did you expect to come in here and convert people? If you did, you're a bigger idiot than FOG. Maybe you'd have a shot if Chrysler had anything appreciably better than any GM offering, but they dont, in fact their vehicles are far worse, Kia level, so you're not going to find many here to agree with you.

[CMG]

And your posts are worthwhile? You're a Chrysler humper, thats obvious, this is a GM fansite, also obvious, did you expect to come in here and convert people? If you did, you're a bigger idiot than FOG. Maybe you'd have a shot if Chrysler had anything appreciably better than any GM offering, but they dont, in fact their vehicles are far worse, Kia level, so you're not going to find many here to agree with you.

I'm not TRYING to convert, nor looking for people to agree with me.

Possibly YOU are the "idiot", who can't see that...?

:AH-HA_wink:

I'm just responding to a bunch of misinformed and incorrect posts, or silly childish insulting posts, like the ones above....

Like the last couple that YOU made, with no point, just a sad attempt at wit that missed.

:AH-HA_wink:

BTW- We have a new Chrysler product sitting in our driveway, that we bought with OUR money that we earned.

Do you own a new GM product?

Edited July 6, 2008 by CMG

[CMG]

And your posts are worthwhile? You're a Chrysler humper, thats obvious, this is a GM fansite, also obvious, did you expect to come in here and convert people? If you did, you're a bigger idiot than FOG. Maybe you'd have a shot if Chrysler had anything appreciably better than any GM offering, but they dont, in fact their vehicles are far worse, Kia level, so you're not going to find many here to agree with you.

OH!!!!! BTW oh wise one....

My daily driver is a 2007 Chevrolet.

What is yours?

[Satty]

Depends on the day, either an '06 Ford Fusion or an '08 Toyota Prius. The Fusion beat out several GMs (Malibu Maxx, Grand Prix, Regal) while the Prius beat out a Honda, with cursory consideration given to a couple GMs and a few other unrealistic choices.

[MyerShift]

Poor Chrysler.

I guess they really do need a modern K Car!