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I Am Skooter
So here's us, on the raggedy edge.
There's a fortune inside your head / All you touch turns to lead / You think you might just crawl back in bed
— Wilco, Misunderstood
November 14, 2008
One and a Half Years

It was on May 14, 2007 that Cerberus Capital bought Chrysler Corporation from Daimler. That’s about one and a half years ago: only a moment in the lifetime of an investment of that magnitude; a brief interlude in the lifetime of a corporation.

What’s changed so dramatically in that scant 20 months that Cerberus capital wasn’t prepared to deal with? A recession? Decreased demand for products? The latter, at least, was already happening when the purchase when through.

Apparently now American tax payers are being asked to bail them out of their deal. Hardly seems fair does it. If America does this, Canada will inevitably get on board, or risk losing all those jobs.

Chrysler adds its voice to calls for U.S. bailout
November 13, 2008 at 7:59 PM EST

A government rescue package and alliances with competitors are essential if Chrysler LLC is to ride out the storm battering the auto industry, the company’s chief executive officer said Thursday, shifting the focus of the Detroit crisis away from General Motors Corp. for at least part of the day.

Chrysler posted a video on its website late Thursday urging Americans to contact federal politicians and urge them to support assistance from the U.S. government for auto makers.

Posted by skooter at 1:26 PM This entry is filed under America, Politics.
This entry is tagged: Cars, Chrysler, Economics

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