• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Chrysler execs say cash will run short in Jan

Status
Not open for further replies.

redfish

Thread Starter
Senior Member
Joined
Sep 2, 2007
Professional Status
Certified Residential Appraiser
State
Michigan
http://biz.yahoo.com/ap/081211/chrysler_finances.html

Take a guess at which oil company.......


Some suppliers, LaSorda said, have threatened to stop shipping but so far no Chrysler factories have had to be shut down due to lack of parts. If a supplier stops shipping and shuts a Chrysler plant down, "We will definitely expose who does it," LaSorda said.
A large oil company that is posting profits of $20 billion to $30 billion has demanded cash on delivery, as has a utility company, the executives said. "The multibillion oil company threatening Chrysler. If you don't pay us in advance, we're not going to ship you oil," said LaSorda, who would not identify the company.
The oil companies have played a large role in the economic meltdown we are experincing. Once the current oil industry friendly administration is out, the abuses of the industry will be uncovered.
 

Workbox

Elite Member
Joined
Mar 2, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
Welcome to the line. Its, onion potato soup today, hope they have bread. I hear that Santa May show up.
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
Purchased Chrysler from Dalmier Benz with the intent of sprucing it up and flipping it.
Guess they got caught like a lot of other "investors".
.
:fiddle: :fiddle: :fiddle:

Bye Bye Studebaker
 

tjcou812

Junior Member
Joined
Aug 17, 2007
Professional Status
Certified Residential Appraiser
State
Connecticut
Say goodbye to chrysler and and gm the UAW will not take a pay cut. Bailout is off. I guess the UAW members rather have no jobs at all. How sad is it today when they rather have no job than take a cut in pay and have a job. Watch the stock market take a huge decline today. They are already saying on the news that we may see the largest drop in history. Thank you UAW for ruining whats left of our economy. How selfish can they be. This is going to affect every one. The companies will file for bankrupcy and then the UAW will have no say. Their contracts will be null and void. How stupid it is of them to get up and walk out of negotiatios with congress.
 
Last edited:

ghrousseau

Member
Joined
May 5, 2006
Professional Status
Licensed Appraiser
State
Virginia
At least the vendors are asking for COD...........they must be hanging out on AF :) I agree about the wage concessions. The auto industry in the Southern States is doing comparatively well. There wage costs are not ridiculous. The only thing that will save the big three is to get their labor costs in-line with the competition. They are going to need reasonable wages, 401K, and to drop the health care for new retirees. Anything else is ****ing in the wind. The other alternative is for them to produce more cars over seas and in Mexico and ship them back to the states.............all the while closing plants here and cutting jobs. UAW needs to hear "you can make some of the money or you can make none of the money, but you aren't making all of the money."
 
Last edited:

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
At least the vendors are asking for COD...........they must be hanging out on AF :) I agree about the wage concessions.
......The only thing that will save the big three is to get their labor costs in-line with the competition.
......UAW needs to hear "you can make some of the money or you can make none of the money, but you aren't making all of the money."
Sadly, the truth is the truth, and all of this applies to our industry as well.
Thing of it is that, unlike the Unions, the AMCs don't even pretend to
represent appraisers, and, the Unions wouldn't attempt to rake off the
percentages the AMCs feel "appropriate".
 

George Ellerman

Senior Member
Joined
Feb 21, 2005
Professional Status
Licensed Appraiser
State
Ohio
Until the UAW agrees to cut wages by 40% the auto companies are going to fail. Their non-competetive business model insures future failure. I simply don't understand how the UAW execs can't pull their heads out of their a---s long enough to see that 60% of something is eminently preferable to 60% of nothing !
 

Austin

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Virginia
I think you guys can't see the forest for the trees. What do you mean the union? The workers if given a choice would chose to take the best deal they can get and go with it. But they are not the union. It is not the rank and file holding out, it is the union leadership doing what is best to secure their union racket operation. Do you really think the workers are behind the proposal to require open voting for union affiliation? Do you think the rank and file controls Chicago politics? When you see what is going on in Chicago when the same old faces crop up like the Jessie Jacksons, Blago, Dailey, Emanual, etc. can you not connect the dots? The American Labor movement has never been anything but a rackettering operation.
 

Lloyd Bonafide

Senior Member
Joined
Jan 15, 2006
Professional Status
Certified Residential Appraiser
State
California
Car sales are so bad, that I don't know if any bailout will help in the long run, but the White House may use TARP funds to bail out Detroit.

http://money.cnn.com/2008/12/12/news/companies/auto_future/index.htm?postversion=2008121209

NEW YORK (CNNMoney.com) -- The Bush administration said Friday that it will consider using the money set aside to help banks and Wall Street to rescue the auto industry.

The statement -- a change in the administration's long-held position -- might be the last best chance to keep troubled automakers General Motors and Chrysler LLC out of bankruptcy.

The defeat of a $14 billion bailout plan in the Senate late Thursday left the administration little choice but to tap the $700 billion bailout approved by Congress in October, the Troubled Asset Relief Program or TARP, according to White House Press Secretary Dana Perino.
 

Viking

Junior Member
Joined
Nov 18, 2006
Professional Status
Certified Residential Appraiser
State
Minnesota
Car sales are so bad, that I don't know if any bailout will help in the long run, but the White House may use TARP funds to bail out Detroit.

http://money.cnn.com/2008/12/12/news/companies/auto_future/index.htm?postversion=2008121209






The White House wants to prevent a "disorderly" bankruptcy of GM and Chrysler. We have an established process called Chapter 11 reorganization. Delta and northwest went this route and now Delta owns Northwest. Do we really want a Car Czar? A bailout only continues the UAW mentality and little hope of good management.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks