GM and Chrysler in a nutshell:

[jrittenhouse]

I was asked about this earlier today at a family gathering; my understanding is that Chrysler’s only option is to go to Fiat for life support and that the government will assist *somewhat* in that arrangement, and that GM is going to go into some kid of para-bankruptcy, where it will be split into NEW GM (Caddy,Buick, Chevy, GMC Trucks) and DEAD GM

Comments

[vee_ecks]

Well, and Dead GM's obligations include, potentially, any and all of the following: pensions, health care and union contracts. Also, a shitload more people are getting laid off.

And Chrysler has to be saved by a foreign company, which I guess would be awesome belt-tightening if the current admin weren't blowing the banks and other actual evildoers as hard as the last one did, so far.

[jrittenhouse]

Well, the shitload of people getting laid off was inevitable, since the present setup of plants, etc., was dependent on sales that are not coming back anytime soon, if ever. And I expect that a lot of dealerships will go crash, too, in the near future.

[vee_ecks]

Yeah, it was. But the automakers aren't as badass as they seem when the right people aren't in power. Under Clinton. California was able to hold them and foreign automakers over a barrel and get concessions Bush had to come along to ruin - crazy shit. Electric cars. When I was working and living there at the time, there were charging stations for those things all over the place.

There was a chance, here, to hold the companies over a barrel again and effect changes without bankruptcy and finding foreign suitors, and I have have to wonder why that wasn't taken. And why the relatively small amounts requested were the subject of such intense scrutiny and oversight when vastly larger sums going elsewhere were and still are not.