Quote:
Originally Posted by dude1394
Well when you cut the goose open to get the golden eggs......
Let's see. Chrysler is estimated to be worth about 6billion. 6billion + 7 billion is 13billion. 55% of that is 7.15billion.
So they get 7.15billion/10billion lost or .70 on the dollar.
Nice to have friends in high places, and you don't even get called greedy.
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what? the uaw didn't get any of those $, they got 55% of the ownership in chrysler. now the uaw has to find a way to pay the $10B in retiree benefits that chrysler owes its members.
are you seriously believing that this new chrysler corp is going to be more successful than the old chrysler corp? nah.
chrysler is worth $6B? what makes you say that? it's got a bunch of old, inefficient factories that make crappy cars. it doesn't have any liquidity, and its liabilities are greater than its assets.
the only assets worth anything are its dealer network and the jeep brand. the network is in reality not worth much, in fact with the potential liabilities of what it will cost to shut half of those dealers down, its worth is way less than fiat believes it is.
like I said, the uaw has a huge task in front of it to turn chrysler around. the uaw membership is getting a bag of poop.
the bondholders otoh got cash.