Rumor on the street: Chrysler may File for Bankruptcy

[blueinindiana]

I know this rumors swirls around them all the time but i work for a major supplier for Chrysler in their Dodge Ram business and its not good in fact its all but dead right now and the trucks are their bread and butter.

http://news.yahoo.com/s/nm/20080626/bs_nm/chrysler_dc

[aint_no_life_nowhere]

1. Why not? Everything else seems to be going to hell

I almost think I'm dreaming when I think of what's happened to America in the last several years.

[DJ13]

2. Chrysler denies speculation it will file for bankruptcy protection

AP
Chrysler denies bankruptcy talk, welcomes Iacocca
Thursday June 26, 5:20 pm ET
By David N. Goodman, Associated Press Writer
Chrysler denies speculation it will file for bankruptcy protection, honors Iacocca

AUBURN HILLS, Mich. (AP) -- Faced with persistent speculation that it was planning to file for bankruptcy protection, Chrysler LLC on Thursday issued a statement denying the rumor and saying it has plenty of cash.

http://biz.yahoo.com/ap/080626/chrysler.html?.v=2

[whistle]

3. GM stocks dropped to lowest per share price in 33 years

June 26, 2008]


GM shares tumble to lowest share price in more than 33 years; Ford dips to 52-week low

(Associated Press WorldStream Via Acquire Media NewsEdge) DETROIT_Shares of General Motors Corp. plunged to their lowest price in more than 33 years, and Ford shares hit another 52-week low Thursday as analysts continued to speculate about just how bad things will get for U.S.-based automakers.

In afternoon trading, GM shares fell $1.28, or 10 percent, to $11.53, after tumbling as low as $11.21 earlier in the session.

The last time the Detroit-based automaker's shares dropped below the $12 mark was on Jan. 2, 1975 when they fell to $11.68, according to the University of Chicago's Center for Research in Security Prices. Thursday's low of $11.21 ties a low point on Dec. 30, 1974, the group said. The center adjusts prices for stock splits.
<MORE>

http://callcenterinfo.tmcnet.com/news/2008/06/26/3519266.htm

[smoogatz]

9. U.S. automakers are, once again, way behind the curve.

Same thing happened in the '70s. Instead of reinvesting profits in new technology and product developments, they've been pushing essentially the same designs/platforms for the last fifteen years. Short-sightedness, greed and failure to innovate will be what kills the auto industry in this country.

[Commie Pinko Dirtbag]

4. Isn't Chrysler an arm of Mercedes-Benz now? -nt

[blueinindiana]

7. No sold to private equity firm

[OnyxCollie]

13. Sold to Dan Quayle's Cerberus.

Dan Quayle's Cerberus buys Chrysler. Hurricane alert for Chrysler workers and retirees!
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x880175

[CatholicEdHead]

8. No, the Germans sold them a year or two ago

One of the new Capital Management companies bought it. They usually come in, sell off the assets, make a killing and sell the shell off.

[slackmaster]

5. Again?

All over again.

[smoogatz]

6. Wouldn't surprise me at all.

Nor would it surprise me to see GM restructure in a pretty serious way. The stock's just getting killed this week.

[Redstone]

10. Hey, it worked pretty well for them the last time they did it.

Redstone

[KharmaTrain]

11. Calling Dr. Z...STAT.

Whatever happened to that dude anyway? I kinda liked him. Not that I would ever buy a shitbox Chrysler, but he kinda grew on ya like a wart.

[carlyhippy]

12. They can't hardly give Dodge Rams away

When we bought my xterra a few weeks ago, we had also looked at a new Dodge Ram pickup, they were quite willing to take over $10,000 off the sticker price and they were quite pushy salesmen to get rid of it, I didn't buy it because we already have an older model and they are TERRIBLE on mpg. So if one wants a new pickup, now is the time to go get one, because they are hurting for business