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Dodge is down, Chev next?
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<blockquote data-quote="Bonsman" data-source="post: 661606" data-attributes="member: 8504"><p>I am awful busy, as one could expect in this economy. But I did take a peek at Chrysler last night. The first day orders were issued allowing for a number of things, closing of dealers, rejection of other contracts, pre and postpetition payments for critical vendors. </p><p></p><p>It appears to be a pre-packaged plan financed post-petition by the government. The end result is that Fiat will be the majority owner followed by the Unions and the goold old USA. Yes we will own about 8% of the reorganized company while Canada will also own 2% of the new compnay. The bondholders ownership share of the company will debend on the value of the company. I suspect they will get much less than they were previously offered.</p><p></p><p>This bankruptcy will move quickly. We lost two dealers in a 15 mile radius. The governments involvement in this bankruptcy is unprecedented.</p><p></p><p>GM will likely file on or about June 1. My advice, buy a ford.</p></blockquote><p></p>
[QUOTE="Bonsman, post: 661606, member: 8504"] I am awful busy, as one could expect in this economy. But I did take a peek at Chrysler last night. The first day orders were issued allowing for a number of things, closing of dealers, rejection of other contracts, pre and postpetition payments for critical vendors. It appears to be a pre-packaged plan financed post-petition by the government. The end result is that Fiat will be the majority owner followed by the Unions and the goold old USA. Yes we will own about 8% of the reorganized company while Canada will also own 2% of the new compnay. The bondholders ownership share of the company will debend on the value of the company. I suspect they will get much less than they were previously offered. This bankruptcy will move quickly. We lost two dealers in a 15 mile radius. The governments involvement in this bankruptcy is unprecedented. GM will likely file on or about June 1. My advice, buy a ford. [/QUOTE]
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Dodge is down, Chev next?
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