Chrysler Deal On Hold!
Just before the deadline of 4 PM today Supreme Court Justice Ruth Bader Ginsburg put the sale of Chrysler to Italy’s Fiat on hold. The case brought against the deal are from a group of major secure bond holders of Chrysler. Right now bond holders are set to get about $.30 on the dollar. The order came done right before the deadline stating that the sale is “stayed pending further order.” What this means isn’t clear, nor is the time frame, but seems to be a temporary hold. Now Chrysler LLC is getting nervous, as well as the U.S government. Mainly because the Fiat Group SpA can drop out of the deal come June 15th. If the deal fails Chrysler might will have no choice but to liquidate. Me personally I don’t think they would liquidate their assets. I think they could get a better deal, and these bond holders feel the same way. I guess Obama will need to rethink the way he has been treating these bond holders. Remember Obama was the one who blamed the bond holders for the bankruptcy filling, maybe he should luck at himself for pushing the bond holders around. I think the bond holders will win this one, anyway I hope.
Summer Help!
With high school coming to an end, high school students will be looking for summer work. Most will be doing it to past the time by, others because they need the cash and a lot of them to help their parents pay the bills. Most of these kids will be looking to get jobs at fast food restaurants and pizza shops, which count for most of the summer help hiring. But there’s a problem, there’s not going to be many of those jobs available. And the reason why is because of high fuel costs and raw materials. With no one eating out much these days, these jobs won’t be there. Hopefully the economy will turn around and people will start eating out more. And once this happens, the jobs will return. Good luck to all job seekers!
GM Heading For Bankruptcy!
So far what we know is that The US Treasury Department has given notice to General Motors to get ready to file for bankruptcy by June 1. The only reason for them to make a statement like that is the funds are going to stop coming in. I think that The US Treasury Department has been reviewing GM’s books and feel that bankruptcy is the only way out for GM. But that’s not how GM feels, they insist they can restructure on their own. But of course GM would rather do this out of bankruptcy court because of their image of being a great company, which they are. They offered some of the highest paying job with the best healthcare benefits than any company, which hurt them in the end. I think for the most part the United Automobile Workers union killed the Auto Industry. They demanded so much for the workers the auto makers could no longer invest in producing better cars, greener cars. I once read that all the auto makers where spending more money on healthcare benefits than steal. Maybe they should file for bankruptcy to start with a clean slate and break all those dumb contracts with the really killers, the United Automobile Workers union.
Posted by: AskSuperZ in Auto
Parts Network!
Any Saab or Volvo car owners out there? Or do you have any friends or family members that own a Saab or Volvo automobile? If so this post is for you and your friends and family. I came across a site called Swedish Parts Network, where you can get Saab Parts and Volvo Parts and a fair price. If you’ve ever priced out parts for these types of automobile you will know right away if your getting a good deal. Anyway, spread the word to your friends or family that knows what it means to maintain these automobiles. They’ll thank you I’m sure.
