This is precious. They turned down government aid because the execs couldn't put it all in their own pockets. They don't get it.

http://money.cnn.com/2009/04/20/news/companies/chrysler_bailout/index.htm

And they never will....

I'm glad they turned the bailout money down, but their "reasoning" scares me. I wish them the best of luck in keeping the doors open at Chrysler. Why is it that people at the top echelons of the corporate and governmental worlds seem to have this tendency to lose touch in this way? Yet, these people are trusted to competently manage their respective organizations.

I'd have to say the upside to the Bush presidency is the wholesale housecleaning going on in the top echelons of the corporate world.

The Kenneth Lays of the world, good riddance.

It's sad when part of getting extended government loans past April 30th depends on Chrysler merging with ... Fiat?!

Wow.

Ya the reasoning is :

They are turning it down because today hot rumor control has this as the " Paperwork " for a Chapter 11 is being prepared as we type !

And turning down the moolah now, means that their execs can get some of their promised bonuses in the reorganization, if not all of it.

They are headed for bankruptcy according to reports today.

Maybe they know the result when they end up having to declare bankruptcy even with the hand out. I'm just guessing, but there would be a real nasty backlash if they took the money, paid everyone as usual, then still went belly up.

From that, they wouldn't recover no matter what the promises were regarding restructuring or whatever they end up doing. Maybe, in the end, this is the best for everyone.

>>>>>>>>>>YEP >>>>>>>>>>>>>>>>

Next batter !!!!! General Motors.............

Its a sad day in the neighborhood.

Let them go BK. That's the only option left. They will wipe the slate clean, a bunch of stock and bond holders will get fucked, and they'll move forward with making crappy cars that only old people in the midwest buy.

Well this " old person' has a short wheel based Mitusbishi, which I got a couple of years ago. I like the thing, but now I know why old folks have those GM @ Ford wide wheel base vehicles, smoother ride and easier on your old bones and stiff joints.

I saw a study done on this once, and that is why older people have bigger passenger type vehicles. Its the wheel base and easier riding and cushier handling characteristics that dont hurt their arthritis as much. My folks have fit into that category for years now, they are 83 and still drive a Mercury Marquis and a Ford Crown Vic .

I always figured it was because old people have bad taste is things like cars and house decor.

Speaking of which, GM is going to dump the Pontiac division. Official announcement comes Monday. (Ah, memories of my first car, '69 Grand Prix!)

Yeah, they already killed Oldsmobile. My first car; 1964 Oldsmobile F-85 Station wagon. (Hey, it was free!)

I also heard talk of dropping the GMC badge as well.... And they might cut back on the amount of car names under the Chevy badge too.

GMC isn't going to die. It's their 2nd largest selling badge. Market research shows GMC buyers will NEVER step down to a Chevrolet truck. Dumping hundreds of thousands of potiental customers every year who'll pay tens of thousands of bucks more for the same truck without a bowtie isn't a smart bankruptcy move.

GM also knows they've a PR problem with two truck lines.

While I haven't actually heard this idea mentioned, but renaming the GMC a Cadillac is most certainly being considered as a solution to this PR delimma.

Chrysler Strikes Deal to Give Union Majority Share

http://www.foxnews.com/politics/first100days/2009/04/28/report-chrysler-strikes- deal-union-majority-share/

I can see the new Chrysler TV Ads now; Buy a Chrysler or we'll blow up your house!

I think Skep is right about GMC. Some out there have a freakish loyalty to the make, even though it has only been a badge-enngineered Chevy for decades. GM spends almost nothing on marketing GMC, those little badges are cheap, but the cost of rebranding the hundreds of GMC Truck dealers would be huge, along with any potential loss of customers (and any loss is too much loss). They may end up having to gut GMC to keep the bean-counters happy, but it will be no real cost savings.

Maybe making the GMC a Cadillac exclusive -- you can only get the GMC at a Caddy dealer. Caddy dealers are already geared up for trucks.

In this economy, along with the inevitable restructuring of GM, I don't see many Cadillac-only dealerships surviving. So it might be a Buick-Cadillac-GMC kind of thing. Weird, but these are strange times.

No more Chieftains with the indian ( native american ) hood ornament that lit up with the high beams on the deluxe models only ?

Aww Gee...

Well good riddance to that Aztech or what ever they called it weird lookin' crossover vehicle they made !

Wait a minute ,I thought this was a Chrysler String?