Where have you gone Lee Iaccoca (circa 1979)? We need your gutsy brand of real leadership in the car business - no, make that all US business again!! (*)
Now we learn how our President is threatening to personally announce (sic) that your old company, Chrysler, (whose had a few owners like Mercedes, then Cerberus since you left Lee), is going to go bankrupt, in an obvious effort to force bondholders to accept his Administration’s final terms (that would be US Treasury money Lee) to be sold off to Fiat in part and also to be 55% owned by the Union (UAW) in what’s a clear election payoff for God’s sake. Sorry about that Lido.
DETAILS
The Detroit Free Press was reporting late today how "...Obama’s administration sweetened its offer to the debtholders Wednesday, adding $250 million with a 6 p.m. deadline. But the debtholders were discussing counteroffers, said U.S. Rep. Gary Peters, D-Mich., whose district includes Chrysler’s Auburn Hills headquarters...."
"You’ve got high stakes negotiations going on right here at the very last hours," he said.
"It’s frustrating that these hedge funds continue to push for every last nickel," Peters said. "Tens of thousands of families’ lives are at stake here."
It’s a sad day as Chrysler (and numerous other GM, still other) dealerships close or plan to close, and the resulting human tragedy of closed businesses, related unemployment and its effect on our communities and families plays out.
"Hey, does that Fiat have a HEMI?"