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Ear to the Ground

Chrysler Heads for the Chop Shop

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Posted on Apr 23, 2009
Flickr / Dr. Keats

The Treasury Department has cut a deal with the United Auto Workers to send Chrysler into bankruptcy while protecting retiree benefits, The New York Times reports. Fiat would be in a more favorable position to take a cut of the company once it’s in bankruptcy. Chrysler’s equity stakeholders are shaping up as the big losers in all of this.

New York Times:

The U.A.W., Chrysler and Treasury have reached agreements in principle that would protect workers’ benefits, people with knowledge of the negotiations said, and a similar agreement is expected to be reached as soon as this weekend with the Canadian Auto Workers union.

Once Chrysler emerges from bankruptcy protection, it would largely be owned by Fiat, the U.A.W., the Treasury and its lenders, these people said. A bankruptcy filing would likely wipe out existing equity stakeholders, notably Cerberus Capital Management, which took over the carmaker from Daimler in 2007.

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By DWIGHTBAKER, April 29 at 8:17 am #

THE OUT IN THE OPEN DECEIT IS RANCOROUS

Chrysler, which is subsisting on $4 billion in federal loans, is under a mandate from Mr. Obama to cut its labor costs and debt and complete an alliance with the Italian automaker Fiat if it is to get further government assistance. April 29, 2009

Those that espouse to the tenets of the secret group of BILDERBERG are those in Obama cabinet and the BILDERBERG have published intentions of running the world.  Sound like NAZI Germany not far from wrong.  And while those in that mindset are running rampant———we the people in the US today are treated as dunces standing in the corner with our nose in a hole.  On President OBAMA staff are those that are ripping our nation apart and giving all the cream to their buddies in the BILDERBERG group.

Case in point Chrysler is forced into bankruptcy——- FIAT is going to take over, who looses is the investors to the tune of $6.9 billion chump change when you are a Bilderberger.

NOW THIS GUY Giovanni_Agnelli started FIAT long ago and ponyed up to Nazi Germany and made a fortune while doing——along with many other seemed big GOOD CORPORATE NAMES that run ads on our TV VIEW STATIONS laying claim to be the worlds salvation in all ways.  CAUTION LOOK FOR THE CON.

Short list of BILDERBERGS
·  George W. Ball[6] (1954-1992), former U.S. diplomat
·  John Edwards[7][8]
·  Gerald Ford[9]
·  Bill Clinton[10] (1991), former US President, 1993 - 2001
·  Jon Corzine (1995 - 1997[4], 1999, 2003, 2004), former US Senator, current Governor of New Jersey
·  Richard N. Haass (1991, 2003, 2004[11]), president, Council on Foreign Relations
·  Lee H. Hamilton (1997[4]), former US Congressman
·  Christian Herter[12] (1961, 1963, 1964, 1966), former Secretary of State
·  Richard Holbrooke (2006), former U.S. Ambassador to the United Nations
·  Joseph E. Johnson[13] (1954), former President, Carnegie Endowment for International Peace.
·  Henry Kissinger[11] (1957, 1964, 1966, 1971, 1973, 1974, 1977-2008), Secretary of State, 1973 - 1977
·  Sam Nunn (1996, 1997[4]), former US Senator
·  Rick Perry[14] (2007), Current Governor of Texas
·  Kathleen Sebelius[15], Kansas governor and nominee for the the Health and Human Services secretary post
·  Timothy Geithner[16], Treasury Secretary
·  Lawrence Summers[17], Director of the National Economic Council
·  Paul Volcker[18], Chair of the President’s Economic Recovery Advisory Board


Giovanni Agnelli creator of the FIAT car line that led too much more.  Read
http://books.google.com/books?id=dK44ciNfx6MC&pg=RA1-PA35&lpg=RA1-PA35&dq=Giovanni+Agnelli+=+NAZI+GERMANY&source=bl&ots=49ge2sIGl4&sig=MXrqEMfv2_dUz4hiujVBx-BKoxI&hl=en&ei=IcbwSbjbM82JtgfP9_nBDw&sa=X&oi=book_result&ct=result&resnum=4

http://en.wikipedia.org/wiki/Giovanni_Agnelli

http://www.bilderberg.org/bilder.htm

http://www.tribalmessenger.org/columns/blogs/tivana/who-are-they.htm


So now once again President Obamas star powers the BILDERBERGS has come into action deceiving us once again in the first few days of his administration and how could he not know? 

Americans Beware
We The Peoples Advocates WTPA are providing the only HOPE in saving our great nation.  So JOIN IN and ENLIST to serve with your VOICES being heard and your VOTES being counted and moved along to our lobby group in Washington DC to power push the peoples needs, wants and wishes in our cities, states and Federal Governments.
Info contact Dwight Baker .(JavaScript must be enabled to view this email address)

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By DWIGHTBAKER, April 29 at 8:07 am #

The US administration on Monday gave Chrysler 30 days to sign a definitive agreement with Fiat, presented as the only hope for the automaker to return to profitability and a pre-requisite to any further government aid.

The government may invest up to six billion dollars more in Chrysler if the alliance with Fiat succeeds, the task force said

A deal Obama can’t refuse? Interesting that GM took a bath on its Fiat investment what, eight years ago? Now Fiat is buying Chrysler?  How many degrees of separation of incompetence is that?

While Fiat would pay nothing, it would provide access for Chrysler to its technology, notably that pertaining to smaller, more economical vehicles. Is that the ticket! Those small cars are dominating the market, right? How can Fiat lose? Pay nothing and get US government money to assure success.

Americans Beware

We The Peoples Advocates WTPA are providing the only HOPE in saving our great nation.  So JOIN IN and ENLIST to serve with your VOICES being heard and your VOTES being counted and moved along to our lobby group in Washington DC to power push the peoples needs, wants and wishes in our cities, states and Federal Governments.
Info contact Dwight Baker .(JavaScript must be enabled to view this email address)

Report this

By DWIGHTBAKER, April 29 at 7:58 am #

FIAT merger with Chrysler is another clear indication America is falling into a neo-fascist state. While the German automobile companies worked to redeem themselves from their Nazi past. FIAT has remained a far left socialist organization. It was FIAT that agreed to build the largest automobile plant in Russia at the height of the Cold War, a deal that allowed Russia to acquire western machine parts for its military. After the Cold War FIAT remains a company sustained by large government subsidies. If one thinks FIAT is going to save Chrysler from public bail out, think again. It is Chrysler’s new status as a public subsidized company that makes it very attractive to a socialist vampire like FIAT. Letting FIAT sink its fangs into Chrysler’s neck only proves that it will remain on bailout life support for years to come. The Agnelli Family of FIAT has been the oldest member of the Bilderberger Group founded by German born Dutch Prince Bernhard. There is something about US bailouts that brings out the Bilderbergers…It was the 1970 US Bailout of Lockheed that resulted in the Lockheed Affair scandal which caused Prince Bernhard to step down as leader of Bilderberg. Sergio Marchionne is presently a member of the Group and also serves on the Board of Swiss bank UBS, which has given large political contributions to fellow Bilderberg member Senator Chris Dodd a lead architect of the neo-fascist US policy to merge the largest private industries into a Government command and control economic system.


Americans BEWARE
We The Peoples Advocates WTPA are providing the only HOPE in saving our great nation.  So JOIN IN and ENLIST to serve with your VOICES being heard and your VOTES being counted and moved along to our lobby group in Washington DC to power push the peoples needs, wants and wishes in our cities, states and Federal Governments.
Info contact Dwight Baker .(JavaScript must be enabled to view this email address)

Report this

By mark, April 24 at 11:03 am #
(Unregistered commenter)

Inherit the Wind:

I’ll bite.

If you can please reference articles re shortage of railcars and the inability of growers to get grain to market.

Would like to know more.

Is shortage attributable to spike in demand for cars? That is, bumper crops of grain out-stripped capacity to ship it, where capacity was otherwise adequate.

Is shortage attributable to neglect by industry to replace rolling stock as old cars wore out?

Is shortage contrived?

Re: Re-tooling idled auto plants to produce railroad cars

How long would it take to re-tool the plants and re-train the workers?

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By Outraged, April 24 at 4:11 am #

This is somewhat off topic but you have to check out this map of job loss across the country since Jan 07’.  Consider that we know not all unemployment is included in official statistics.  ( Of course, I suppose that could be said of 07’ also )  Just hit the green arrow button.  Shock and awe….. oligarchy-style. 

http://www.slate.com/id/2216238

I know Sen. Kennedy was a major force behind the Serve America Act and at this time a much needed program.

From the LA Times:

“Propelled by Sen. Kennedy and Republican Sen. Orrin G. Hatch of Utah, the act will deliver $1.1 billion to AmeriCorps this year, in addition to $200 million that the president’s economic stimulus act has funneled to the organization.

The funding will allow the organization to expand openings for AmeriCorps volunteers from 75,000 to 250,000 positions over the next nine years and to establish new areas of volunteer corps in healthcare, education, clean energy and conservation.

The legislation ties service to education, increasing the stipend paid to volunteers to $5,350, the same as that of a Pell Grant. It also creates a $50-million “social innovation fund” to provide matching grants to nonprofit organizations. And it establishes Sept. 11 as a national day of service.

Alan Solomont, chairman of the agency that oversees AmeriCorps, noted that interest in the program is growing: 17,000 applications were submitted online in March, triple the number recorded in March 2008. “We know that people want to serve, as witnessed by ‘the Obama effect’ of people answering the president’s call to service,” Solomont said in a conference call.

http://www.latimes.com/news/nationworld/nation/la-na-service22-2009apr22,0,5559222.story

Although I’m not quite sure that this article is “technically” accurate, since all of these programs in the past offered educational grants AND living expense stipends concurrently.  It doesn’t sound as if the new legislation changed that portion, but moreso expanded it.  The new booklet is not yet available.

So if you find starvation an uncomfortable reality…. this might be an option .... you may at least feel good about what you’re doing as opposed to working at some dead-end, slimy boss type venue for scavengers wages.

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By Inherit The Wind, April 23 at 6:21 pm #

Here’s what I don’t understand:
1) Chrysler and GM are headed for bankruptcy.
2) They both have cars they can’t sell and big factories that are going idle, putting millions out of work.
3) Railroads are FAR more energy efficient.
4) But there is and has been a SEVERE shortage of R/R cars…Only passenger cars are new and…they are all coming from Europe!
5) Like something out of Ayn Rand’s “Atlas Shrugged” last year’s wheat crop couldn’t get to market because there wasn’t enough rolling stock to carry it!  No new freight cars have been built in 2 decades.

So…Why don’t we invest our taxpayers’ money in helping GM and Chrysler retool a portion of their production into making freight cars?
The nation needs them.
There’s a market for them.
They are FAR more green than GMC and Dodge Ram trucks.

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