Quote:
Originally Posted by Sandy G
Well, they let it go thru. Walter P. is prolly spinnin' in his grave...Actually, it makes more sense than the ill-starred marriage w/Daimler Benz a few years back..BTW, one of the car mags I read sez both Mercedes & BMW are in trouble..They've about tapped the limits of the luxury-car market, & need to develop-badly- cheaper cars to survive long term. I don't know if I agree whole-heartedly; One only needs to look at Packard and/or LaSalle to see that cheapening the brand often leads to disaster.
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I've been reading that Fiat is fairly strong, owns all of those high dollar Eyetie brands that I've never seen a living example of, and for sure can't spell.
My concern was the bondholders. They had 1st mortgage on Chrysler's bones, and were pushed to the back of the line behind the Government and the UAW.
Russia pulled the same stunt about a year or so ago. Can't remember what industry they seized, but the investors started pulling their money out of the Russian market...would you want to invest in a country where the government can seize your assets at any time by decree?
I fear that actions of this nature will not bode well for an economic recovery.
Chas
PS: Have I offended any of our our Eyetie cousins...I would like to apologize. Ess joke, laff, laff. Just call me a peckerwood, and don't get your panties in a wad.