Re: GM's Chrysler buyout loan denied?

[Bill Watson <wwatson6@xxxxxxx>]

SAVIOUR?????   Kerkorian???

If Kerkorian had his way in the 1990's Chrysler would not have survived to 
merge with Daimler.  He would have bled the cash reserves to the point 
Chrysler would have gone under.  All in order to make the biggest buck 
possible.   When he owned that large block of Chrysler stock, he wanted 
Chrysler to spend the bulk of its cash reserves buying back stock from 
stockholders, himself included.   He would have made a tidy little sum from 
this deal which would also resulted in increased market values of the stock 
still in the hands of the public, including his own.    And depleting cash 
reserves would have left Chrysler extremely vulnerable when Chrysler sales 
dropped in 1998-99 as there would not have have been enough cash to cover 
the losses as well as finance new models.

Kerkorian is a vulture.  He does not care whether a company survives or not 
as long as he walks away from the carcass with more money than he had when 
he began.  He is a saviour to only himself and his business partners.

As to GM's buyout loan failure, I am overjoyed!   I hope Cerberus meets with 
Renault-Nissan.  That venture is the only way Chrysler has a chance to 
survive if Cerberus wants to bail out.  Nissan and Renault have the products 
Chrysler needs to flesh out its line to survive.  And what Chrysler has 
neither Nissan nor Renault have.  The closest thing to a perfect fit so far.

With a GM takeover, plant closures will boost unemployment across the 
continent and thousands will be on the streets with no jobs.   And hundreds 
of Mopar dealers will be without new cars to sell.   Which I suspect is why 
the buyout loan was rejected.  Someone was analysing the end result of a GM 
takeover.  And picture was not pretty.

Bill
Vancouver, BC


----- Original Message ----- 
From: "Steve Chervinsky" <63hemipolara@xxxxxxxxx>
To: <1962to1965mopars@xxxxxxxxxx>
Sent: Friday, October 31, 2008 11:48 AM
Subject: Re: GM's Chrysler buyout loan denied?


> WHERE OUR SAVIOR KIRK KEKORIAN IN ALL OF THIS?????
>
> On Fri, Oct 31, 2008 at 12:23 PM, Bill <Y1TopBanana73@xxxxxxxxx> wrote:
> > Talks with Nissan to restart???? -
>
>
> --
> Steve
> '63 Hemi Polara


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