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So looks like the Gov't gave GM and Chrysler the big thumbs down to more money. Question now is....what is going to happen? Personally I think all options and outcomes are on the table but word has it Chrysler is either going to go under or the Gov't is going to let Fiat take them over.
Companies like these need to die out. It is a shame and sucks that many would lose their jobs, but paying money to keep crappy companies afloat when they just can't make money will hurt more than it helps.
This is what capitalism is about. Government bailouts should be illegal.
"Home of the free and whoever has a lobby or is friends with a Senator."
It seems like the govt is going to stand behind GM (Government Motors) no matter what.
Chrysler might not be so lucky, nor do they deserve to be. Chrysler is owned by a massively wealthy capital firm that could pour billions into it if they wanted. Even if there's a Fiat deal, Fiat has such a poor reputation in the US it would be very difficult for them to overcome.
Breaking news....Chrysler says it has reached a deal with Fiat. No details yet.
I dont think they will go under, but I think there will be consolidation of some sort