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I believe this qualifies as good news.
From Yahoo! News: DETROIT (AP) — Just three years out of bankruptcy, Chrysler posted a $1.7 billion profit in 2012 and said it expects to earn more than $2 billion this year.
Egotism is the anesthetic that dulls the pain of stupidity. - Frank Leahy.-- If you're going to be stupid, be smart about it. - Mike Milbury
I'm a big fan of Chrysler cars. last time i bought car at dealer at very cheap rate using chrysler coupon code http://www.getcarforfree.com/virus and you can also take advantage of new cars with the help of coupons and promos.
Fuckin Obama bullshit.
Maybe former stockholders who got dicked can be compensated. Lol, yea right.
Chrysler was privately held when it declared bankruptcy but don't let facts get in your way.
Chrysler paid back its loans with interest (as did AIG). But facts are hard sometimes.
Um, wow. GM and Chrysler both paid back their loans and I even think they paid them back with interest. Maybe you're confusing yourself with the banking/financial bailout which was 10x the amount and much less was paid back.
You should be happy then that Chrysler didn't go completely under and your family members would have been unemployed.
GM received almost $50 billion in govt bailouts. I believe the govt has recouped about $23 billion of that to date.
People love calling the loans to the auto industry "bailouts". It makes them feel better about their foreign car purchase. Newsflash. You know what we would never get back if the government hadn't loaned money to american automakers? Thousands and thousands of taxpaying jobs.
Sounds like thousand and thousands of union takers to me.
Do they give you pudding cups or applesauce at snack time?
A government watchdog says U.S. taxpayers stand to lose $27 billion from the 2008 financial bailout, up from an estimate of $22 billion made in the fall.
"This board would be great if it weren't for all the posters. ." -- AA Spartan 12/16/11
Pretty sure the government made money on the bank bailouts. GM has paid back half and will never fully pay it back.
This is the opposite of the truth. While the bank bailouts haven't been as "profit" yielding as reported due to additional tax breaks that were received, the consensus is that the government has been repaid. Chrysler may claim that they have paid back the government, but that is only with respect to what currently constitutes Chrysler. There was still more than $1 billion dollars that wasn't repaid by "old Chrysler". GM is even worse because of two things. (1) The government gave unions a greater stake in the company than the valuation of the pension deficit and (2) the government's share was sold at a price well below what was "paid". The government lost over $20 billion.
Whether the money has been paid back or not, the government made a profit on the bailout, IGNORING the fact that we would have lost tens of thousands of jobs.
This is a serious question... Does it really matter if the gov't gets the money back? I mean wtf are they going to do with it? Its not like I'm going to get it back am I? Its not like they took a certain amount from each citizen and gave it to chrysler and when they pay it back they're going to give that right back to me...
And if you include the increased tax revenue from the businesses themselves, selling cars, more workers/making more money, all that trickles down. The tax from sales/profits/income, etc. all will even out eventually.
I didn't make any comment regarding whether it was the right/wrong thing to do. Just clearing up facts regarding the actual amounts repaid vs. what was provided. Also, GM did get rid of about 15,000 jobs during their bailout. Not sure on Chrysler.
They lost thousands of jobs or are you ignoring this?
And if Chrysler earns a profit, and Fiat loses big $$$, is it still seen as such a wonderful story?
Again, I wasn't saying that intervention wasn't needed or that it's the end of the world that GM/Chrysler didn't repay everything. I was merely correcting the statement that I quoted. I agree with you that the taxpayers don't see any benefit either way (primarily because our government is so inefficient and would find some way to spend it anyway), but let's not perpetuate this myth that the auto companies repaid everything.
Nice profit. Direct result of right to work.
hopefully, the profits grow as they move operations out of Detroit to China and Mexico. This news is huge for the country of Italy!!
Would you purchase a product made by the UAW? Don't really blame them.
Dang - only on the RCMB can good news turn into a shit-storm.
Woo hoo! 10% bonus makes me happy!
The taxpayers put $50 billion into GM and have received $23 billion in return. You consider that a profit?
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