Re: GM's Chrysler buyout loan denied?

[Steve Chervinsky <63hemipolara@xxxxxxxxx>]

Funny how all the Mopar mags agreed that Kerkorian would have been the
best thing for Chrysler since Iaccoca. After reading Iaccoca's book
his biggest regret in life was letting them sell to Daimler, he knew
then this would be the demise of Chrysler. This was at the time that
Kerkorian wanted to buy and the execs panicked and sold to the first
bidder....Daimler. Right from Iaccoca's book.

On Mon, Nov 3, 2008 at 3:05 PM, Bill Watson <wwatson6@xxxxxxx> wrote:
>
>
> Chrysler employees have never owned or controlled the company so Kerkorian
> could not give it "back" to them.
>
> Always take what is said and promised during the acquisition of a firm with
> a grain of salt.  Especially with Kerkorian. Just ask anyone who worked for
> MGM back in the 1970's and 1980's.   That is one example of how Kerkorian
> gutted a company to get as great a return on his investment as he could.
>
> Kerkorian lives off his investments and his one goal is to make as big a
> return as he can on his investments.   A text book example of capitalism at
> its finest.
>
> Kekorian back then would not have been good for Chrysler just as GM is not
> today.  If Kerkorian gaines control, we would have seen chunks of Chrysler
> sold off.   When it comes to finance and corporations, the parts are greater
> than the whole.  And when you want to make money, selling the parts is the
> most profitable.
>
> Bill
> Vancouver, BC
>
>
> ----- Original Message ----- From: "Steve Chervinsky"
> <63hemipolara@xxxxxxxxx>
> To: <1962to1965mopars@xxxxxxxxxx>
> Sent: Saturday, November 01, 2008 3:17 PM
> Subject: Re: GM's Chrysler buyout loan denied?
>
>
>>
>> Kerkorian wanted to give the company back to the employees and bring
>> back Iacocca to run things. This would have been the best thing for
>> the company.
>>
>> On Sat, Nov 1, 2008 at 5:42 AM, Bill Watson <wwatson6@xxxxxxx> wrote:
>>>
>>>
>>> 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
>>>>
>>>>
>>>
>>>
>>> ----
>>> Please address private mail -- mail of interest to only one person --
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>>> as well as other personal messages only to the intended recipient, not to
>>> the Clubhouse public address. This practice will protect your privacy,
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>>>
>>> '62 to '65 Mopar Clubhouse Discussion Guidelines:
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>>>
>>>
>>>
>>
>>
>>
>> --
>> Steve
>> '63 Hemi Polara
>>
>>
>> ----
>> Please address private mail -- mail of interest to only one person --
>>  directly to that person.  I.e., send parts/car transactions and
>> negotiations as well as other personal messages only to the intended
>> recipient, not to the Clubhouse public address. This practice will protect
>> your privacy, reduce the total volume of mail and fine tune the content
>> signal to Mopar topic.  Thanks!
>>
>> '62 to '65 Mopar Clubhouse Discussion Guidelines:
>> http://www.1962to1965mopar.ornocar.org/mletiq.html.
>>
>
>
> ----
> Please address private mail -- mail of interest to only one person --
> directly to that person.  I.e., send parts/car transactions and negotiations
> as well as other personal messages only to the intended recipient, not to
> the Clubhouse public address. This practice will protect your privacy,
> reduce the total volume of mail and fine tune the content signal to Mopar
> topic.  Thanks!
>
> '62 to '65 Mopar Clubhouse Discussion Guidelines:
> http://www.1962to1965mopar.ornocar.org/mletiq.html.
>
>
>



-- 
Steve
'63 Hemi Polara


----
Please address private mail -- mail of interest to only one person -- directly to that person.  I.e., send parts/car transactions and negotiations as well as other personal messages only to the intended recipient, not to the Clubhouse public address. This practice will protect your privacy, reduce the total volume of mail and fine tune the content signal to Mopar topic.  Thanks!

'62 to '65 Mopar Clubhouse Discussion Guidelines:
http://www.1962to1965mopar.ornocar.org/mletiq.html.