Chrysler goes Chapter 11

By
Real Estate Agent with AllMountainRealty.com

It was a sad day yesterday when I saw that Chrysler went Chapter 11. I remember the first time When MR. Iaccoca went to DC got a loan and turned the company around. That was a great moment and a great partnership between Government and Business. Yesterday was just a sad event.

In the end the saddest part may have been the Hedge funds that would not come to agreement over a settlement to keep Chrysler a float. The President looked genuinely pissed off. In the end I think the hedge fund managers greed and short sightedness will prove this victory to be Pyrrhic in nature.

Remember you can't fight City Hall and it isn't a good thing to poke a tiger. These Hedge fund guys did both. I await the fallout .

Posted by

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Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog

On line at www.allmountainrealty.com Call at 706 579 1098

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Topic:
ActiveRain Community
Location:
Georgia
Groups:
Almost Anything Goes
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North Georgia Mountains
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Politics And Real Estate
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Comments 3 New Comment

Rainmaker
543,261
Toula Rosebrock
Broker/Sales Associate, Realtor, Lacey Township,
Diane Turton, Realtors, Forked River, NJ

ToulaRosebrock,com

Hi Charlie:

Very sad indeed...

Pontiac closed up and now Chrysler going Chapter 11.

They need Lee Iacocca to step in again!

May 01, 2009 07:27 AM
Rainer
52,097
Victoria Murphy
Santa Fe, NM
Sotheby's International Realty

Charlie

I have to agree with Toula - we need Lee Iacocca or someone with his stamina and vision to put Chrysler back in place.  It is a sad day.

May 01, 2009 03:11 PM
Rainmaker
629,152
Fran Gaspari
"The Title Man" - Title Insurance - PA & NJ
Patriot Land Transfer, Inc.

Charlie,

I understand the hedge fund guys were exercising their fiduciary responsibility to their investors...have we suspended all laws...!!! And why does the UAW union own 55% of GM...why not the employees...??? The union is not the same as its members, the employees...!!! Thanks,   Fran

May 01, 2009 04:55 PM
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Charlie Ragonesi

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