http://www.americanthinker.com/blog/2009/05/letter_from_a_dodge_dealer.html

[cltrat]

These people are expendable to the Obama Administration as they are most likely non AFL-CIO represented, likely suburban or rural and not part of Obama's core group of voters.

Each day the average Jane & Joe get screwed by this guy and no one seems to notice or care.

how true PB, the constitution is nothing but paper in this guys way

 

[Gilding the Lily]

But OTOH.......this is not a simple BK.........BK ala Geithener/Big O...totally outside of BK law principle.

While I agree this is truly a different BK because of the "third-party" involvement, the rejecting of unprofitable contracts is not out of the ordinary. This happens in every chapter 11. And it is happening now. This guy can make that argument in court by making an objection. But he likely will not because it is a losing argument, and this is probably why he is writing such a letter, because it is his last ditch effort.

 

[dapoes]

But OTOH.......this is not a simple BK.........BK ala Geithener/Big O...totally outside of BK law principle.

Exactly! Govt is picking the winners and losers. Very soon down the road, these car companies are going to realize the mistake they made getting in bed with the govt, much like how the banks are feeling right now.

Guess what other unintended consequences will happen?:

May 20 (Bloomberg) -- Hedge fund manager George Schultze says he may avoid lending to any more unionized companies after being burned by President Barack Obama in Chrysler LLC’s bankruptcy.

Obama put Chrysler under court protection on April 30 after lenders balked at a proposal giving them about 29 cents on the dollar for their $6.9 billion in debt. The investors said the president’s plan favored a union retiree medical fund whose claims ranked behind them for repayment. It was offered a 55 percent equity stake in the automaker.

Pacific Investment Management Co., Barclays Capital and Fridson Investment Advisors have joined Schultze Asset Management LLC in saying lenders may be unwilling to back unionized companies with underfunded pension and medical obligations, such as airlines and auto-industry suppliers, because Chrysler’s creditors failed to block Obama’s move. The reluctance may put additional pressure on borrowers seeking capital in the worst financial crisis since the Great Depression.

Guess who will have to step in and rescue??? :down: :down: :down:

 

[cltrat]

Ford Motor Company must thank God every day they did not jump in bed with the Messiah

I have always prefered Ford products and given the choice of the Big Three today it's a no brainer for me I'm not buying a Obamamobile

 

[Gilding the Lily]

Ford Motor Company must thank God every day they did not jump in bed with the Messiah

I have always prefered Ford products and given the choice of the Big Three today it's a no brainer for me I'm not buying a Obamamobile

Yes. Thank goodness one of the 3 could "make it" this far without taking money, and let's hope they don't have to take money in the future.

 

[777 fixer]

It gets even better:



Why would they go public with something like? Didnt they realize the negative impact and damage that would do?

At best they should have confided with the franchisee owners, giving them advanced notice and preparations.

You don't know much about the cars do you? Saturn has been dying a slow death for a number of years now. When they first started out there was a wait list for them. Not so any longer. When they stopped building cars in Spring Hill and became just another GM brand they lost a lot of loyal customers like me. So he's really not doing any damage to his business, the damage was done long ago.

 

[777 fixer]

hahaha. I really think you should consider the ramifications of your argument. I am arguing against socialist agenda. If this dealership was to be paid for this so-called "taking" of the dealership, then who do you think would pay for it??? Since you are currently paying for Chrysler's financing, and Chrysler would be paying for this so-called taking, then ipso facto, you and every other taxpayer would be paying that dealership. And if they keep funding unprofitable enterprises with government money, then how is that furthering capitalism? Who is the socialist now?!?! Let's stop propping up poorly-run companies (particularly those that can't even be deemed so-called too large too fail) with government money.

Here's another thing that some people on this thread seem to be forgetting. Chrysler sells fewer cars in the US than Toyota. Yet they have over twice the number of dealerships. Add to that a recession and a bankruptcy. What would be the logical thing for a company to do in that sort of situation.

 

[Freedom4all]

Another shocker:

Did anti-Obama campaign contributions dictate which Chrysler dealers were shuttered?

A cursory review by that person showed that many of the Chrysler dealers on the closing list were heavy Republican donors. Every single one had donated almost exclusively to GOP candidates.

My Fellow Americans at Hackenslash Chrysler of Scranton, NJ:
I won. And I've been keeping score.
Have your personal effects packed up by 5:00pm.
And don't use any of the boxes from the Parts Department. We get money back for each pound recycled.

Regards,
Messiah Obama CEO
Chrysler Obama Motors Inc

 

[777 fixer]

Another shocker:

Did anti-Obama campaign contributions dictate which Chrysler dealers were shuttered?

A cursory review by that person showed that many of the Chrysler dealers on the closing list were heavy Republican donors. Every single one had donated almost exclusively to GOP candidates.

My Fellow Americans at Hackenslash Chrysler of Scranton, NJ:
I won. And I've been keeping score.
Have your personal effects packed up by 5:00pm.
And don't use any of the boxes from the Parts Department. We get money back for each pound recycled.

Regards,
Messiah Obama CEO
Chrysler Obama Motors Inc

Care to back up this claim with any facts? Or is it just another baseless claim you happened to hear and repeated it?

 

[Tug McGroin]

Care to back up this claim with any facts? Or is it just another baseless claim you happened to hear and repeated it?

Trip7,

Chrysler Dealership Campaign Donation Information

Take it for what it's worth!

 

[777 fixer]

Trip7,

Chrysler Dealership Campaign Donation Information

Take it for what it's worth!

The problem with blogs is that they have a tendency to cheery pick facts. The one you posted a link to seems to be no different. When you look up contributions from domestic auto dealers you will see that the majority of their money goes to Republicans.

http://www.opensecrets.org/industries/indu...8&ind=T2300

So logic says that there's a good chance that a dealership being closed contributed to Republicans at one time or another by default. Just as logic would say there's a good chance that dealerships that are not being closed contributed money Republicans.

Neither freedom4all nor that bog has provided any evidence that these closings are politically motivated. It sounds like nothing more than just another goof ball conspiracy theory.

 

[dapoes]

The problem with blogs is that they have a tendency to cheery pick facts. The one you posted a link to seems to be no different. When you look up contributions from domestic auto dealers you will see that the majority of their money goes to Republicans.

http://www.opensecrets.org/industries/indu...8&ind=T2300

So logic says that there's a good chance that a dealership being closed contributed to Republicans at one time or another by default. Just as logic would say there's a good chance that dealerships that are not being closed contributed money Republicans.

Neither freedom4all nor that bog has provided any evidence that these closings are politically motivated. It sounds like nothing more than just another goof ball conspiracy theory.

Draw your own conclusion (absent of any facts of course). Sometimes people are blind to the obvious.

Chrysler claimed that its formula for determining whether a dealership should close or not included "sales volume, customer service scores, local market share and average household income in the immediate area."

but then...

As an employee of one of the affected dealerships... First, this isn't just Chrysler's decision. They were forced into bankruptcy by President Obama. When Chrysler emerges from bankruptcy the Federal Government will be a junior partner in the new Chrysler. This is SOCIALISM! Wake up people! This isn't about business it's about politics and control. My dealership is in the top 125 out of the 3500 plus dealerships nationwide...yet we are on the list. We are not small nor are we rural. We are in a large major metropolitan area. Our new vehicle inventory alone is well over $4.0 million. Is that small? Secondly, Chrysler is already "shopping" for dealers to take over the open "points" (another name for franchise) left by the closed dealerships. Again, you think this is just business. Lastly, and more importantly, every state has franchise law in affect that protect companies from this very thing - being forced out of business under the cloak of bankruptcy with out the benefit of due process. This is illegal!

Quote from an attorney who Deposed Chrysler's president last week: "It became clear to us that Chrysler does not see the wisdom of terminating 25 percent of its dealers... It really wasn't Chrysler's decision. They are under enormous pressure from the President's automotive task force."

 

[eolesen]

If they're giving away the franchise rights without compensation, it's an outright obamanation.

 

[Garfield1966]

If they are in Ch 11 aren't the contracts null and void? They signed on with a bad company and now they take the hit. Or did I miss something?

 

[dapoes]

Or did I miss something?

Yes